Fixed Income ETF Trader – market making

Overview

In this role you join a tech-driven ETF market-making firm in London to trade fixed-income ETFs. You’ll work at the intersection of trading, technology and risk, focusing on pricing, automation and disciplined risk management. You will quote, hedge and optimize liquidity across European venues, collaborating with developers and quants to improve pricing and trading tools. The role is not cash-bond trading but a specialized environment tuned for market making and revenue through ETF pricing dynamics.

Responsibilities

• Make markets in fixed-income ETFs across European venues
• Manage live quoting across price, size, spread and skew
• Run intraday risk, inventory management and hedging
• Price ETF risk using futures, credit indices, rates products and other liquid hedges
• Collaborate with developers and quants to enhance pricing models, quoting logic and tools
• Identify opportunities in less efficient segments of the fixed-income ETF market
• Analyze liquidity, volatility, hedge cost, basis risk and adverse selection
• Support growth of a specialist ETF market-making business

Key requirements

• 2+ years of direct ETF market-making experience
• Exposure to fixed-income ETFs, ideally credit ETFs
• Experience quoting on-screen markets
• Strong understanding of ETF pricing, fair value, spread, skew and hedging
• Background from a specialist market maker, prop firm, liquidity provider or ETF trading desk
• Knowledge of fixed-income ETF risk: duration, credit spread, liquidity and basis risk
• Comfortable in a systematic or semi-automated trading environment
• Strong commercial judgement and risk discipline

• commercial judgement
• risk discipline
• ability to collaborate with developers and quants
• on-screen quoting
• systematic trading environment
• pricing models

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