Trading Operations Associate

Metals trading. Most of the world's global non-ferrous futures business is conducted on the firm's three trading platforms totalling $15.6 trillion, 145 million lots and 3.3 billion tonnes in 2021.

Participants can transfer or take on price risk against aluminium, copper, nickel, tin, zinc, lead, molybdenum, cobalt, steel scrap, rebar and hot-rolled coil, aluminium premiums and alloys, as well as suite of gold and silver contracts.

In December 2021, approximately 1.4 million tonnes of material were held on The Firm's warrant in more than 570 storage facilities in 14 countries across 32 global locations.

Description

Overall Purpose, Trading Operations Associate:

• To provide an effective first-line supervision for all trading activity
• To participate in the determination of the firm's Futures reference prices
• To ensure the Error Trade Policy and Dynamic Price Bands on the system are managed effectively
• To participate on the Benchmark Pricing Function in the determination of the Platinum and Palladium auction prices
• To determine the Closing Prices for Traded Options
• To determine the Settlement Prices for precious metals
• To learn all processes across venues and functions managed by Trading Operations

Responsibilities, Trading Operations Associate:

• Ensure the firm's reference prices are determined in a manner that promotes the firm and meets the commercial and regulatory requirements of the job in full
• Participate as part of the Quotations Committee for the determination of Official and Closing Prices
• Enforce the (system) Ring Dealing Regulations and Code of Conduct; as a participant on the Ring Disciplinary Committee this involves imposing disciplinary procedures for rule breaches
• Establish Settlement Prices for Ferrous and Precious Prices
• Establish Settlement Prices for Cash Settled Futures
• Ensure the procedures around the Error Trade Policy and Dynamic Price Bands on system are managed effectively and consistently, with all relevant information updated and documented
• Carry out the procedure for the determination of the Closing Prices for Traded Options using system prism by making reference to all relevant trading activity and participant submissions
• Ensure the Platinum and Palladium prices are determined effectively through daily auctions on bullion
• Ensure Benchmark Regulation Compliance as a Benchmark Administrator.
• Provide regular updates on all relevant pricing-related matters, and to ensure the reference price are transmitted accurately on a daily basis
• Provide Market Surveillance with all relevant observations and referrals from trading activity across venues
• Effectively deal with all stakeholder queries relating to pricing procedures and Trading Operations in general
• Recommend and promote enhancements to the management on issues that will benefit the firm's price discovery procedures, and to participate in all relevant projects and initiatives
• Provide tutorials and education to staff on issues relating to price discovery for Futures and Options

Profile

Knowledge and Experience Required, Trading Operations Associate :

• Experience either working for a Member/Client, Exchange or the LME in the trading environment
• A knowledge or experience in electronic trading
• A good knowledge of Benchmark Administrator responsibilities
• A thorough knowledge of market terminology, Rules and Regulations
• A thorough understanding of the forward price curve for each metal
• A thorough understanding of the dealing regulations
• Where appropriate, a knowledge of Traded Options

Job Offer

Trading Operations Associate, Financial Services
City of London
£50-62k