|Job Type:||Full Time|
The EMEA Credit Markets franchise is a leading market maker in European credit derivatives and corporate bonds. J.P. Morgan provides financial assets and liquidity for banks, insurance companies, finance companies, mutual funds and hedge funds. Traders, salespeople and research analysts work collectively to generate ideas and make secondary markets in high grade/high yield bonds/CDS, distressed bonds, trade claims, indices, exotics, and illiquid credits.
We are looking for an experienced quantitative individual with extensive experience working on a trading desk. Ideally, the right candidate would have solid experience in Fixed Income and Equities systematic market-making, algo with trading systems, execution and hedging strategies, flow internalization microstructure research, short term price/volume prediction models and client flow analysis.
You will work as part of our trading team on the credit floor in London with a focus on credit markets, primarily corporate bonds and related instruments. You will cover a wide range of responsibilities and will be working closely with the trading desk to drive revenue and expand the business. These include designing trading and execution strategies; researching micro-patterns and trends; building, maintaining and upgrading applications & tools; supporting day-to-day operation. Some on call time will be expected. Your responsibilities will include:
- Working with trading professionals in various countries to help tailor efficient pricing strategies for the corporate bond universe;
- Helping to derive semi-manual/automatic hedging solutions for risk management to help extract the best values out of our flows;
- Performing statistical analysis of algorithmic orders (RFQ) to evaluate execution, understand price and market impact and to drive iterative improvements in our workflow and strategies;
- Helping to develop limit-order-book-like models specifically for the credit markets;
- Working in close collaboration with Sales to explore ways to expand our e-commerce footprint in the region;
- Looking for unique automated trading opportunities in EMEA to drive our trading revenue;
- Understanding and compliance with the firm's approach and policies for managing risks in relevant business and applicable legal and regulatory rules; following policies;
- Balancing potentially competing needs across clients, internal partners and the firm;
- Understanding the cross-asset element of credit and developing models that incorporate all the elements that drive the pricing of the credit market;
- Helping to develop the appropriate back-testing and simulation framework for optimizing the appropriate workflow.
- You thrive in a fast-paced and challenging environment of competitive pressures and easily remain focused on client needs;
- You are responsible, independent and able to work in smooth coordination with the larger team to drive the desk's revenue;
- You are interested in market microstructures and quantitative trading within global markets;
- You are attentive to detail and easily adaptable;
- You demonstrate proficiency in code design and programming skills, with primary focus on Python and Java; demonstrable proficiency in Tensorflow and C++ is required;
- You are proficient in Deep Learning;
- You are interested in applying agile development practices in a front-office trading environment;
- You demonstrate good judgment – you are good at good decision-making;
- You have strong interpersonal skills and organisational savvy – you listen and communicate in a direct, succinct manner;
- Your excellent communication skills, both verbal and written, can engage and influence partners and stakeholders; You are good at communicating concepts and ideas, also via documentation, and you are keen defend their validity and tailor messages to different audiences;
- You think strategically and creatively when faced with problems and opportunities. You always look for new ways of doing things.
- You understand the different types of risk and you can discuss in detail ways of managing these risks;
- Advanced degree (PhD, MSc or equivalent) in Engineering, Mathematics, Physics, Computer Science, etc. Relevant academic research publications will be a plus;
- Experience with data schemas and data structures would be useful in this role;
- Markets experience and general trading concepts and terminology is useful to be familiar with;
- Understanding of the electronic marketplace landscape, in particular Bloomberg, Tradeweb, or similar ECN’s in other Fixed Income asset classes;
- Direct experience of agile software methodologies;
- Orientation towards careful system and solution design and implementation;
- Robust testing and verification practices.
This role encompasses the performance of UK regulated activity. The successful candidate will therefore be subject to meeting UK regulatory requirements in the assessment of fitness, propriety, knowledge and competence (as assessed by the Firm) and (where appropriate) approval by the UK Financial Conduct Authority and/or the Prudential Regulation Authority to carry out such activities.