OTC Trader, Trading Solutions

Technical Skills:

• Ability to expertly handle complex trades with a mindset of continuous optimization. Every basis point of execution is significant and should be measured and understood, with the goal of increasing the trading desk’s revenue while abiding by risk management guardrails.
• Deep crypto market microstructure mathematical expertise, including cross-market basis opportunities, awareness/avoidance of predatory algorithms, derivatives hedging, beta hedging, and having a good understanding of away positioning and market drivers etc.
• Demonstrates expert knowledge of both electronic and voice trading, influencing technology improvements inspired by the more mature Traditional Finance market structure.
• Strong client-facing abilities, instilling confidence through excellent white glove service; influencing clients to increase Anchorage’s share of wallet.
• Proficient Python coding ability, comfortable progressing existing code and creating new code to advance trading projects.

Complexity and Impact of Work:

• Stand up the initial principal trading exposure management infrastructure and processes. This includes optimizing the trading desk’s quantitative pricing models, with expected return calculated using factors such as: volatility assumptions, market impact, hedging method, client tiering, and error handling. Longer-term, guide quants and engineers in the migration of this logic into a lower-latency streaming product from which clients can electronically execute.
• Lead efforts to increasingly automate hedge execution, so that traders can focus on only the most complicated trades, project work, or client engagement.
• Assist the risk management team in designing controls to govern the principal trading desk’s aggregate market exposure, including data buildout and guardrail establishment. This effort will be supported by the risk management team, quantitative analysts, and engineers. A successful program will net correlated risks to keep our pricing competitive, while alerting action to avoid breaching risk thresholds.
• Closely follow market narratives to contribute perspectives to internal research efforts, which may be used to increase engagement with trading clients. Coin coverage will span major coins (relevant to large audiences) to particular altcoins held by high-value clients.
• Help to inform new products and capabilities within the trading business to meet our clients’ overall needs, increasing the trading desk’s share of wallet. This may include derivatives.
• While on coverage, be available to immediately respond to changing exposures, client questions and requests. This includes rotations on weekends and off-hour paging.

Organizational Knowledge:

• Is keenly aware of how brokerage fits within the firm’s broader strategy, both as a tool and a standalone business, to provide input to the technology roadmap and implementation.
• Understands upstream and downstream implications of process changes, proactively voicing ideas and concerns as the business scales.
• Ensures that knowledge is shared amongst stakeholder teams and does not position themselves or others as a single point of failure.

Communication and Influence:

• Stay up to date with the underlying themes driving market prices and liquidity to deepen client interactions and execution strategies.
• Champion the perspective of the Trading Solutions team during cross-department conversations.
• Act as a mentor for junior members of the team.

You may be a fit for this role if you have:

• 3+ years experience as an OTC trader in the cryptocurrency space.
• Demonstrated ability to convert institutional prospects into trading clients.

Although not a requirement, bonus points if:

• You’re proud of your crypto Twitter feed and ability to uncover narratives driving crypto markets and specific coins.
• You enjoy using memes as a method of communication.
• You were emotionally moved by the soundtrack to Hamilton, which chronicles the founding of a new financial system. :)