The execution trader at a hedge fund is primarily responsible for the timely and efficient execution of trades across various asset classes, as directed by portfolio managers or systematic strategies. Their main goal is to achieve the best possible price, speed, and liquidity for a given order, while minimizing market impact.
Core Responsibilities
- Trade Execution: Executing trades across a variety of asset classes (equities, fixed income, foreign exchange, commodities, and derivatives) in global markets, using both high-touch (voice brokering) and low-touch (algorithmic) methods.
- Market Monitoring: Actively monitoring market conditions, news events, and economic data to provide real-time, timely market color and insights to portfolio managers and analysts.
- Liquidity Management: Sourcing liquidity by maintaining strong relationships with sell-side brokers, banks, and other counterparties.
- Execution Strategy & Optimization: Optimizing execution quality by managing order flow, monitoring the behavior of execution algorithms, and working with quantitative analysts and engineers to improve trading tools and systems.
- Post-Trade Analysis: Conducting post-trade analysis, including transaction cost analysis (TCA) and performance reviews, to assess the effectiveness of executions and identify areas for improvement.
- Compliance and Operations: Ensuring all trades are executed in line with regulatory requirements, internal policies, and compliance standards, as well as liaising with middle-office and operations teams to resolve trade discrepancies.
- Risk Management: Monitoring trading systems and positions to manage risk exposures and respond to abnormal trading situations as instructed.
Key Skills
- Strong Analytical and Quantitative Skills: The ability to analyze data, interpret market trends, and make quick, data-driven decisions under pressure is crucial.
- Technical Proficiency: Experience with electronic trading platforms, order management systems (OMS), execution management systems (EMS), and often programming or scripting skills (e.g., Python, VBA) are required.
- Communication: Effective communication skills are essential for collaborating with portfolio managers, quants, operations, and external brokers.
- Attention to Detail: High level of attention to detail is vital for accurate trade booking, record-keeping, and avoiding errors in a fast-paced environment.
- Resilience: The capacity to work under pressure, manage stress, and maintain self-control in volatile markets is important for success.
Requirements
- Bachelor's degree holder from a globally reputable university, with an outstanding academic background
- A minimum of 1-3 years of relevant experience
- Open to candidates from leading sell-side firms
- Excellent command of English and Mandarin
- Willingness to be based in Shanghai
