Junior Arbitrage Trader
Macquarie Group (Macquarie) is a global provider of banking, financial advisory, investment and fund management services. Around the world, we act on behalf of a range of institutional, corporate and retail clients. Founded in 1969, Macquarie employs more than 13,600 people in 28 countries. We focus on areas of business where our particular skills and expertise deliver real benefits to clients and investors.
At Macquarie we offer you the experience and freedom to grow your career whilst making your mark within a highly successful organisation. Key to our success is the entrepreneurialism we encourage in all our people. We give you the opportunity to progress your career as quickly as you can demonstrate your ability.
Macquarie's business is structured into six operating groups and four support groups.
Macquarie Securities Group (MSG) is a global institutional securities house covering sales, research, ECM, execution and derivatives and delta one activities. MSG uses its research and risk management skills to develop equity-based solutions and services for clients internationally.
MSG issues retail derivatives in key locations, provides delta 1 products and equity finance solutions to its institutional client base, and conducts risk and arbitrage trading activities.
The MSG Group has an opportunity for Junior Trader to join the Arbitrage Trading team in London.
Key Accountabilities / Principal Responsibilities
Maximise profits for the Arbitrage business by
- Forecasting cash and inventory positions
- Optimising cash and inventory management, addressing inefficiencies, proposing solutions and execution options
- Assisting with trade execution
- Monitoring and managing risks within the business, including liquidity and credit risks around inventory settlement and trade life cycle
- Protecting the business from Operational Risk (including compliance with limits, accurate distribution of funding projections and management of settlement and trade life cycle events) by actively identifying exposures and seeking to mitigate them
- Providing top quality service to internal clients by optimising their funding outcomes and maximising savings on SBL and collateral costs
- Engaging and building relationships with internal stakeholders and external clients
- Identifying and understanding shifts in liquidity regulation and proposing how to position for consequent changes in the market landscape
- Collaborating across Global Equity Finance in Europe to identify opportunities and synergies
- Coordinating operational processes aiming to streamline eliminate inefficiencies and to identify system improvements
Key Skills and Knowledge Areas Required
- A well-developed understanding of financing markets, particularly equity financing markets and related instruments and regulation
- High level of proficiency in excel and numerical skills
- A disciplined approach to risk management and the ability to intuitively understand, evaluate and take on sensible risks
- Detailed understanding of market mechanics including operations, booking flows, stock and cash settlement (eg SWIFTs), OTC arrangements (ISDAs, CSAs, GMSLAs, GMRAs, collateral), clearing processes, funding requirements and market participants (brokers, custodians, clearers, lenders, asset owners, asset managers, advisors) Collateral optimisation
- Commercial acumen and willingness to act decisively on available information and take responsibility
- Appreciation for legal, accounting, regulatory capital and tax concepts such as entities, treaties, limited liability, defeasance, P/L, balance sheet, cash flows etc.
- Ability to understand and navigate the structural and regulatory environment in different markets
- Attention to detail, achievement drive, initiative, tenacity, quality focus
- Demonstrate the ability to work as part of a team
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