Market Control Administrator recruitment

Market Control Administrator

A Pan-European regulated market consisting of small, highly skilled and dedicated teams who together have achieved record growth in turnover in the last 18 months is looking to strengthen its Market Control team. The company is dynamic and agile with a continually evolving market model and is known throughout the industry for its innovation and ability to react swiftly to client demand.

The Market Control Team is a small team within Market Operations and is responsible for the day-to-day management of the market and post trade processes. The team manages the continuation and development of good relationships with Europe’s major clearing houses and is responsible for the continuous review and enhancement of bi-party agreements, operational and contingency procedures, and relevant testing with all CCPs.  Market Control also works closely with the On-boarding team; In addition to new trading participants and MDVs, the Onboarding team is responsible for establishing links to new clearing houses, which involves the understanding of the clearing and settlement models of new CCPs, the creation, testing and evolution of operational procedures and subsequent contingency processes. As the client operates an interoperable CCP model, Market Control must liaise with all relevant CCPs and fully understand the extent to which they interoperate in order offer the appropriate clearing choice at instrument, trading participant and geographical board level.

Market Control is also responsible for the opening and closing of the exchange each day, defines the tradable universe and monitors all trading activity and trading participant connections, ensuring both pre and post-trade transparency requirements are met, in addition to providing assistance to clients with queries. A primary function of the team is also to manage any instances of operational crisis, seeing issues through to conclusion and maintaining timely client communication throughout.

The role is demanding and challenging, focussed on proactivity and error minimisation, and requires the ability to work calmly and efficiently under pressure. Areas of involvement and responsibility are wide-in-scope, and as such the successful candidate will be involved in the evolution of the market and will have in turn have the opportunity to broaden knowledge and experience within a fast paced Stock Exchange environment.

Role Responsibilities

• Clearing and Settlement

o    Management of relationships with Clearing Houses, intraday and end of day reconciliations

o    Regular review and enhancement of operational procedures and processes

o    Maintaining continuous connectivity and instigating contingency processes when required

o    Assistance provided to new clients with set-up and testing of clearing arrangements

o    Maintenance of clearing set-up matrix to ensure post-trade set-up of ICM/NCM/GCM arrangements are recorded and up-to-date

• Pre- Open – Monitoring of client connections, the status of tradable instruments and clearing eligibility, inbound and outbound market data

• Market Open – Monitoring of market maker activity, open auction volume and price checks, status of bilaterally agreed trading relationships between participants

• Market Close – Monitoring of closing auctions, application of corporate actions, EOD clearing reconciliations and application of any changes required for the following trading day

• Trading Activity – Monitoring of all trading activity, instrument status (regulatory halts and suspensions, price action, inbound and outbound market data)

• Tradable Universe Definition – Maintenance of the tradable universe, index constituents, corporate actions, clearing eligibility and management of the launch of new market segments

• Functional Testing of Market Model Changes – Testing of new functionality and enhancements within the UAT environment and reporting any issues to the Development Teams

• Client Enquiries – Answering all client enquiries regarding trading activity and clearing/settlement issues in a timely manner

• Reporting – Provision of ad-hoc reports regarding trading activity to Management Team on request

Skills Experience

Required

• Understanding of the trade process; Order Entry Order Book Execution Clearing Settlement

• Understanding of Clearing Settlement process with LCH Clearnet SA, LCH Clearnet Ltd, X-Clear, EuroCCP and CCG

• Highly computer literate with excellent Excel skills

• Understanding of stock exchange order book mechanics

• Knowledge and understanding of European equity markets

• Broad understanding of order types available within equity markets

Desirable

• Knowledge of the clearing and settlement models offered by major European CCPs

• Understanding of clearing interoperability

• Previous experience within Market Operations

• Experience within Trade Support/Back Office

• Knowledge and understanding of post-MiFID fragmentation within Europe’s equity markets

Personal Attributes

• Excellent verbal and written communication skills

• Keen eye for detail

• Ability to work under own initiative and stay calm under pressure

• Committed to continuous process improvement and delivering quality

• Desire to work in a fast paced and adapt to continuing evolution of an innovative market

• Ability to liaise and communicate effectively with other business units; Sales, IT, Development