Trader
phoenix groupNew York, NY
Role Overview:
The Systematic ETF Trader will own and enhance a fully operational, high-performance trading system focused on ETF market making, arbitrage, and cross-asset hedging, with scope to develop and scale trading strategies across equity ETFs, futures, and fixed income instruments. This role is impactful in driving daily P&L, refining trading algorithms, and collaborating on infrastructure improvements, with a clear pathway toward leadership within a growing platform.
Key Responsibilities:
- Actively trade equity ETFs, futures, and related derivatives within a systematic market making framework, managing execution and risk on a daily basis
- Design, own, and optimize market making, arbitrage, and hedging strategies, including spread setting, order placement, inventory management, and intraday risk controls
- Develop and refine automated trading models, signal generation, and risk algorithms from research through to production implementation
- Manage ETF creation/redemption processes, incorporating primary and secondary market dynamics into pricing and risk models
- Analyze NAV dislocations, basket composition changes, and ETF/NAV basis relationships to inform trading decisions
- Collaborate with ETF issuers and authorized participants on operational and structural matters affecting trading strategies
- Improve trade execution quality by leveraging microstructure insights, latency management, and venue-specific rules
- Partner with engineering teams to enhance low-latency infrastructure, integrate new indicators and risk controls, and maintain high system performance
- Model cross-asset relationships including interest rates, sector exposures, and index mechanics to expand platform capabilities
- Implement real-time risk management tools such as position limits, P&L monitoring, and regulatory compliance checks
- Take full ownership of existing systematic trading systems, including integration of new signals, backtesting frameworks, and production workflows
- Core Qualifications & Requirements 3-7+ years of hands-on experience in systematic market making or ETF arbitrage trading, with proven record of managing live strategies
- Deep understanding of ETF creation/redemption processes, authorized participant workflows, NAV calculations, and premium/discount dynamics
- Practical experience optimizing trading algorithms, spread models, inventory strategies, and risk management frameworks
- Strong programming skills in Python for strategy development, analysis, and backtesting; C++ experience preferred
- Series 7 and Series 57 licenses required or obtainable promptly
- Knowledge of equity and futures market microstructure, execution venues, latency considerations, and maker-taker economics
- Familiarity with primary/secondary market liquidity, exchange rules, and fee structures
- Nice-to-Have Qualifications
- Background at a proprietary trading firm or market-making organization specializing in systematic strategies
- Experience with fixed income ETFs, interest rate products, and related derivatives such as Treasuries, SOFR futures, or swaps
- Proven end-to-end strategy development from research, testing, deployment, and live monitoring
- Engagement with market regulators, exchanges, or ETF issuers in operational or compliance matters
- Leadership experience in hiring, mentoring, or managing junior trading staff
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