Trading Operations - New York

The Firm

XTX Markets is a leading algorithmic trading firm which uses state-of-the-art machine learning technology to produce price forecasts for over 50,000 financial instruments across equities, fixed income, currencies, commodities, and crypto. It uses those forecasts to trade on exchanges and alternative trading venues, and to offer differentiated liquidity directly to clients worldwide. The firm trades over $250bn a day across 35 countries and has over 250 employees based in London, Singapore, New York, Paris, Bristol, Mumbai, Yerevan and Kajaani.

We leverage the talent of our team, modern computational techniques, and state-of-the-art research infrastructure to analyse large data sets across markets quickly and efficiently, maximizing the effectiveness of our proprietary trading algorithms. We are actively seeking new methods and ideas. The models that drive our trading strategies have evolved considerably over the last 10 years, from econometric methods that gave our company its name, to trees, to neural networks, to modern deep learning architectures.

XTX Markets has an unrivalled level of computational resources in the trading industry, with a growing research cluster currently containing over 25,000 GPUs with 650 petabytes of usable storage. Teams across the firm include world-class researchers, developers and technologists with backgrounds in pure math, programming, physics, computer science and machine learning. The firm is also constructing a large-scale data centre in Finland to future-proof its significant computational capabilities.

At XTX Markets, technology is our business, and we are a diverse organization which attracts outstanding talent from across all industry backgrounds. We are focused on teamwork and our people collaborate on all aspects of the business, working openly and with respect for each other, our clients and the market. Our culture is non-hierarchical and one where everyone is valued. We strive for excellence in everything we do.

 

The Role 

An operations role at XTX will provide exposure across all areas of the business. You will be given the opportunity to take ownership of processes early on. With the guidance of the team, candidates will improve and develop new processes using a range of technical skills such as Go and SQL. Resolving a broad set of daily issues will mean regularly interacting with other teams and external counterparties.

Our ethos is to develop robust, scalable solutions that improve the efficiency of the team and accuracy of our data. This is an opportunity to take part in the growth of a company where decisions make a difference. The impact of operations is far beyond what you usually see within large institutions.

XTX is looking for technically minded candidates with enthusiasm and initiative. The role is an opportunity to contribute to a small team with new ideas and make a real and positive impact on the team itself, as well as the firm.

The team has a presence in London, Singapore, New York, and Paris. This role is based in New York. We work in the office at least 4 days a week.

 

Responsibilities

• Trade support, including daily reconciliations of cash, positions, and trading activity.
• Liaise with counterparties and exchanges on daily issues.
• Build and maintain automated processes in Go.
• Work with the technology team to develop new tools and applications.
• Manage cash and collateral across multiple brokers and clearing houses.
• Produce various reports (including P&L, risk, and treasury).
• Monitor risks and escalate issues as necessary.
• Monitor regulatory reporting.
• Participate in the on-call rota of the Operations team.
• Onboard new exchanges, counterparties, brokers, and products worldwide as the business expands.
• Gain exposure to various asset classes across the entire trade life cycle.
• Execute ad-hoc trades.
• Perform ad-hoc data analysis and generate reports.

 

Essential Attributes

• Bachelor’s or Master’s degree with a minimum GPA of 3.5 in Mathematics, Engineering or Computer Science.
• Between 1 and 5 years of relevant industry experience.
• Programming experience (Python, Go) related to automation and data manipulation (SQL) is required.
• Demonstrable knowledge of at least one relevant asset class from a trading operations perspective is preferred.
• Strong analytical and problem-solving skills.
• Ability to analyse and debug problems in a fast-paced environment.
• Excellent communication and cross-team collaboration skills.
• Disciplined self-starter with a high degree of motivation and rigour.
• You enjoy challenging others and being challenged in return, to achieve the best solutions for any problem or process.

Interview Process

• 20-minute Teams Interview: speak with a Hiring Manager or a senior team member to discuss your experience and learn about the role.
• Home Assignment: complete a test simulating a task you might perform in the role. This will assess your ability to develop an automated solution to a business problem.
• Team Interviews: participate in four one-hour interviews with members of the Operations team, focusing on core skills such as maths/statistics, problem solving, coding, and a few brainteasers. One of these interviews to be conducted remotely with Singapore team.
• Final Interview: with our COO and CEO Americas to discuss your motivations, assess your suitability for the role and the firm, and answer broader behavioural questions.

 

Benefits

• Complimentary Equinox membership.
• Extensive medical benefits including free medical insurance.
• Breakfast and lunch provided during weekdays.
• Support for caregivers, access to emergency dependent care and childcare services.
• Beautiful Hudson Yards office.
• 25 days paid time off per year + statutory holiday and paid sick days.
• Generous compensation and 401(k) contributions.

 

The base salary range for this role is between $160,000 to $200,000 depending on relevant job-related skills and experience. You will be eligible for participation in a discretionary annual performance bonus scheme and will enjoy a comprehensive package of benefits. All bonuses, benefits, and any sign-on payments are in addition to the base salary range stated.