Trade Support Specialist / Futures Administrator

Location: London, United Kingdom

 

We have a unique opportunity for a trade support specialist to join our dedicated Trade Support team within our Sugar business unit. Reporting to the Trade Support Manager the successful candidate will work closely with the trading team to support futures and physical trading activity. 

The successful applicant will have gained experience working in futures trade support ideally within a soft commodities trading background and be prepared to work flexi-time as requested. Basic hours of work  12.00 pm to 20.00 pm (or 7.30 am to 16.00 pm during holiday cover periods only). 

 

RESPONSIBILITIES 

  • Daily recording and reconciliation of Futures / options trades

§  Working with traders to ensure all tickets are correctly filled out

§  End of day input into our CTRM trading system (ITAS) of broker futures trades,  internal futures trades  (transacted between Man entities) and internal cross futures trades (transacted between trading departments)

§  Reconciling broker confirmations to trades booked to ensure that all trades are captured correctly in CTRM (ITAS).

§  Instructing clearers to transfer internal futures between futures sub-accounts

§  Sending futures order fill confirmation recaps to traders

§  Daily reconciliation of broker/clearer statements against ITAS

§  Break Resolution,  resolve & identify booking discrepancies

§  Day to day interface with to traders, clearers, brokers, clients and overseas subsidiaries who trade through London on all futures related queries.

§  Daily reporting  to futures desk/Accounts/Clearers of anticipated trade discrepancy cash adjustments.

§  Recording External Broker trading volumes and verifying external brokerage invoices

§  Monitoring of ‘exchange for physical’ (EFP) pricing to come position

§  Sending pricing recaps to clients for SEO/BEO pricing contracts

§  Handling of give-up agreements

§  Assisting ICE with surveillance requests

§  Monitoring of OTC products :-

o  Recording of all OTC products

o  Checking of deal confirmations to physical contracts

o  Signing, returning & filing of deal confirmations

o  weekly reconciliation of Clearer’s statements against OTC records

o  Co-ordinating the processing of structured products between Compliance team and other internal departments.

§  Futures expiry duties  :-

o  Cross up of the futures roll to all the house Accounts with open positions

o  Abandon/Exercise maintenance of Options

o  Settlement of expired futures (Brokers side)

§  Provide support and guidance to ensure compliance with all market regulations and adherence to internal control processes.

 

  • Monitor and circulate daily Physical & Futures Position reports and/or other trading reports as required by the business and answering all associated queries. This includes :-

§  Daily reporting of clearing position

§  Daily reporting for futures/ physicals positions

§  Daily reporting of Pricing to come

§  Allocation of House rolled futures to correct physical contract at futures expiry 

·           Alert management/relevant parties to high priority issues or risks to daily business 

·           Review and update contract costs provisions, commissions and P&L’s ensuring that data is accurate, complete and consistent. 

·           Provide cover and support for other Trade Support specialists during busy times and for annual leave.

 

PERSON SPECIFICATION

 

  • Relevant experience in futures trading operations (preferably soft commodities)
  • Strong knowledge and experience of the commodity markets for both exchange listed products and OTC derivatives (Swaps, Options).
  • Solid knowledge of front to back office trade life-cycle is essential
  • Proven experience  of  physicals trading, hedging strategies and market risk
  • An awareness and appreciation of compliance regulation and operational risk throughout the life cycle of a trade
  • Good numerical, analytical and problem-solving skills
  • Close attention to detail
  • Disciplined, organised and methodical approach to work
  • Advanced  competency of Microsoft Excel (ITAS would be an advantage).
  • Ability to identify, analyse & resolve differences in P&L and positions
  • Ability to work well under pressure and to time critical deadlines
  • Knowledge of SAL/RSAL/ ICE no.11/ ICE Whites Futures Contract rules would be an advantage

 

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