Trading Operations Analyst

Shift Pattern:

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Overall Purpose:

• To provide an effective first-line supervision for all trading activity on the Ring and LMEselect

• To participate in the determination of the LME’s Futures reference prices, both on the Ring and on LMEselect

• To participate on the Ring Disciplinary Committee responsible for ensuring conformity to the LME’s Ring Dealing Regulations and Code of Conduct

• To ensure the Error Trade Policy and Dynamic Price Bands on LMEselect are managed effectively

• To participate on the Benchmark Pricing Function in the determination of the Platinum and Palladium auction prices

• To determine the Closing Prices for Traded Options

• To learn all processes across LME venues and functions managed by Trading Operations

• Use Quantitative skills to support the LME strategic business initiatives

• Quantitative analysis of any periodic reviews or recalibrations for trading methodologies and the Volatility Control Mechanisms within Trading Operations

• Participate and contribute to the TOWG monthly meetings on all quantitative related projects for Trading Operations

• Providing support to the Quantitative Analytics Supervisor by developing, automating and managing existing processes within Trading Operations adhering to the Quantitative Governance Framework

Responsibilities:

• Ensure the LME’s reference prices are determined in a manner that promotes the LME and meets the commercial and regulatory requirements of the job in full

• Participate on the Pricing Committee on the Ring for the determination of Official and Closing Prices

• Enforce the LME’s Ring Dealing Regulations and Code of Conduct; as a participant on the Ring Disciplinary Committee this involves imposing disciplinary procedures for rule breaches

• Establish Settlement Prices on LMEselect for Ferrous Prices and new product launches for cash-settled futures to be traded electronically

• Ensure the procedures around the Error Trade Policy and Dynamic Price Bands on LMEselect are managed effectively and consistently, with all relevant information updated and documented

• Carry out the procedure for the determination of the Closing Prices for Traded Options using LMEprism by making reference to all relevant trading activity and participant submissions

• Ensure the Platinum and Palladium prices are determined effectively through daily auctions on LMEbullion

• Ensure Benchmark Regulation Compliance as a Benchmark Administrator.

• Provide regular updates to LMEC on all relevant pricing-related matters, and to ensure the reference price are transmitted accurately on a daily basis through LMEprice

• Provide Market Surveillance with all relevant observations and referrals from trading activity across LME venues

• Effectively deal with all stakeholder queries relating to LME’s pricing procedures and Trading Operations in general

• Recommend and promote enhancements to the management on issues that will benefit the LME’s price discovery procedures, and to participate in all relevant projects and initiatives

• Provide tutorials and education to LME staff on issues relating to price discovery for Futures and Options

Experience Required

A combination of the below would be very useful.

• Four years experience either working for a Member/Client, other Exchange or the LME in the trading environment

• A knowledge or experience in electronic trading

• A good knowledge of Benchmark Administrator responsibilities

• A thorough knowledge of market terminology and the LME Rules and Regulation.

• A thorough understanding of the forward price curve for each metal

• A thorough understanding of the dealing regulations

• Where appropriate, a knowledge of Traded Options

Skills Required

Technical skills are highly valued, especially data analysis / automation. The following technical skills would be particularly useful.

• Python

• SQL

• Power Bi

The LME is committed to creating a diverse environment and is proud to be an equal opportunity employer. In recruiting for our teams, we welcome the unique contributions that you can bring in terms of education, ethnicity, race, sex, gender identity, expression & reassignment, nation of origin, age, languages spoken, colour, religion, disability, sexual orientation and beliefs. In doing so, we want every LME employee to feel our commitment to showing respect for all and encouraging open collaboration and communication.