Main purpose of the role:
The Commodities trading desk at Commerzbank is looking for a highly motivated individual with a strong level of intellectual curiosity to join their Base metals trading desk. As a base metals trader your task will be to further develop the market making business. Your daily tasks will be to structure, price, trade and manage positions on Base metals derivatives and LME warrants in order to exploit and develop the bank's core client franchise in a risk controlled, capital efficient and cost effective manner.
Key activities:
- Effectively market make, manage risk and keep senior staff informed of current risk positions, be up to date with the rules and regulations of the base metals markets and exchanges.
- Work with the Head of Commodity trading to implement the most optimal trading strategies on base metals assets.
- Interact with OTC/listed brokers to make sure the best execution is always performed.
- Build and maintain strong relationship with Trading counterparties.
- Monitor current market levels and competitor pricing, mark the trading books and make available such market data across the Commodity platform, reconcile and ensure accuracy of Risk and Profit & Loss figures on a daily basis.
- Keep trading books within all required risk limits.
- Develop technical, market, product and technological expertise in a fashion consistent with the strategic aims of the business.
- Act as subject matter expert on base metals in the bank and represent the business with all internal stakeholders.
- Coordinate with Support units to set up any new trading instruments in the various trading systems.
- Work with the operations team to enable them to handle the settlement and delivery of the various financial and physical instruments.
- Actively promote the base metals franchise with Sales teams. Provide accurate and timely prices on their requests and provide regular trade ideas and market comments.
- Assist in the further automation and digitisation of the base metals business, coordinate projects, monitor performance against objectives.
- Typical instruments traded include spot, futures, forwards, swaps, vanilla options and exotic options, both cash settled and physically settled.
Key requirements:
- Experience of at least 5 years in Base metals trading is essential.
- Expert knowledge of the LME market. Sharp technical expertise in base metals derivatives contracts.
- The successful candidate will have a solid understanding of the various base metals supply and demand fundamentals.
- Robust comprehension of who are the key European consumers and producers.
- Ability to carry out execution of multiple base metals contracts in a short timeframe in the most efficient, compliant and cost-effective way.
- Excellent numerical and analytical skills.
- Solid problem-solving abilities.
- Strong commercial mindset and high communication skills.
- High entrepreneurial mindset required to develop a business.
- Excellent P&L track record.
- The successful candidate is likely to be educated to degree level in Mathematics, Physics, Engineering, Econometrics, or similar highly quantitative discipline.