BNP Paribas’ Global Markets business offers a broad range of products and services in the global interest rates, credit,currency, equities & commodity markets. Global Markets help their franchise of clients find effective ways to raise andinvest capital as well as manage their exposure to risk. Their client base comprises of hundreds of corporations,institutional investors, banks, governments and supranational organizations.
Global Markets has the scale and reach to conduct business anywhere in the world and deliver products denominatedin almost all of the world’s currencies. Their global network comprises more than 1,700 professionals working on oursix main trading floors in London, Hong Kong, New York, Paris, Singapore and Tokyo. They are supported by regionaloffices throughout Europe, the Americas, Middle East and Asia-Pacific.
Global Market’s Automated Market Making desks provide continuously and electronically liquidity on a range of cashand derivative listed instruments. The Global Equities AMM desks in particular cover equities securities, ExchangeTraded Funds (ETFs) and listed equity and index derivatives (Futures, Options). AMM Quant traders are continuouslycreating and optimising strategies, automatons and algorithms to improve liquidity provision on a wide spectrum ofunderlying, asset classes and markets.
AMM’s ETF desk provides liquidity on regulated exchanges, MTFs and directly to BNP Paribas Institutional, Hedge-Fundand Corporate clients. It also partners with leading global ETF Issuers for their ETF range on-exchange performance,and competes with the most technologically advanced market-making firms globally.
In Europe BNP Paribas currently ranks as #1 Investment Bank for ETF electronic Market-Making as well as #1 InvestmentBank for ETF Institutional flow.
Job Purpose
The ETF Quant Trader Graduate works as part of a team of senior traders, responsible for maintaining markets (providing liquidity both on and off exchanges) and managing the technical platform that enables them to do so. This role requires a unique blend of trading and technical expertise, including product knowledge, high-performance coding, and an understanding of a complex and ever-evolving technical platform. It’s a fast-track to gaining the level of expertise necessary to generate the next tech evolutions, as well as strategies and algorithm ideas.
This role perfectly encapsulates the future of the trader’s profile and role in banks and hedge-funds.
Mandate covers ETFs issued in Europe, and all possible instruments and contracts used as hedges (Equities, Futures, Swaps, FX globally).Core accountabilities of role
The ETF Quant Trader – Graduate
- Supports Quant Traders in the continuous improvement of BNP Paribas’s electronic Market-Makinginfrastructure
- Supports Quant Trader in the monitoring of the activity (positions, flows, instantaneous market risks,infrastructure sanity) for eMM
- As such, operates under the direct guidance of the Senior ETF Quant Trader with responsibility to report andescalate to line management and managing day-to-day with high level of expertise in the product she or he isresponsible for.
Missions shared with all other Flow and Quant ETF Traders
- With the support of Quant traders and Strategists, develops and maintain algorithms and models
- To provide market liquidity through market making, and hedge accordingly
- To monitor market news and events and evaluate the risk and opportunities for positions and strategies
- To ensure proper booking in the system, monitor front to back chain, and control operational risk.
Analysis /Research / Development
- Research on new quantitative strategies and back-test them.
- Bring new strategy to production environment, improve current strategies
- Follow the latest quantitative techniques (research papers, corporate intelligence…)
- Enhance PnL sources diversification, use all available resources to maximize revenue.
Trading
- Trade and take care of the allocated strategies. Master Trading tools
- Perform the necessary backup on production to ensure business continuity.
Control
- Make sure trading is in line with market risks and local limits.
- Propose enhancements to minimize potential Operational Risks.
- Make sure trading strategies are fully compliant with BNPP Compliance and Conduct framework.
Report/Share
- Make a report of the research project he is in charge (timeline, document, …)
- Make a trading report of the strategies he is in charge (risk analysis, exposures, …)
- Share research projects and experience with other AMM traders.
- Direct contribution to BNP Paribas Control framework.
- Work as a team.Experience, Qualifications & Competencies
Knowledge and Skills
- Analytical background: STEM/Computer Science MSc (additional MSc in Finance a plus).• High proficiency and autonomy in object-oriented programming: Python required• Uncompromising attention to detail and rigor. Ability to work in a fast-paced environment.• Ability to quickly apprehend and intellectual curiosity for complex technological infrastructures.
Experience
- Coding experience required (Computer Science MSc with relevant internships is acceptable).• Pandas/Numpy/SciKit and other relevant machine learning libraries is a plus.Conduct
- Be a role model, supporting and fostering a culture of good conduct;
- Demonstrate proactivity, transparency, and accountability for identifying and managing conduct risks;
- Consider the implications of your actions on colleagues.
Please note
- You may only apply for up to 1 Graduate Programme (or 1 Summer Internship Programme) per recruitment year.
- Successful candidates for this role must be based in London from the start of their programme.
- Candidates are encouraged to submit their application as soon as possible to avoid disappointment.
Unsuccessful candidates’ CVs will be shared with other teams within BNP Paribas Global Markets and considered for potentially suitable roles. In this way we hope to maximise opportunities for candidates and hiring teams. By submitting your CV for this role you agree to it being shared securely with other hiring teams within BNP Paribas Global Markets for the relevant recruitment round.