Head, Options Market Making

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Job Description:

Job Description

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A. Multi-Asset Options Market Making & Execution Strategy

· Develop quoting infrastructure and execution logic for:

o Commodities (Ags, Softs, Energy, Palm Oil)

o Foreign Exchange (G10 & EM)

· Develop quoting infrastructure and execution logic for:

o Vanilla options

o Barrier options (single/double KO/KI)

o Accumulators, TARFs, spread options

o Quanto and currency-linked structures

· Formulate and execute proprietary views on volatility and skew within approved risk limits

· Manage flow, positioning, and inventory to optimize book P&L and margin retention

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B. Real Asset-Linked Hedging & Physical Flow Integration

· Design and manage options strategies that hedge real optionality in:

o Crushing/refining spreads

o Logistics, storage, and delivery flexibility

o Commodity/FX hybrid structures

· Execute calendar spread and basis option hedges to manage optionality in supply chains

· Partner with commercial and physical desks to integrate:

o Physical flow knowledge into pricing and trading strategies, hedging into structured supply or sales agreements

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C. Advanced Risk Management & Control Framework

· Own comprehensive risk oversight across all desk activities:

o Greeks management (delta, gamma, vega, volga, vanna)

o Payoff smoothing and reshaping of illiquid exotic exposures

o Intraday and end-of-day P&L, stress, and scenario analysis

· Ensure tight controls and governance on:

o Model usage and assumptions

o Trade capture, lifecycle, and settlement processes

o Margin and capital utilization

· Champion use of risk techniques such as:

o Payoff smoothing

o Static replication and delta-gamma approximation

o Scenario overlays and discrete path hedging

· Implement proprietary risk optimization strategies that selectively increase exposure to mispriced volatility or skew

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D. Market Intelligence, Industry Networking & Structuring Insights

· Build deep market intelligence via:

o Industry relationships and counterparties

o Tracking large physical and financial flows

o Understanding evolving market structures, liquidity regimes, and vol market microstructure

· Strategize and advise on structured product innovation to meet:

o Producer and consumer hedging needs

o Internal margin optimization and flow pricing

· Anticipate and position for major macro and micro drivers of volatility:

o Supply chain shocks

o Currency shifts

o Regulatory change

o Positioning dynamics and dealer gamma exposure

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E. Leadership, Buildout, and Stakeholder Management

· Build and lead a high-performance team spanning:

o Vanilla and exotic options traders

o Trading assistants and quant support

o Operational and control specialists

· Oversee:

o Desk buildout: risk systems, trading platforms, pricing tools

o Operational integration with Middle Office, Risk, Compliance

o Recruitment, training, and performance management

· Drive collaboration with:

o Structuring (pricing, innovation)

o Physical and commercial teams (flow visibility, integration), Risk and finance (limits, P&L reporting, capital usage)

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Requirements

• Experience in market making on both exchange and OTC platforms
• Prior exposure to algo trading / electronic quoting engines
• Established network of counterparties, brokers, and liquidity venues
• Commercial mindset with ability to see structured flows as both risk and opportunity
• 10+ years in options trading, market making, or structured derivatives across:
• Commodities (agriculture, energy, palm, etc.)
• FX (G10, EM, NDF-linked structures)
• Crypto (institutional options trading experience preferred)

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To apply, please submit your resume and cover letter outlining your interest for this role.