Delta One Trader (Index & Futures Trading)

A top tier investment bank is seeking a, and client-focused Delta One Trader to join its Index & Futures trading desk.

This role primarily focuses on flow execution and client-facing business, covering A-share index futures, index baskets, and related Delta One products.

Key Responsibilities:

Client Execution & Flow Trading:

1. Execute daily client orders across A-share index futures, index swaps and underlying cash index baskets/ETFs with high precision and low tracking error.
2. Provide competitive pricing and two-sided quotes for index-linked products, swaps, and flow trades to institutional clients.
3. Build and maintain strong relationships with institutional clients, sales, structurers and internal stakeholders, ensuring seamless flow execution and communication.

Risk Management & Desk Maintenance:

1. Manage real-time desk exposure resulting from client flows and book positions.
2. Execute dynamic hedging strategies across index futures, cash equities, and ETFs to maintain market-neutral positions within risk limits.
3. Oversee daily desk account operations, cash flow management, margin requirements, and trade lifecycle maintenance.

Market Analysis & Pricing Mechanics:

1. Monitor and analyze fair value, basis dynamics, carry/funding costs, and rollover yields for A-share futures and underlying stocks.
2. Demonstrate a thorough understanding of index rebalancing, constituents weighting, and index pricing arbitrage mechanics to optimize business outcomes.

Experience:

1. Bachelor’s degree or higher in Finance, Economics, Financial Engineering, Quantitative Finance, or related disciplines.
2. 2–5 years of trading experience on a Delta One, Index Arbitrage, ETF, or Equity Derivatives trading desk at a major investment bank, securities firm, or hedge fund.

Domain Expertise:

1. Deep technical understanding of China A-share trading rules, CFFEX futures mechanisms (margin, position and trading limits, settlement rules), and market microstructure.
2. Solid grasp of index calculation methodologies, pricing logic (fair value pricing, futures basis, roll dynamics), and hedging strategies.