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Default Manager / Trader Bond products

Default Manager / Trader Bond products

We have a vacancy at Eurex Clearing AG in Frankfurt am Main

Field of activity

Eurex is the world's largest futures and options exchange and is jointly operated by Deutsche Börse AG and SWX Swiss Exchange. The Exchange is the market place of choice for trading and clearing of derivatives. Eurex has been a pioneer in electronic trading of derivative products for more than a decade, and it offers its customers open, democratic, simple, and cost-effective access from any point around the globe. The trading participants are connected to the Eurex system via a communications network; at present, some 700 locations worldwide are connected to Eurex. Without them Deutsche Börse Group would not have developed into one of the most modern exchange organisations in the world. More than 5,300 employees work for the Group - a dynamic, motivated and international team.

As Default Manager / Trader Bond products within CRO Eurex you are responsible for supporting the default management activities of the clearing house during a potential clearing member default. This includes analysing complex positions, providing hedging proposals and executing trading activities as necessary. Senior candidates will be charged to take responsibility for a specific asset class leading a team of default handling experts. In addition, this role’s task is to ensure the safety of the clearing house by developing state of the art risk concepts for all products and services. In essence, CRO Eurex steers the level and frequency of Eurex Clearing’s margin requirements and constructs the lines of defence.

Your responsibilities

  • Support Eurex Clearing AG’s trading activities during a potential liquidation procedure
  • Take responsibility for position management of liquidation group Bonds during a potential crisis caused by a member default. Analyse and develop hedging and close out algorithms and execute either OTC or listed strategies upon executive board approval
  • Act as secretary for the respective default management committee effectively supervising seconded senior traders from major clearing members in a crisis
  • Develop state of the art auction mechanisms to allow en-block transfers of entire position books to successful auction participants. Design escalation and penalty schemes inline with the lines of defence and governing regulation
  • Act as point of contact for the specific asset class and support internal trainings and exercises
  • Lead industry wide working groups in asset class specific workshops regarding liquidation handling
  • Support the implementation of various risk concepts and approaches to margin methodologies
  • Verification, analysis and development of risk models for all kinds of financial instruments with a focus on bond and cash market products. Candidates will have to develop complex concepts, align internally and externally with clients and regulators and implement within the rulebook (Clearing Conditions) of the Clearing House
  • Representation of CCP Risk Management towards trading platforms, customers and regulators

Our requirements

  • Higher education degree in a financial or quantitative discipline
  • Several years of front office trading experience in either sovereign or corporate Bond products including a minimum of 2 years position and PnL responsibility with either a bank or market maker in a proprietary trading or treasury role
  • Knowledge of respective front office systems including Eurex Bonds, Eurex T7 and Bloomberg
  • Experience in hedging complex credit, rates and currency risks through futures, CDS and Swaps / XCCY Swaps
  • Analytical problem solving skills and the ability to work flexibly in a team environment
  • Highly motivated team player with a willingness to perform in a critical situation
  • Excellent communication and negotiation skills, a proficient manner as well as project experience
  • High commitment, motivation, creativity and ability to work both independently and flexibly in a team
  • Proficiency in written and spoken English
  • Excellent command of MS office, experience in programming SQL or VBA would be a plus

Dedication, team and communication skills, flexibility as well as competent handling of MS Office applications round out your profile. There are numerous good reasons to work for us: responsibility at an early stage, attractive social benefits, an international working environment and a broad variety of career opportunities. Applications from disabled persons are welcome.

Location: Frankfurt am Main

  • Interested?

    We look forward to receiving your application. Please be sure to indicate reference code 50017286

    We would be happy to answer any queries you might have. Simply call us on +49-(0) 69-2 11-1 18 10.

    You can either apply online or send your application to:

    Deutsche Börse Group
    Human Resources
    Reference code 50017286
    D-60485 Frankfurt am Main

    Online Application


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