Position Purpose
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 and invest capital as well as manage their exposure to risk. Their client base comprises of corporations, institutional investors, banks, governments and supranational organizations.
The SPB trading desk sits with the Prime Trading business of Global Markets and offers clients access to markets across APAC. The role holder will be primarily responsible for trading swaps and managing hedging requirements for the market access flow across APAC markets.
Responsibilities
Direct Responsibilities
- Book Management
- Ensure positions, risks and PnL are correctly represented, with breaks and discrepancies are accounted for in a timely manner and correctly reflected in relevant systems and reports.
- Correctly mitigate and hedge against risks that arise on the book from client and trading activities.
- Manage all expiries including TRS, NDFs and other derivatives.
- Oversee all booking activity and associated risks, working together with operations and trading assistant teams
- FX hedging
- Hedge and price all FX exposures between client and trading activities from compo products, including daily trading, deals, dividends, etc.
- Manage funding needs for local-ccy compo products and optimize funding positions where possible.
- Ensure cash accounts are adequately and efficiently funded for settlement, adhering to custody account rules.
- Other daily run the book tasks
Contributing Responsibilities
Trading
- Sourcing and distributing inventory via IDB in China (and some Taiwan) with growth potential in this area including expanding active counterparties / direct lines, generating files
- Manage China delta including hedging using single stock proxy hedges, index swaps
- Manage recall process and issue manual recalls to clients
- Control China trading parameters and processes, ranging from OP / short pricing and rerates, inventory that we show in files, locates parameters etc.
Reporting
- PnL reporting including tracking of fees, enhancing daily flash, summaries by country
- Work to enhanced book tracking on positions and pnl, for e.g. on bespoke arrangements with clients, internal funding / inventory costs etc, working together with pricing analytics team.
- Work closely with (hopefully) larger quant footprint to contribute to business analytics.
- Help on building more useful Kawa dashboards for monitoring, presentation etc, which also frees up a bit of quant’s time to focus on development.
Technical & Behavioral Competencies
- The ideal candidate will have 5+ years of experience trading APAC markets, and is familiar with a variety of trading products including FX Swap, Total Return Swap, Futures.