Description
This role sits in London but within the Global BrokerTec Fixed Income business that operates across APAC, EMEA and US with the primary offices being London and New York. The chief responsibility is to grow the profitability of the Fixed Income business through the increased use of electronic trading in both existing core markets and into new adjacent sectors and product lines. There will be particular focus to bring new business sectors to market in Fixed Income, enhanced functionality on the existing suite of products, introducing new trading and matching methodologies and developing new sectors. Alongside leading a global team, the person in this role will work closely with the sales and technology divisions the US, London and Europe, and will be responsible for specifying market requirements for current and future products through conducting market research supported by proactive customer outreach and visits and through regular dialogue with third parties where appropriate.
Key Accountabilities include;
- Oversight and management of the Dealer-to-Dealer EU Repo and US Repo CLOB teams and BrokerTec Quote D2C trading solution
- Strong initial focus to optimise the team set up, coverage and relationship focus across EU and US CLOB and global support for BTEC Quote.
- Oversee the of the onboarding of new clients and drive the customer pipeline: Identify prospective clients, customer segments and field external inquiries.
- Initiating and driving product development either complimentary or embedded in existing products and systems or as a new standalone service.
- Central Banks/Treasuries Relationships: Including Government bodies, relevant Trade Associations relationship management with regular correspondence and visits to nurture relationships and deepen the value of BTEC overall positioning.
- Financials and Billing leadership: Brokerage fee agreements: strategic and competitive view, working closely with closely with Pricing team on analysis, incentive schemes and structures to drive adoption and support from customers across all segments and markets on a regular basis. Overview of monthly accounts/fees and revenue performance and examine each client performance and overall levels of business. Ownership of ongoing issues for Repo markets with deep familiarity of fee schedules and relevant commission structures.
- BTEC Statistics: maintain oversight and knowledge of daily volume reports for analysis (Power BI analysis), record keeping, Ronia volumes, RFR Data sets, SOFR and minimum brokerage fees where relevant. Monitor revenue and ADV targets.
- Vendor relationships: Adaptive, FICC, LCH Ltd and SA, Euroclear, Clearstream, ION, List, Broadridge (ISV's), Eurex Clearing, BME Meff Clear and OMS providers for buy side integration and connectivity on Quote.
- Desk heads: maintain or develop relationships with most desk heads across all jurisdictions to better understand our clients. Semi-annual desk heads dinner in EMEA and US. Establish Customer Working Groups where applicable to foster partnership.
- Member of BTEC BLM Management Team and deputising when required, acting as an alternate for the MD BrokerTec when on vacation as directed.
- Help define the overall strategic roadmap for Repo and other Fixed Income products
- Thought leadership within the repo space - continually monitoring markets / trends, discuss with customers and keep ahead of the curve
Person Specification
- Demonstrate Leadership ability, motivate and manage team to succeed, create an Org structure based on best skills, depth of talent and create an environment where employees are encouraged to participate and add value with no downside. Delegate effectively while also recognising when you need to take ownership - being effective at managing and cascading information down and up to senior management
- Strong understanding of Fixed Income with detailed knowledge of Repo and Securities Lending markets plus any associated relevant product, gained through trading exposure or similar relevant experience in product or development
- Good general product knowledge across multi-assets in Rates/FI and Credit
- Considerable experience of working with and delivering trading platform products, functional enhancements, new product solutions
- Ability to identify and refine commercial opportunities
- Understand and anticipate changing business needs as a result of regulatory impact and customer feedback
Based in London, with a willingness to travel for day-to-day business both internal and external requirements, ensuring a regular presence in the US for a global position. Standard hours are 7.30am - 5pm
CME Group: Where Futures Are Made
CME Group (www.cmegroup.com) is the world's leading derivatives marketplace. But who we are goes deeper than that. Here, you can impact markets worldwide. Transform industries. And build a career shaping tomorrow. We invest in your success and you own it, all while working alongside a team of leading experts who inspire you in ways big and small. Problem solvers, difference makers, trailblazers. Those are our people. And we're looking for more.
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