Venquis
Associate - Fixed Income Electronic Trader
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Associate - Fixed Income Electronic Trader
Overview
We are seeking an Associate Fixed Income Electronic Trader to join a growing electronic trading business. This role will focus on real-time execution oversight, principal book management, pricing and spread adjustments, inventory management, and escalation handling within an increasingly automated trading environment.
The successful candidate will work closely with senior trading, high-touch execution, operations, data, and technology teams to support efficient execution across both low-touch electronic and high-touch fixed income order flow.
This is a hands-on trading position, providing the opportunity to develop expertise across electronic execution, fixed income pricing, inventory management, and automated trading processes.
Key Responsibilities
Execution Oversight & Escalation
- Monitor low-touch electronic fixed income orders routed through automated trading systems.
- Investigate and manage order rejections, trade breaks, execution failures, and system-generated alerts.
- Manage designated high-touch orders, including larger orders or flow requiring manual intervention.
- Execute trades directly or coordinate with the relevant execution desk where required.
- Escalate connectivity, execution, or platform issues to senior trading and technology teams.
- Provide manual execution support during system outages or periods of disruption.
Principal Book & P&L Management
- Monitor daily and monthly P&L of the principal book and associated inventory.
- Help maintain inventory at appropriate levels and within agreed risk parameters.
- Ensure firm streaming prices remain aligned with prevailing market conditions.
- Support inventory replenishment based on target prices and weighted average cost (WAC).
- Adjust streaming prices and inventory strategies to optimise risk and profitability.
- Develop an understanding of the drivers of principal book P&L.
Pricing & Spread Management
- Review algorithm-generated indicative and firm prices against market conditions and available liquidity.
- Assess pricing from liquidity providers and other market sources.
- Support adjustments to algorithmic spreads during periods of increased volatility or changing liquidity.
- Ensure pricing remains competitive while maintaining appropriate risk parameters.
- Provide trading input into the development and optimisation of pricing and spread logic.
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Inventory Management
- Assess bonds for inclusion within fractional and standard bond trading inventories.
- Evaluate securities based on liquidity, denomination, trading hours, capital requirements, and risk profile.
- Support the approval and onboarding of securities into automated trading inventories.
- Monitor inventory composition and identify securities requiring further review.
Data & Connectivity
- Monitor automated alerts relating to missing prices, abnormal price movements, and other market data issues.
- Investigate pricing discrepancies and liaise with data and trading teams to resolve issues.
- Assist with diagnosing FIX connectivity issues and work alongside technology teams to resolve them.
- Identify recurring data or connectivity issues and escalate where appropriate.
Electronic Trading Development
- Provide trading expertise and market insight into the ongoing development of the electronic trading platform.
- Work with technology and product teams during the development and implementation of new trading functionality.
- Contribute to the optimisation of automated pricing, execution, and risk-management processes.
- Provide feedback on platform performance and potential enhancements.
Post-Trade Support
- Work with Operations on failed settlement investigations and other post-trade issues.
- Act as a first or second-line escalation point for trading and operational queries.
- Assist with relevant trading and settlement calculations where required.
- Identify recurring operational or execution issues and escalate them to senior stakeholders.
Market Awareness & Compliance
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- Maintain strong knowledge of fixed income markets, market structure, liquidity, and trading practices.
- Keep up to date with relevant market and regulatory developments.
- Operate within applicable regulatory requirements and internal compliance procedures.
- Maintain a strong focus on risk management, accuracy, and execution quality.
Required Skills & Experience
- 2-5 years' experience in fixed income trading.
- Experience within electronic, automated, or hybrid fixed income trading environments is highly desirable.
- Strong understanding of bond markets, dealer/client workflows, and liquidity dynamics.
- Experience trading corporate and sovereign bonds, including multiple currencies and jurisdictions.
- Strong understanding of bond trading calculations and pricing mechanics.
- Experience handling both principal and agency trading.
- Experience with both low-touch and high-touch bond trading.
- Familiarity with platforms such as Tradeweb, Bloomberg, and OMS systems.
- Understanding of automated pricing, spread logic, and electronic execution workflows.
- Strong analytical and numerical skills with excellent attention to detail.
- Ability to operate effectively under pressure in a fast-moving trading environment.
- Strong communication skills and the ability to collaborate across trading, operations, data, and technology teams.
Technical Skills
- Advanced Excel
- Python - data analysis, automation, and reporting
- SQL - data analysis, reporting, and investigation
- Familiarity with FIX connectivity and electronic trading infrastructure is advantageous.
Ideal Candidate
The ideal candidate will have a strong foundation in fixed income trading and an interest in electronic and automated execution. They will be analytical, commercially aware, comfortable working with pricing and inventory, and keen to develop their experience across both trading and technology-driven execution.
Venquis is acting as an Employment Agency in relation to this vacancy.
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