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Overview
A leading US investment bank is seeking an experienced Derivative Dairy Trader to join its global commodities platform. The successful candidate will be responsible for developing and managing dairy derivatives trading strategies across CME-listed dairy products, providing liquidity to clients, managing risk, and identifying proprietary trading opportunities. This is a front-office revenue-generating role offering exposure to institutional clients, dairy producers, processors, food manufacturers, commodity trading houses, and financial investors.
Key Responsibilities
- Manage a proprietary and client-facing dairy derivatives trading book.
- Trade CME Dairy futures and options, including:
- Class III Milk
- Class IV Milk
- Dry Whey
- Non-Fat Dry Milk (NFDM)
- Cheese
- Butter
- Develop and implement trading strategies based on fundamental, technical, and quantitative analysis.
- Price, structure, and execute dairy hedging solutions for commercial and institutional clients.
- Monitor market risk, position limits, VaR, and P&L performance.
- Analyze global dairy supply and demand dynamics, milk production trends, weather impacts, feed costs, and macroeconomic developments.
- Build and maintain relationships with dairy producers, cooperatives, processors, food manufacturers, commodity trading firms, hedge funds, and asset managers.
- Collaborate closely with sales, research, structuring, and risk management teams.
- Identify new market opportunities and contribute to growth initiatives across the agricultural commodities business.
- Prepare market commentary and trade ideas for both internal stakeholders and external clients.
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Requirements
- 5+ years of dairy derivatives trading experience gained within an investment bank, commodity trading house, dairy cooperative, hedge fund, merchant, or commodity brokerage.
- Strong understanding of CME dairy contracts and dairy market fundamentals.
- Proven track record of generating profitable trading P&L while operating within a robust risk management framework.
- Experience marketing and executing hedge solutions for commercial dairy clients.
- Strong quantitative, analytical, and problem-solving skills.
- Excellent communication and relationship management abilities.
- Bachelor's degree in Finance, Economics, Agriculture, Mathematics, Engineering, or a related discipline.
- Series 3 and/or relevant regulatory registrations preferred.
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Preferred Experience
- Existing network of dairy producers, processors, cooperatives, food manufacturers, and institutional market participants.
- Options trading and volatility management expertise.
- Experience covering both North American and global dairy markets.
- Understanding of related agricultural and feed markets including corn, soybean meal, and energy inputs.
Key Success Measures
- Trading profitability and risk-adjusted returns.
- Growth in client revenues and market share.
- Development of new client relationships and commercial opportunities.
- Effective management of risk exposures.
- Contribution to the broader agricultural commodities franchise.
This role would suit an established dairy derivatives trader or senior dairy trader looking to join a tier-one commodities platform with significant balance sheet support and access to a leading institutional client base.
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