Capital Markets Specialist, Xtrackers/ ETFs

DWS Group; Greater London; Hybrid; GBP 80,000 - 120,000; Full time

Benefits offered by this job

30 days holiday + bank holidays

Hybrid working model

Job summary

DWS Group is seeking a Capital Markets Specialist in London to manage Xtrackers ETP primary market processes and collaborate across Sales, Portfolio Management, Marketing, and Operations. You will enhance market mechanisms and liaise with brokers, exchanges, and clients to improve liquidity and efficiency.

The role involves development of market data, analytics, and product support, with responsibilities spanning cross-functional teams and external partners, in a hybrid UK environment.

Qualifications

• Experience in ETF/ETP capital markets or related trading environments.
• Strong understanding of financial markets and market structure.
• Familiarity with TRS and synthetic replication processes.

Responsibilities

• Manage day-to-day Xtrackers ETP primary market processes focusing on efficiency and scalability.
• Act as Capital Markets Specialist across Sales, PM, Marketing, Operations and Product teams.
• Mitigate operational risks with governance, escalation and resolution procedures.

Skills

ETF/ETP capital markets

Market structure

Risk awareness

Stakeholder management

Project coordination

Data analysis

Python/SQL

Market data platforms

Communication with clients

Education

Mathematics/Finance/Economics/Engineering/CS/Physics degree

Tools

Python

SQL

Bloomberg/Reuters

Job description

About DWS

Today, markets face a whole new set of pressures – but also a whole lot of opportunity too. Opportunity to innovate differently. Opportunity to invest responsibly. And opportunity to make change.

Position Overview

Employer: DWS Group

Title: Capital Markets Specialist

Location: London

About DWS

Today, markets face a whole new set of pressures – but also a whole lot of opportunity too. Opportunity to innovate differently. Opportunity to invest responsibly. And opportunity to make change.

Team / Division Overview

DWS Xtrackers covers a full range Exchange Traded Funds across Equity, Commodities and Fixed Income, as well as Segregated mandates, covering a wide range of index providers and array of benchmark types from multiple ESG flavours to Thematics. DWS has an integrated investment platform with a strong footprint globally.

You’ll be joining the ETP Capital Markets team, which is responsible for managing primary and secondary market activities along with broker dealer relationships and driving strategic initiatives and process improvements across other key external partners’ relationships.

Role Details:

• Perform the day-to-day management of Xtrackers ETP primary market processes, focusing on operational efficiency, scalability, and continuous process improvement.
• Act as a Capital Markets Specialist within Xtrackers, providing strategic, operational, and market expertise to colleagues across Sales, Portfolio Management, Marketing, Operations, and Product teams.
• Identify, manage and mitigate operational risks, ensuring robust governance, escalation, and resolution procedures.
• Partner with internal stakeholders across Trading, Operations, Product, Portfolio Management, Legal, Compliance, and Sales to support new product launches, cross-listings, and platform developments.
• Develop and enhance primary market mechanisms that support efficient creation and redemption activity, enabling tight spreads, strong liquidity, and depth in secondary markets.
• Build and maintain relationships with authorised participants, market makers, broker-dealers, exchanges, and other market infrastructure providers to enhance primary and secondary market efficiency.
• Engage with exchanges regarding market structure, trading platform requirements, market maker programmes, fees, and regulatory developments.
• Serve as a key point of contact for internal and external clients, responding to technical product enquiries and supporting capital markets-related initiatives.
• Produce market intelligence, competitor analysis, and trading analytics to support product development, business strategy, and client engagement.
• Utilise high-frequency market data to develop trading insights.
• Maintain responsibility for the quality and accuracy of European Xtrackers ETP market data, ensuring robust, timely, and scalable data management processes.
• Collaborate with Sales, Marketing, Product Development, and external partners to maximise the value delivered to clients through market data, research, and analytics.
• Support product development and delivery through analysis of competitor products, secondary market dynamics, broker requirements, and market structure considerations, including new product launches and listings.
• Contribute to the ongoing development of the Xtrackers capital markets platform and broader business strategy.

We are looking for:

• Experience within ETF/ETP Capital Markets, Delta One, Synthetic Products, Equity Derivatives, or a related trading environment.
• Strong understanding of financial markets, exchange-traded products, and market structure.
• Knowledge of Total Return Swaps (TRS), synthetic replication, and associated trading and operational processes.
• Strong analytical and problem-solving skills with a high degree of attention to detail.
• Experience managing projects and coordinating multiple stakeholders across complex initiatives.
• Strong risk awareness, with the ability to identify issues and implement effective controls and mitigation measures.
• Advanced data analysis skills, including experience with Python, SQL, or similar analytical tools.
• Experience using Bloomberg, Reuters, or equivalent market data platforms.
• Strong communication and interpersonal skills, with the ability to engage effectively with senior stakeholders, clients, and external partners.
• Self-motivated team player with a proactive approach to delivering results in a fast-paced environment.
• Experience working with ETF market makers, authorised participants, exchanges, or liquidity providers.
• Knowledge of regulatory, operational, and trading considerations relevant to European ETF markets.
• Fluency in an additional European language would be beneficial
• CFA Charter holder or CFA candidate would be beneficial
• Degree in Mathematics, Finance, Economics, Engineering, Computer Science, Physics, or another quantitative discipline.
• Proven ability to leverage AI tools to enhance productivity, optimise workflows to solve business problems, while applying critical judgment to ensure responsible and ethical use of data and AI outputs.

What we’ll offer you:

At DWS we’re serious about diversity, equity and creating an inclusive culture where colleagues can be themselves sand it’s important to us that you enjoy coming to work - feeling healthy, happy and rewarded. At DWS, you’ll have access to a range of benefits which you can choose from to create a personalised plan unique to your lifestyle. Whether you’re interested in healthcare, company perks, or are thinking about your retirement plan, there’s something for everyone.

Some of our core benefits:

• 30 days’ holiday + bank holidays, with the option to purchase additional days
• A non-contributory pension scheme, up to 10%
• Physical and Mental Health Well-Being benefits including (but not limited to) Private Medical Cover, a complimentary GP service and the support of Mental Health First Aiders
• Family friendly benefits including generous parental leave packages (supporting all variations of family set-ups), to healthcare plans and travel insurance
• The opportunity to support our CSR strategy which is focused on combatting climate change and achieving greater social justice. You can make donations to our partner organisations or take part in corporate volunteering opportunities in your local communities by providing on hand support.

DWS’ Hybrid Working model in the UK is designed to find the right balance between in-person collaboration and engagement in the office, which is core to our working culture, and working from home. Employees who wish to sign-up to our Hybrid Working model are required to work in the office two days a week, and given the flexibility to work from home for the remaining three.

Some business groups may need you to spend more time in the office, but this will be discussed and made clear as part of your application and interview process. We will continue to review and evolve our working environments and methods to ensure that we are working in the best way possible for our people.

If you require any adjustments or changes to be made to the interview process for any reason including, or related to a disability or long‑term health condition, then please contact your recruiter and let them know what assistance you may need. Examples of adjustments include providing a change to the format of the interview, or providing assistance when at the DWS office. This will not affect your application and your recruitment team will discuss options with you.

We strive for a culture in which we are empowered to excel together every day. This includes acting responsibly, thinking commercially, taking initiative and working collaboratively.

Together we share and celebrate the successes of our people. Together we are Deutsche Bank Group.

We welcome applications from all people and promote a positive, fair and inclusive work environment.