StoneX | Senior Banknote Trader

Best Forex Bonus; Greater London; Hybrid; GBP 90,000 - 130,000; Full time

Job summary

Best Forex Bonus in the United Kingdom seeks a specialist to trade high volumes of banknotes across major and emerging-market currencies, manage bid/offer spreads for wholesale clients, and source notes from central and commercial banks.

You will price banknotes using spot FX, forwards, and market premiums; actively hedge FX exposure, monitor VaR, and collaborate with Treasury to align hedges with policy.

Responsibilities

• Trade high volumes of banknotes across major and emerging-market currencies.
• Manage bid/offer spreads for wholesale and institutional clients.
• Source notes from central banks, commercial banks, exchange houses, and international counterparties.
• Optimize inventory turnover while balancing availability and carry costs.
• Price banknotes dynamically using spot FX, forward points, and market premiums.
• FX Exposure & Hedging; actively manage FX exposure arising from physical banknote inventories.
• Design and execute hedging strategies using: FX spot and forwards, Swaps and rolling hedge structures.
• Monitor open currency positions and VaR; work with Treasury to align hedges with group FX policy.
• Assess basis risk between physical banknote pricing and interbank FX markets.

Job description

• Job description: Trade high volumes of banknotes across major and emerging-market currencies. Manage bid/offer spreads for wholesale and institutional clients. Source notes from central banks, commercial banks, exchange houses, and international counterparties. Optimize inventory turnover while balancing availability and carry costs. Price banknotes dynamically using spot FX, forward points, and market premiums. FX Exposure & Hedging. Actively manage FX exposure arising from physical banknote Inventories. Design and execute hedging strategies using: FX spot and forwards, Swaps and rolling hedge structures and Natural hedges between buy/sell flows. Monitor open currency positions and Value at Risk (VaR). Work closely with Treasury to align hedges with group FX policy. Assess basis risk between physical banknote pricing and interbank FX markets.