Delta One Trader (Index & Futures Trading Desk)

CICC; Hong Kong; On-site; HKD 900,000 - 1,800,000; Full time

Job summary

CICC seeks a Delta One Trader to join the Index & Futures trading desk in Hong Kong. The role emphasizes flow execution and client-facing activities across A-share index futures, index baskets, and Delta One products.

The ideal candidate brings strong knowledge of China A-share market microstructure, derivatives rules, and risk management, with excellent communication to clients and internal stakeholders under pressure.

Qualifications

• Bachelor’s degree or higher in Finance, Economics, Financial Engineering, Quantitative Finance, or related disciplines.
• 2–5 years trading experience on a Delta One, Index Arbitrage, ETF, or Equity Derivatives trading desk at a major investment bank, securities firm, or hedge fund.
• Strong client-facing communication, risk management, and under-pressure decision making.

Responsibilities

• Execute daily client orders across A-share index futures and related products with precision.
• Provide two-sided pricing and quotes for index-linked products to institutional clients.
• Build and maintain relationships with institutional clients, sales, structurers and internal stakeholders.
• Manage real-time desk exposure and margin requirements.
• Execute hedging strategies to maintain market-neutral positions within risk limits.
• Oversee daily desk operations, cash flow management, and trade lifecycle.

Skills

Delta One trading

Client-facing

Risk management

Education

Bachelor's degree in Finance/Economics/related

Tools

Job description

We are seeking an energetic, detail-oriented, and client-focused Delta One Trader to join our Index & Futures trading desk. This role primarily focuses on flow execution and client-facing business, covering A-share index futures, index baskets, and related Delta One products.

The ideal candidate will combine deep technical expertise in China A-share market microstructure and derivatives rules with exceptional client-facing skills, agile decision-making, and strong risk management capabilities under pressure.

Client Execution & Flow Trading:

• Execute daily client orders across A-share index futures, index swaps and underlying cash index baskets/ETFs with high precision and low tracking error.
• Provide competitive pricing and two-sided quotes for index-linked products, swaps, and flow trades to institutional clients.
• Build and maintain strong relationships with institutional clients, sales, structurers and internal stakeholders, ensuring seamless flow execution and communication.
• Manage real-time desk exposure resulting from client flows and book positions.
• Execute dynamic hedging strategies across index futures, cash equities, and ETFs to maintain market-neutral positions within risk limits.
• Oversee daily desk account operations, cash flow management, margin requirements, and trade lifecycle maintenance.

Market Analysis & Pricing Mechanics:

• Monitor and analyze fair value, basis dynamics, carry/funding costs, and rollover yields for A-share futures and underlying stocks.
• Demonstrate a thorough understanding of index rebalancing, constituents weighting, and index pricing arbitrage mechanics to optimize business outcomes.

Experience:

• Bachelor’s degree or higher in Finance, Economics, Financial Engineering, Quantitative Finance, or related disciplines.
• 2–5 years of trading experience on a Delta One, Index Arbitrage, ETF, or Equity Derivatives trading desk at a major investment bank, securities firm, or hedge fund.

Domain Expertise:

• Deep technical understanding of China A-share trading rules, CFFEX futures mechanisms (margin, position and trading limits, settlement rules), and market microstructure.
• Solid grasp of index calculation methodologies, pricing logic (fair value pricing, futures basis, roll dynamics), and hedging strategies.
• Upright, humble, diligent with high moral values

Strong Client-Facing Skills:

Excellent verbal and written communication skills with the ability to articulate market insights and pricing logic clearly to clients and internal stakeholders.

Stress Tolerance & Resilience:

Ability to thrive and remain calm in a fast-paced, high-pressure live trading environment.

Agility & Adaptability:

Quick decision-making skills with high situational awareness to handle high-volatility market events and unexpected execution scenarios.

Disclaimer

CICC is committed to fostering an environment of equity and diversity. We recognize the importance of fair treatment in all aspects of our business, from recruitment and hiring to professional development and advancement.

CICC aims to build an inclusive workplace that values the diverse backgrounds, ideas, and cultures of our employees. We strive to create an environment where every employee feels heard, supported, and empowered to contribute to the company's growth and success. By leveraging our collective strengths, we aim to drive innovation and achieve excellence in the industry.

It is CICC’s responsibility to provide equal employment opportunities to all prospective employees, regardless of race, ethnicity, gender, age, disability, or any other characteristics protected by law.

The preceding job description has been designed to indicate the general nature and level of the work to be performed by employees within this classification. It is not intended to contain or be interpreted as a comprehensive inventory of all duties, responsibilities and qualifications required of employees assigned to this job.