ETF Market Trader

Intellectual Capital HR Consulting Pvt. Ltd.; Mumbai; On-site; INR 900,000 - 2,100,000; Full time

Job summary

Intellectual Capital HR Consulting Pvt. Ltd. in Mumbai seeks a nimble ETF trading professional to join our fast-paced desk. You will trade ETFs across NSE and BSE, manage liquidity, and push for execution quality with disciplined risk controls.

You should be proficient in Excel; Python/API tools are a plus. You will analyze NAV/iNAV, monitor market microstructure, and contribute to desk profitability through precise, data-driven decisions.

Qualifications

• Experience in ETF trading, proprietary trading or market making.
• Strong understanding of order books, bid-ask spreads, liquidity.
• Comfort with real-time market data and numbers.
• Proficiency in MS Excel; knowledge of Python or APIs is a plus.
• Ability to make fast, disciplined decisions under pressure.

Responsibilities

• Actively monitor and trade ETFs across NSE and BSE.
• Provide competitive two-way quotes and manage bid-ask spreads.
• Monitor order books, volumes, depth and liquidity in real time.
• Manage trading inventory and optimise positions during sessions.
• Identify arbitrage opportunities and execution improvements.
• Maintain risk controls and limit breaches.

Skills

ETF trading

Market Making

Arbitrage

Execution

Order Book Management

Price Discovery

NAV/iNAV Analysis

Liquidity Management

Inventory Management

Risk Management

P&L Analysis

Excel

Python

APIs

Market Microstructure

Tools

Excel

Python

APIs

Job description

ETF Trading & Market Making

• Actively monitor and trade ETFs across NSE and BSE, covering Equity, Gold, Debt and International ETFs.
• Provide competitive two-way quotes and actively manage bid-ask spreads based on market conditions and liquidity.
• Monitor order books, traded volumes, market depth and liquidity in real time.
• Manage trading inventory and optimise positions throughout the trading session.
• Identify opportunities to improve liquidity, execution quality and trading profitability.

2. Arbitrage & Price Discovery

• Identify and execute arbitrage opportunities between ETFs and their underlying basket/index/instruments.
• Monitor ETF prices against intraday NAV, iNAV, fair value and underlying asset prices.
• Identify and act on NAV premiums/discounts and pricing inefficiencies.
• Analyse deviations between ETF market prices and underlying instruments to support efficient price discovery.
• Evaluate transaction costs, market impact and execution feasibility before deploying arbitrage strategies.

3. Execution & Order Book Management

• Execute trades with a strong focus on price, speed, liquidity and minimal slippage.
• Continuously monitor bid/ask spreads, market depth and order-book dynamics.
• Optimise order placement and execution strategies based on prevailing liquidity.
• Minimise execution impact and transaction costs while maintaining trading discipline.
• Respond rapidly to changes in market conditions without compromising risk controls.

4. Risk & Position Management

• Strictly adhere to defined position, exposure and inventory limits.
• Monitor real-time P&L, open positions and trading exposures.
• Manage inventory efficiently and prevent excessive directional exposure.
• Maintain strong awareness of execution risk, liquidity risk, basis risk and market volatility.
• Escalate unusual market movements, liquidity disruptions or risk-limit breaches promptly.

5. Market Monitoring & Trading Technology

• Monitor market-moving events, news and macroeconomic triggers including RBI/Fed decisions, interest-rate movements, CPI/inflation data and global market developments.
• Track volume spikes, volatility, price dislocations and changes in market liquidity.
• Use trading APIs, dashboards, Excel and analytical tools to monitor and execute strategies.
• Work with technology/data teams to improve trading tools, dashboards and execution workflows.
• Develop basic analytical scripts or tools to evaluate spreads, deviations, trading costs and execution quality.

6. P&L, Analytics & Reporting

• Maintain accurate trade logs, execution records and daily trading reports.
• Analyse realised and unrealised P&L, spreads, inventory and execution performance.
• Track trading costs, slippage and execution efficiency.
• Participate in daily/weekly trading desk reviews and strategy discussions.
• Contribute ideas to improve market-making efficiency, arbitrage capture and overall desk profitability.

What We're Looking For

You could be a great fit if you:

• Have experience in ETF trading, proprietary trading, arbitrage, market making or institutional execution.
• Understand the relationship between an ETF, its NAV/iNAV and underlying securities or indices.
• Have a strong understanding of order books, bid-ask spreads, liquidity and market microstructure.
• Are highly comfortable working with numbers and real-time market data.
• Can make fast, rational and disciplined decisions under pressure.
• Have strong attention to detail and respect predefined risk limits.
• Are proficient in MS Excel; knowledge of Python, APIs or trading/market-data tools is an advantage.
• Have a genuine interest in markets and enjoy working in a fast-paced trading environment.

Key Skills

ETF Trading | Market Making | Arbitrage | Execution | Order Book Management | Price Discovery | NAV/iNAV Analysis | Liquidity Management | Inventory Management | Risk Management | P&L Analysis | Excel | Python | APIs | Market Microstructure