Associate, Trading Operations, Settlements

MarketAxess Holdings Inc.; New York (NY); Hybrid; USD 80,000 - 100,000; Full time

Benefits offered by this job

Free Food

Paid Time Off

401(k) matching

Wellness Stipend

Onsite Healthcare

Tuition Assistance

Job summary

MarketAxess Holdings Inc. in New York seeks an Associate, Trading Operations, to manage trade settlement and corporate actions within a hybrid environment. The role involves ensuring high settlement success rates and working closely with internal and external parties.

Candidates should have 4+ years direct settlements experience and knowledge of DTC and Euroclear, alongside networking and communication skills. The position offers a salary range of $80,000 to $100,000 and various employee benefits, including generous parental leave and tuition assistance.

Qualifications

• 4+ years of direct settlements experience within a broker-dealer, bank, custodian, or asset manager.
• Ability to prioritize in a time-sensitive, deadline-driven environment.
• Excellent written and oral communication skills.

Responsibilities

• Act as a subject-matter expert on settlement processes.
• Manage the full trade settlement lifecycle for securities.
• Investigate and resolve settlement exceptions and fails.

Skills

Direct settlements experience

Knowledge of DTC and Euroclear

Experience with fixed income products

Strong communication skills

Education

Series 99/SIE preferred

Tools

Shadow Financial

Neolink

BMO OLBB

Alert

Job description

Associate, Trading Operations, Settlements

Corporate | New York, New York | Full-time

Company Description

MarketAxess is on a journey to digitally transform one of the world’s largest financial markets, enabling the shift from analog, phone-based trading to a fully electronic marketplace. Why does this matter? Because our platform makes trading fixed-income more accessible, ultimately improving transparency, efficiency, and competition in the marketplace. Changing the way an established industry transacts is no easy feat. There will be twists and turns, because no one’s ever done this before. But now, more than 2,000 clients around the world rely on our solutions, and that number is only expected to grow in the years ahead. We know where we’re going. How we get there is up to us. Join us and help Take Us There.

The Role

As a Trading Operations Associate, you’ll build your career in Financial Services through hands‑on exposure to the full trade lifecycle, including both settlements and corporate actions. This role provides practical experience within the settlements ecosystem, helping you develop a strong operational foundation and expand your knowledge as you grow your career in the industry.

How You’ll Help Take Us There

• Act as a subject‑matter expert, partnering closely with Trading, Middle Office, Custodians, and external counterparties to ensure a high settlement success rate and minimal aged fails.
• Manage the full trade settlement lifecycle for U.S. and international securities, ensuring accurate and timely settlement through DTC, Euroclear, and Fed settlement systems Exhibit general knowledge of both domestic and foreign Buy‑in rules and regulations
• Execute and monitor DVP/RVP, free‑of‑payment, and cash movements across central securities depositories and payment systems
• Investigate, resolve, and elevate settlement exceptions, fails, and breaks, including principal, cash, and custody discrepancies
• Proactively manage aged fails, coordinating with counterparties, custodians, and internal stakeholders to drive resolution and reduce settlement risk
• Perform daily reconciliation of securities and cash positions with custodians, clearing agents, and internal ledger/control accounts
• Partner with Trading, Middle Office, Client Services, and Treasury on settlement‑related issues, trade corrections, and funding requirements
• Contribute to operational risk reduction initiatives by identifying process gaps, documenting procedures, and recommending automation or control enhancements
• Assist with regulatory, audit, and compliance inquiries by providing settlement data, controls evidence, and process documentation

What We’re Looking for

• 4+ years of direct settlements experience within a broker‑dealer, bank, custodian, or asset manager
• Knowledge of DTC (Deliver Orders, DVP/DVP, P&I, Partials, settlement controls), Euroclear (international settlement flows, cross‑border securities, cash movements), Federal Reserve systems (Fedwire Securities and Fedwire Funds)
• Experience with fixed income products (corporates, governments, agencies, munis)
• High attention to detail with strong ownership and accountability
• Ability to prioritize in a time‑sensitive, deadline‑driven environment
• Strong communication skills for interacting with traders, custodians, and external counterparties
• Good multitasking and analytical skills with the availability to prioritize processes and responsibilities
• Excellent written and oral communication skills
• Experience in using Shadow Financial, Neolink, BMO OLBB and Alert is preferred.
• Series 99/ SIE preferred (required to obtain within the first six months of employment)
• Ability to incorporate AI into daily workflows; passion for ethical adoption of AI practices

What You Can Expect from Us

• Hybrid Environment: Our employees enjoy a mix of working in the office and from home
• Free Food: We provide free lunch for employees when they are working in the office. Plus, our offices are stocked with snacks.
• Paid Time Off: Competitive PTO package including vacation and personal days, sick leave and charity days
• Generous Parental Leave: Up to 20 weeks fully paid leave
• 401(k): Dollar‑for‑dollar employer match up to $17,500
• Employee Stock Purchase Plan: Employees can purchase MarketAxess common stock at a discount
• Wellness Stipend: We provide employees with up to $1 000 annually towards gym memberships, home office equipment and more
• Onsite Healthcare: We offer convenient access to world‑class care through Mount Sinai at our Hudson Yards location
• Tuition Assistance and Professional Development: Benefit from live and on‑demand learning, role‑specific training, employee‑led Lunch and Learns and guest speakers
• Core benefits: Highly competitive medical, dental, and vision programs

For job positions in NYC, NY, and other locations where required, the estimated salary range for a new hire into this position is $80,000 USD to $100,000 USD. Actual salary may vary depending on job‑related factors, which may include knowledge, skills, experience, and location. You may also be eligible for annual cash incentives, equity, and other benefit programs.

MarketAxess Corporation and its affiliates provide equal employment opportunities to all persons regardless of age, color, national origin, citizenship status, physical or mental disability, race, religion, creed, gender, sex, sexual orientation, gender identity and/or expression, genetic information, marital status, veteran status, or any other legally protected characteristic in the location in which the candidate is applying.

All of your information will be kept confidential according to EEO guidelines.