Derivatives & OTC Markets

Silicon Data; United States; Remote; USD 180,000 - 280,000; Full time

Benefits offered by this job

Flexible work arrangements

Remote-friendly culture

Job summary

Silicon Data seeks a Derivatives & OTC Markets lead to own the franchise end-to-end—from product design to licensing and market development. You will define tradeable expressions, settlement mechanics, and the ISDA framework, and you will build the counterparty book across dealers, funds, neoclouds, and data-center operators.

This early, high-ownership role reports to the Founder/CEO and operates with high autonomy in a small, fast-moving team.

Qualifications

• 7+ years in derivatives including structuring, product development, origination, or index commercialization.
• Direct experience with OTC products: block trades, swaps, forwards, and related documentation.
• Strong understanding of ISDA Master Agreements, Schedules, CSAs, and related confirmations.
• Experience building a counterparty book and managing relationships.
• Comfort in a small, fast-moving early-stage environment with high autonomy.

Responsibilities

• Define tradeable expressions of our indices, including settlement mechanics, fixing windows, tenor structures, and roll conventions.
• Develop the documentation stack for bilateral trades, ISDA architecture, and license scope.
• Originate with banks, funds, energy traders, neoclouds, data-center operators, and hedgers.
• Run the commercial motion around licensing for derivatives and structured products.
• Cultivate liquidity by engaging market-makers and brokers; manage exchange/clearing partnerships.
• Provide market intelligence to product and methodology teams to shape the roadmap.
• Represent Silicon Data to trading desks and at industry conferences.

Skills

Derivatives experience

Origination

ISDA architecture

Contract design

Market development

Job description

Silicon Data builds the data infrastructure for the global compute economy.

As demand for AI infrastructure accelerates, compute is becoming a tradable asset class. Silicon Data provides price transparency, benchmarking, and standardized market indices that let participants discover price, manage risk, and make data-driven decisions across the compute supply chain.

Our indices and data power decisions for hedge funds and financial institutions trading compute exposure, AI companies managing infrastructure cost, and data centers optimizing asset utilization. We are backed by leading global trading firms including DRW and Jump Trading, Valor Atreides AI Fund (VAAI), and we recently partnered with CME Group to launch the first-ever compute futures market built on Silicon Data's indices.

About the Derivatives Franchise

Listed futures are the visible part of the compute derivatives market. The larger part — the part that gets built first in every new commodity — is bilateral: OTC block trades, swaps, forwards, and structured hedges written by dealers, neoclouds, hyperscalers, and the funds that want exposure without owning hardware.

Those trades need a settlement price everyone can defend. That is what Silicon Data's indices provide, and we are now licensing them for trading and derivatives use to bring counterparties into the market. This role owns that franchise: the contract design that makes a compute swap settle cleanly, and the counterparty relationships that turn a licensed index into an executed trade.

The Role

We are looking for a Derivatives & OTC Markets to own our derivatives business end to end — both what we build and who we build it with.

On the product side, you will define the specifications that make our indices tradeable: settlement mechanics, averaging and fixing windows, roll conventions, tenor structure, contract sizing, disruption and fallback language, and the documentation architecture that lets a swap on a Silicon Data index sit comfortably inside an ISDA Master. You will decide what a compute swap should actually look like before the market decides for us.

On the commercial side, you will originate. You will take those products to dealer desks, commodity and macro funds, energy and infrastructure trading houses, neoclouds, and the corporate treasuries of AI-native companies who now carry compute cost as a material P&L exposure — and you will convert interest into index licenses, executed trades, and repeat flow. You will also work alongside our exchange partners and, over time, help make the listed and OTC sides of the market feed each other.

This is an early, high-ownership role reporting directly to the Founder/CEO. It is the first hire dedicated to derivatives. You should be comfortable with ambiguity, credible in a room full of traders and structurers, and interested in building a market rather than trading one.

A note on independence.

Silicon Data is a benchmark administrator. This is not a proprietary trading seat and carries no P&L book. Our value to the market rests on the integrity and independence of our indices, and the role operates inside the governance and conflicts framework that protects it — including our Benchmark Oversight Committee and our IOSCO-aligned control environment. Candidates who want to run risk should not apply; candidates who want to design the instrument in a new market and bring the counterparties to the table should.

What You'll Own

• Contract and product design. Define the tradeable expression of our indices — settlement methodology, fixing and averaging conventions, tenors, roll and expiry mechanics, price sources, and market disruption fallbacks — in specifications a dealer's legal and risk functions can approve without redlining the concept.
• The documentation stack. Build the confirmation templates, definitional annexes, and index-licensing terms that sit under bilateral trades, working with outside counsel on ISDA architecture and with our own counsel on license scope, term, and liability.
• Origination across the counterparty map. Bank and non-bank dealers, commodity and macro funds, energy and infrastructure traders, market makers, inter-dealer brokers, neoclouds, data-center operators, and corporate hedgers. Own the pipeline from first conversation to signed license to executed trade.
• The index licensing program for trading use. Run the commercial motion around licensing our indices for derivatives and structured-product use, including scope, term, renewal, and the onboarding path for a new trading counterparty.
• Liquidity development. Identify who the natural longs and shorts are in compute, find the two-sided flow, and cultivate the market-maker and broker relationships that turn scattered interest into a functioning market.
• Exchange and clearing partnerships. Work with CME Group and other venue and clearing partners on listed products, block trade thresholds, EFRP and give-up mechanics, and the on-ramp from bilateral trades to cleared exposure.
• Market intelligence back into product. Bring what counterparties actually need — tenors, granularity, regional and SKU-level cuts, forward curves, new underlyings — to our data science, product, and methodology teams, and shape the index roadmap accordingly.
• External voice. Represent Silicon Data credibly with trading desks, at industry conferences, and in written market commentary and methodology explainers that build confidence in compute as an asset class.

What We're Looking For

Required

• 7+ years in derivatives — structuring, product development, sales, origination, or index/benchmark commercialization — at a dealer, exchange, index provider, IDB, trading firm, or commodity trading house.
• Direct, hands-on experience with OTC products: block trades, swaps, forwards, and the negotiation and documentation that surrounds them. You have been in the room when terms were set, not just adjacent to it.
• Working fluency with ISDA architecture — Master Agreements, Schedules, CSAs, definitional booklets, and confirmations — and a practical sense of what a counterparty's credit, legal, and risk functions will and will not accept.
• Genuine understanding of settlement mechanics for index-referenced products: how a fixing is constructed, why averaging windows matter, what happens when a price source fails, and how manipulation risk is designed out of a contract.
• A demonstrated origination record. You have built a counterparty book from a standing start and can point to trades and relationships you sourced yourself.
• Comfort in a small, fast-moving, early-stage environment with high autonomy and little existing scaffolding.
• Excellent written communication. You can write a term sheet, a methodology note, and a follow-up to a skeptical head of trading with equal clarity.

Nice to Have

• Experience launching a new commodity or contract from scratch — a first-of-its-kind product where the liquidity, the conventions, and the counterparty education all had to be built at once.
• Background in a nascent or non-standard underlying: freight, power, weather, carbon, bandwidth, crypto, or another market that had to earn its settlement credibility.
• Familiarity with benchmark administration and regulation — IOSCO Principles for Financial Benchmarks, EU BMR, UK BMR — and how administrator independence shapes a commercial conversation.
• Knowledge of GPUs, AI infrastructure, and the compute ecosystem (clouds, neoclouds, data centers, hardware), or a demonstrated ability to get up the curve quickly on a technical underlying.
• Quantitative training, or comparable comfort with pricing, curve construction, and methodology detail — enough to hold your own with a quant on the other side of the table.
• An existing network across dealer desks, commodity trading houses, IDBs, exchanges, or the buy side.
• Experience with cleared and uncleared margin regimes, EFRPs, and block trade rules.

What You Can Expect From Us

• Competitive salary and meaningful equity.
• Ownership of the derivatives franchise for a new asset class — you are defining the contract conventions for compute, not maintaining someone else's.
• Proof the market is real: CME Group, Bloomberg distribution, and backing from DRW and Jump Trading. You are not selling a thesis, you are scaling one that has already landed.
• A small, senior team where your work has direct, visible impact and your opinions carry real weight.
• Flexible, remote-friendly work environment with a culture that values output over presence.
• A founder-led culture built on merit — your growth here is limited only by the quality of your work.

Silicon Data is proud to be an equal opportunity employer. We are committed to building a team that reflects a diversity of backgrounds, perspectives, and experiences. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, disability, age, or veteran status.