Senior Trade Surveillance Associate

Phaxis; New York (NY); On-site; USD 70,000 - 100,000; Full time

Job summary

Phaxis is seeking a detail-oriented Surveillance Associate to conduct daily trade surveillance reviews for an active trading client base. The role focuses on identifying potential market manipulation using Nasdaq Trade Surveillance (NTS), primarily covering equities and listed options.

The successful candidate will review order activity, analyze for manipulation, and document findings while collaborating with the Trade Surveillance Committee.

Qualifications

• 3+ years of hands-on Nasdaq Trade Surveillance (NTS) experience in broker-dealer or exchange environment.
• Proven experience investigating market manipulation alerts (spoofing, layering, momentum ignition).

Responsibilities

• Review order lifecycle activity (entry, modifications, cancellations, executions).
• Analyze trading activity for potential manipulation (spoofing, layering, momentum ignition, wash trading, etc.).
• Conduct cross-product surveillance across equities and listed options.
• Review and disposition NTS alerts through reconstruction, order book analysis, and market context.
• Document investigations and findings in case management systems.
• Escalate potential violations with supporting analysis and assist with case summaries for committee meetings.
• Provide feedback on alert performance, false positives, and emerging trading patterns.
• Identify surveillance gaps and emerging risks related to new products, order types, and customer behavior.

Skills

NTS experience

Market manipulation alerts

Trade surveillance

Tools

Nasdaq Trade Surveillance (NTS)

Job description

Our client is seeking a detail-oriented Surveillance Associate to conduct daily trade surveillance reviews for an active trading client base. The role focuses on identifying and investigating potential market manipulation and abusive trading activity using Nasdaq Trade Surveillance (NTS), with primary coverage of equities and listed options.

Responsibilities

• Review order lifecycle activity, including order entry, modifications, cancellations, and executions.
• Analyze trading activity for potential manipulation, including spoofing, layering, momentum ignition, wash trading, marking the open/close, and pre-arranged trading.
• Conduct cross-product surveillance across equities and listed options.
• Review and disposition NTS alerts through trade reconstruction, order book analysis, and market context.
• Document investigations and findings clearly in case management systems.
• Escalate potential violations with supporting analysis and assist with case summaries for Trade Surveillance Committee meetings.
• Provide feedback on alert performance, false positives, and emerging trading patterns.
• Identify surveillance gaps and emerging risks related to new products, order types, and customer behavior.

Qualifications

• 3+ years of hands-on NTS experience within a broker-dealer or exchange environment.
• Proven experience investigating market manipulation alerts, including spoofing, layering, momentum ignition, and coordinated trading.