Trader

The Phoenix Group®; United States; On-site; USD 180,000 - 260,000; Full time

Job summary

The Phoenix Group® seeks a Systematic ETF Trader to own and enhance a high-performance trading system focused on ETF market making, arbitrage, and cross-asset hedging, with scope to develop strategies across equity ETFs, futures, and fixed income instruments. This role drives daily P&L and requires refining trading algorithms and collaborating on infrastructure improvements.

You will work with engineering to implement low-latency enhancements, backtest new signals, and bring production workflows

Qualifications

• 3-7+ years hands-on experience in systematic market making or ETF arbitrage trading.
• Deep understanding of ETF creation/redemption, AP workflows, NAV calculations.
• Experience optimizing trading algorithms, spread models, inventory strategies, risk management.
• Strong Python programming for strategy development, analysis, backtesting; C++ preferred.
• Series 7 and Series 57 licenses required or obtainable promptly.
• Knowledge of market microstructure, latency, and maker-taker economics.
• Familiarity with primary/secondary market liquidity, exchange rules, fees.

Responsibilities

• Actively trade equity ETFs, futures, and related derivatives within a systematic framework.
• Design, own, optimize market making, arbitrage, and hedging strategies.
• Develop automated trading models, signals, and risk algorithms to production.
• Manage ETF creation/redemption processes, pricing and risk models.
• Analyze NAV dislocations and ETF/NAV basis relations to inform trading decisions.
• Collaborate with ETF issuers and authorized participants.
• Improve trade execution quality with latency management and venue rules.
• Work with engineers to enhance low-latency infrastructure and risk controls.
• Model cross-asset relationships to expand platform capabilities.
• Implement real-time risk tools like position limits and P&L checks.
• Take ownership of existing systems including backtesting and production workflows.

Skills

Python

C++

ETF Market Making

Risk Management

Trading Systems

Series 7/57

Latency Optimization

Job description

Role Overview

The Systematic ETF Trader will own and enhance a fully operational, high-performance trading system focused on ETF market making, arbitrage, and cross-asset hedging, with scope to develop and scale trading strategies across equity ETFs, futures, and fixed income instruments. This role is impactful in driving daily P&L, refining trading algorithms, and collaborating on infrastructure improvements, with a clear pathway toward leadership within a growing platform.

Role Overview

The Systematic ETF Trader will own and enhance a fully operational, high-performance trading system focused on ETF market making, arbitrage, and cross-asset hedging, with scope to develop and scale trading strategies across equity ETFs, futures, and fixed income instruments. This role is impactful in driving daily P&L, refining trading algorithms, and collaborating on infrastructure improvements, with a clear pathway toward leadership within a growing platform.

Key Responsibilities

• Actively trade equity ETFs, futures, and related derivatives within a systematic market making framework, managing execution and risk on a daily basis
• Design, own, and optimize market making, arbitrage, and hedging strategies, including spread setting, order placement, inventory management, and intraday risk controls
• Develop and refine automated trading models, signal generation, and risk algorithms from research through to production implementation
• Manage ETF creation/redemption processes, incorporating primary and secondary market dynamics into pricing and risk models
• Analyze NAV dislocations, basket composition changes, and ETF/NAV basis relationships to inform trading decisions
• Collaborate with ETF issuers and authorized participants on operational and structural matters affecting trading strategies
• Improve trade execution quality by leveraging microstructure insights, latency management, and venue-specific rules
• Partner with engineering teams to enhance low-latency infrastructure, integrate new indicators and risk controls, and maintain high system performance
• Model cross-asset relationships including interest rates, sector exposures, and index mechanics to expand platform capabilities
• Implement real-time risk management tools such as position limits, P&L monitoring, and regulatory compliance checks
• Take full ownership of existing systematic trading systems, including integration of new signals, backtesting frameworks, and production workflows

Core Qualifications & Requirements

• 3-7+ years of hands-on experience in systematic market making or ETF arbitrage trading, with proven record of managing live strategies
• Deep understanding of ETF creation/redemption processes, authorized participant workflows, NAV calculations, and premium/discount dynamics
• Practical experience optimizing trading algorithms, spread models, inventory strategies, and risk management frameworks
• Strong programming skills in Python for strategy development, analysis, and backtesting; C++ experience preferred
• Series 7 and Series 57 licenses required or obtainable promptly
• Knowledge of equity and futures market microstructure, execution venues, latency considerations, and maker-taker economics
• Familiarity with primary/secondary market liquidity, exchange rules, and fee structures

Nice-to-Have Qualifications

• Background at a proprietary trading firm or market-making organization specializing in systematic strategies
• Experience with fixed income ETFs, interest rate products, and related derivatives such as Treasuries, SOFR futures, or swaps
• Proven end-to-end strategy development from research, testing, deployment, and live monitoring
• Engagement with market regulators, exchanges, or ETF issuers in operational or compliance matters
• Leadership experience in hiring, mentoring, or managing junior trading staff