OTC Trader, Trading Solutions
Anchorage Digital
United States
Posted on Dec 12, 2024
At Anchorage Digital, we are building the world’s most advanced digital asset platform for institutions to participate in crypto.
Anchorage Digital is a crypto platform that enables institutions to participate in digital assets through custody, staking, trading, governance, settlement, and the industry's leading security infrastructure. Home to Anchorage Digital Bank N.A., the only federally chartered crypto bank in the U.S., Anchorage Digital also serves institutions through Anchorage Digital Singapore, Porto by Anchorage Digital, and other offerings.
The company is funded by leading institutions including Andreessen Horowitz, GIC, Goldman Sachs, KKR, and Visa, with its Series D valuation over $3 billion. Founded in 2017 in San Francisco, California, Anchorage Digital has offices in New York, New York; Porto, Portugal; Singapore; and Sioux Falls, South Dakota. Learn more at anchorage.com, on X @Anchorage, and on LinkedIn.
As a Trader on the Trading Solutions team, you have the unique opportunity to contribute to the growth of the trading business at Anchorage Digital. You will be responsible for facilitating the hedging needs of client flows, ensuring that we provide clients with best in class service, while also managing our risk exposures well within the constraints of the company risk appetite. Being fully successful in this role requires responsiveness and attention to detail during all client and market interactions, while also improving the trading offering through tooling and technical investments.
We have created the Factors of Growth & Impact to help Villagers better measure impact and articulate coaching, feedback, and the rich and rewarding learning that happens while exploring, developing, and mastering the capabilities and contributions within and outside of the Member of Trading Solutions role:
Technical Skills:
- Ability to expertly handle complex trades with a mindset of continuous optimization. Every basis point of execution is significant and should be measured and understood, with the goal of increasing the trading desk’s revenue while abiding by risk management guardrails.
- Deep crypto market microstructure mathematical expertise, including cross-market basis opportunities, awareness/avoidance of predatory algorithms, derivatives hedging, beta hedging, and having a good understanding of away positioning and market drivers etc.
- Demonstrates expert knowledge of both electronic and voice trading, influencing technology improvements inspired by the more mature Traditional Finance market structure.
- Strong client-facing abilities, instilling confidence through excellent white glove service; influencing clients to increase Anchorage’s share of wallet.
- Proficient Python coding ability, comfortable progressing existing code and creating new code to advance trading projects.
Complexity and Impact of Work:
- Stand up the initial principal trading exposure management infrastructure and processes. This includes optimizing the trading desk’s quantitative pricing models, with expected return calculated using factors such as: volatility assumptions, market impact, hedging method, client tiering, and error handling. Longer-term, guide quants and engineers in the migration of this logic into a lower-latency streaming product from which clients can electronically execute.
- Lead efforts to increasingly automate hedge execution, so that traders can focus on only the most complicated trades, project work, or client engagement.
- Assist the risk management team in designing controls to govern the principal trading desk’s aggregate market exposure, including data buildout and guardrail establishment. This effort will be supported by the risk management team, quantitative analysts, and engineers. A successful program will net correlated risks to keep our pricing competitive, while alerting action to avoid breaching risk thresholds.
- Closely follow market narratives to contribute perspectives to internal research efforts, which may be used to increase engagement with trading clients. Coin coverage will span major coins (relevant to large audiences) to particular altcoins held by high-value clients.
- Help to inform new products and capabilities within the trading business to meet our clients’ overall needs, increasing the trading desk’s share of wallet. This may include derivatives.
- While on coverage, be available to immediately respond to changing exposures, client questions and requests. This includes rotations on weekends and off-hour paging.
Organizational Knowledge:
- Is keenly aware of how brokerage fits within the firm’s broader strategy, both as a tool and a standalone business, to provide input to the technology roadmap and implementation.
- Understands upstream and downstream implications of process changes, proactively voicing ideas and concerns as the business scales.
- Ensures that knowledge is shared amongst stakeholder teams and does not position themselves or others as a single point of failure.
Communication and Influence:
- Stay up to date with the underlying themes driving market prices and liquidity to deepen client interactions and execution strategies.
- Champion the perspective of the Trading Solutions team during cross-department conversations.
- Act as a mentor for junior members of the team.
You may be a fit for this role if you have:
- 3+ years experience as an OTC trader in the cryptocurrency space.
- Demonstrated ability to convert institutional prospects into trading clients.
Although not a requirement, bonus points if:
- You’re proud of your crypto Twitter feed and ability to uncover narratives driving crypto markets and specific coins.
- You enjoy using memes as a method of communication.
- You were emotionally moved by the soundtrack to Hamilton, which chronicles the founding of a new financial system. :)
About Anchorage Digital: Who we are
The Anchorage Village, what we call our team, brings together the brightest minds from platform security, financial services, and distributed ledger technology to provide the building blocks that empower institutions to safely participate in the evolving digital asset ecosystem. As a diverse team of more than 300 members, we are united in one common goal: building the future of finance by providing the foundation upon which value moves safely in the new global economy.
Anchorage Digital is committed to being a welcoming and inclusive workplace for everyone, and we are intentional about making sure people feel respected, supported, and connected at work—regardless of who you are or where you come from. We value and celebrate our differences and we believe being open about who we are allows us to do the best work of our lives.
Anchorage Digital is an Equal Opportunity Employer. We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, citizenship, marital status, disability, gender identity or veteran status. Anchorage Digital considers qualified applicants regardless of criminal histories, consistent with other legal requirements. “Anchorage Digital” refers to services that are offered either through Anchorage Digital Bank National Association, an OCC-chartered national trust bank, or Anchorage Lending CA, LLC a finance lender licensed by the California Department of Financial Protection and Innovation, License No. 60DBO-11976, or Anchorage Digital Singapore Pte Ltd, a Singapore private limited company, all wholly-owned subsidiaries of Anchor Labs, Inc., a Delaware corporation.
Protecting your privacy rights is important to Anchorage Digital, and we work to maintain the trust and confidence of our clients when handling personal or financial information. Please see our privacy policy notices here.