Senior Execution Trader

Total compensation $1M+ for the right candidate

Company Overview

Parabolic Surf is a privately capitalized, directional proprietary trading firm operating in cryptocurrency and traditional global markets. As a senior execution trader on our team, you will have the opportunity to make a significant impact on our growing firm.

Experience Required

5+ years in trading at a proprietary trading firm or hedge fund in a senior role with trade execution responsibilities.

The Role

This is a senior decision-support seat next to the founder/PM. Your job is to fully support the PM across the entire trade lifecycle, ensuring he always has and understands all relevant information and courses of action required to execute on his trading strategy.

You are responsible for the state of the book at all times: positions, margin, liquidation distance, collateral, etc. When a decision is needed, you propose courses of action with the tradeoffs clearly identified. A successful candidate is someone who learns their PM’s style fast and understands effective communication: what he needs to see, what he considers noise, and what he expects to have been handled before he asks.

Key Responsibilities

Market Monitoring and Execution

• Parameterize, test, and continuously tune execution software.
• Improve trading algos; optimize position and risk management protocols for the PM.
• Monitor liquidation risks and overall capital efficiency.
• Manage execution of directional positions, including neutralizing liquidation threats and handling residual exposure after large trades.

Risk and Position Management

• Enforce risk limits, configure stops, and manage order size and position limits.
• Improve processes and automations around entries/exits, capital inefficiencies, and redundant positioning in measurably superior ways from a PnL and portfolio flexibility perspective.
• Manage subaccounts and margin to distribute risk effectively.

PM Decision Support

• Own information flow to the PM: accurate, timely, complete. Daily reporting, real-time escalation, and order preparedness ahead of anticipated decisions.
• Propose courses of action on every decision the book raises, major or minor.

Software and R&D

• Work closely with the software development team to prioritize features. Write clear requirements for new projects. QA releases.
• Investigate new venues and software platforms to improve our execution and liquidity surface.

Operational Efficiency

• Design and enhance robust protocols and procedures to prevent slips on execution, collateral, risk, liquidations, funding, fees, etc.
• Monitor exchange communications, maintenance windows, listings, promotions, and fee changes that affect the book.
• Work with the operations team to reduce fees through various strategies and incentives.

Bonus Qualifications

• Familiarity with traditional finance market structure (exchange rules, clearing firms, margining, etc.)

Prerequisites

• Track record of supporting and improving execution for a trading team/desk
• Ability to write basic code to improve trading operations
• Exceptionally organized
• Intellectual curiosity and a strong interest in crypto
• Relocation to Puerto Rico (assistance provided)
• Opportunity for PnL participation
• Daily gourmet lunches prepared by our private chef (with Michelin star experience and quality)
• Health insurance and additional company perks