Execution & Market Structure Lead

ICME is building a compliant trading market for pre-IPO equities, with ownership represented as a digitally native record that maps directly to issuer cap tables and approved transfer workflows. Our goal is to deliver institutional grade execution, transparent pricing, and sustainable economics in private securities. What you’ll do Own execution quality end-to-end: pricing, fills, slippage, spreads, liquidity, and “best outcome” metrics Build and monitor market health metrics: depth, volatility, toxicity/adverse selection, maker/taker behavior, and concentration risk Own the market’s unit economics: take rates, fees, rebates, liquidity incentives, inventory/risk costs, and cost-to-serve Design quoting / market making partnerships and liquidity programs (and potentially run internal liquidity where appropriate) Work closely with product + engineering on matching, pricing logic, controls, and measurement Partner with legal/compliance on private-securities constraints: transfer limits, eligibility, disclosures, approvals Coordinate with custody/transfer agent/cap-table workflows so trades settle cleanly and ownership stays correct Required skills Deep understanding of market microstructure: spreads, order books, auctions, RFQ, liquidity, and adverse selection Experience building or running markets in at least one of: Equities/options execution, market making, or HFT Exchanges / ATS / dark pools / RFQ venues Private markets / secondaries / structured products Strong grasp of private-securities realities: transfer restrictions, eligibility, accredited/qualified checks (as relevant) issuer approvals / ROFR processes (when they exist) cap table / transfer agent concepts (who updates what, when) Strong data + modeling skills (SQL + Python preferred; strong spreadsheets acceptable) Clear communicator who can explain fills, pricing, and risk in plain English Nice to have Experience with pre-IPO secondaries (employee liquidity, tender offers, brokered blocks) Familiarity with broker-dealer / ATS operations and surveillance expectations Settlement/custody workflows for private assets (even if not “DTCC-style”) Experience working on Wall Street Master's or PHD in Financial Engineering (Or self taught on a high level) Backgrounds that fit well Market maker / execution trader / quant (equities, options, or similar) Exchange / ATS / electronic trading product or market ops Capital markets fintech with real execution + revenue ownership Location Strong preference for in-person, San Francisco, CA, but open to remote for very strong candidates #J-18808-Ljbffr ICME