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- Tasks: Manage trade inputs, reconciliations, and ensure compliance with LME rules daily.
- Company: Join a top provider of execution and clearing services in the commodities market.
- Benefits: Gain hands-on experience in a dynamic trading environment with growth opportunities.
- Why this job: Be part of a fast-paced team, enhancing your skills in operations and trading.
- Qualifications: LME Operations experience and proficiency in Excel required; problem-solving skills are a must.
- Other info: Work closely with traders and sales teams to resolve trade discrepancies.
The predicted salary is between 43200 - 72000 £ per year.
THE COMPANY:
Our client is a leading provider of execution and clearing services for exchange traded derivatives and OTC derivatives in the commodities markets.
THE RESPONSIBILITIES:
- Ensure trades are input into Trinity from TEO. This will include a mixture of manual input direct into the back office GUI and using a semi-automated process via the trade capture sheet
- Monitor LMESMART for any mismatches, unmatched and alleged trades. Liaise with the relevant sales person and trader until such outages have been resolved. Must ensure that priority is given to the MIFIR Inter-office 10 minute matching rules for non-admin trades
- Input Floor blotters into Trade capture sheet and ensure session codes or trade times adhere to the LME Rules
- Import Trades executed on FX platform including where necessary adding the necessary ISIN. This will include Bullion and FX transactions
- Import Customer FX and Bullion averaging trades as per the Trader’s request from their trading blotter.
- Check and Agree Bullion Confirmations from ISDA Counterpart
- Complete 4 eyes check on all trades input into Trinity to ensure completeness of booking
- Liaising with the Trading Desk to agree positions are correct at set times during the day
- Check Tom Positions by 11:00 each day and chase any outstanding positions with the relevant trade/sales person. Mercury must also be checked against Trinity to ensure both systems are in line.
- Reconciliation of LME Cash positions including postings into back office systems.
- Reconciliation of LME Initial and Variation Margins to those produce by back office system
- Perform Commodity Position Reporting reconciliation against LME Clear and ensure report is sent to the LME and is accepted with NIL rejections by 08:30
- Perform EMIR reconciliation for UK, once agreed import the files to UK and EU areas within Unavista and ensure all rows are accepted. Any rejections must be resolved
- Perform MIFIR Transaction Reporting function within the DB for both ETD and OTC using the guidance spreadsheet
- Daily reconciliation of Client options for Open Interest and performing the necessary close out in LMEMercury
- Send out the client Margin Calls on a daily basis by 08:30 ensuring we receive adequate responses from either the relevant sales person or the client as to how they will meet their call.
- Daily LME Fee reconciliation Trinity v LME Clear
- Daily IB reconciliation
- Daily Gross Commission income reporting to management
- Inputting and checking fixings used for average price calculations (Commodity prices and FX rates)
- Final pricing of averaging trades
- LME Warrants – Perform Lodges and Withdrawals, Deliveries to and from LME Clear in SWORD
- LME Warrants – Perform Allocation within Trinity and send out invoices to clients where relevant. Perform an end of say SWORD reconciliation
- Calculate the VM and IM impact for any client requesting for the Business to perform Transfers, Metal Swaps and Financing and send to Risk and Head of Operations for approval before being input into Trinity.
- Input Clearing switches upon customers request and ensure this reduces TOM / Cash position
- Input Give in Clearer trades when instructions have been received and ensure all outages are resolved
- Check to ensure all Trinity control account have zero Positions throughout the day and resolve any outages
- Respond to customer payment requests ensuring any payments do not place a customer on margin call.
- Send all payment requests including the original email to finance
- Treasury – Record all expected payments and receipts on the banking spreadsheet
- Treasury – Prepare the morning email for the liquidity call and participate in the call
- Give up Executor – Where the broker is unknown at the point of execution perform post allocation of trades as per the “CTA’s” instructions ensuring we have a valid g-up agreement for each clearing broker.
EXPERIENCE REQUIRED:
- Hands on experience in either LME Operations role with direct experience of trade processing, LME matching and position reconciliations.
- Hands on experience within a trading desk environment and working on the LME Trading floor
- Experience with Reconciliations.
- Familiar with common desktop applications such as: Microsoft Excel, Word & Outlook.
- Intermediate level creating and maintaining Excel spreadsheets
- LME Systems such as SMART, SELECT, SWORD & MERCURY
- Good ‘Problem Solving’ skills.
Senior Operations Analyst - LME experience required employer: Saxton Leigh
Contact Detail:
Saxton Leigh Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Senior Operations Analyst - LME experience required
✨Tip Number 1
Make sure to familiarize yourself with LME operations and the specific systems mentioned in the job description, such as SMART, SELECT, SWORD, and MERCURY. Having hands-on experience or knowledge of these systems will give you a significant advantage during the interview process.
✨Tip Number 2
Network with professionals currently working in LME operations or related fields. Engaging with them on platforms like LinkedIn can provide you with insights into the role and potentially lead to referrals, which can be incredibly beneficial for your application.
✨Tip Number 3
Brush up on your problem-solving skills, as they are crucial for this role. Consider preparing examples from your past experiences where you successfully resolved issues related to trade processing or reconciliations, as these will likely come up during discussions.
✨Tip Number 4
Stay updated on current trends and regulations in the commodities market, especially those affecting LME operations. Demonstrating your knowledge of industry changes during the interview can set you apart from other candidates.
We think you need these skills to ace Senior Operations Analyst - LME experience required
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in LME operations, trade processing, and reconciliations. Use specific examples that demonstrate your hands-on experience in a trading desk environment.
Craft a Strong Cover Letter: In your cover letter, emphasize your familiarity with LME systems like SMART, SELECT, SWORD, and MERCURY. Discuss your problem-solving skills and how they have helped you resolve issues in past roles.
Highlight Technical Skills: Clearly list your proficiency in Microsoft Excel, Word, and Outlook. Mention any intermediate-level skills in creating and maintaining spreadsheets, as these are crucial for the role.
Showcase Relevant Experience: Detail your previous roles related to LME operations, focusing on specific tasks such as trade matching, position reconciliations, and daily reporting. This will help demonstrate your suitability for the position.
How to prepare for a job interview at Saxton Leigh
✨Show Your LME Expertise
Make sure to highlight your hands-on experience with LME operations, especially in trade processing and position reconciliations. Be prepared to discuss specific examples of how you've successfully managed these tasks in previous roles.
✨Demonstrate Problem-Solving Skills
Since the role requires good problem-solving skills, think of instances where you've encountered challenges in a trading environment and how you resolved them. This will show your ability to handle pressure and find solutions effectively.
✨Familiarize Yourself with Relevant Systems
Brush up on your knowledge of LME systems like SMART, SELECT, SWORD, and MERCURY. Being able to discuss your experience with these systems will demonstrate your readiness for the role and your ability to hit the ground running.
✨Excel Proficiency is Key
Since the job requires intermediate Excel skills, be ready to talk about how you've used Excel in your previous positions. Mention any specific functions or features you are comfortable with, as this will showcase your technical abilities.
