FX Options Correlations/Hybrids Trader
Role Overview
Our Client, a leading global investment bank is seeking a Vice President to join its FX Options Trading desk in London, with a focus on correlations, exotics, and cross-asset hybrids across Emerging Markets. This is a high-impact front-office role within a well-established platform, offering direct exposure to institutional clients and complex structured risk. The successful candidate will play a key role in managing and expanding the desk's footprint across EM FX exotic derivatives, with a particular emphasis on correlation products and hybrid structures (FX/Equity, FX/Rates). The role combines risk-taking, structuring insight, and close collaboration with sales and structuring teams.
Key Responsibilities
Market Making & Risk Management:
Manage and price EM FX exotic options, including correlation-linked and hybrid products across a broad range of emerging market currencies. Actively manage associated risk, including vega, vol-of-vol, correlation, and cross-gamma exposures.Product Expertise:
Trade and develop complex EM-focused structures such as baskets, worst-of, best-of, TARFs, and cross-asset hybrid derivatives.Client Engagement:
Partner with institutional sales to deliver tailored EM solutions to hedge funds, asset managers, corporates, and private banks. Contribute to idea generation and bespoke trade structuring.Pricing & Model Interaction:
Work closely with quantitative teams on model enhancements for correlation and hybrid pricing. Maintain strong understanding of Monte Carlo frameworks and local/stochastic volatility models.P&L Ownership:
Take ownership of a defined EM risk book, contributing to revenue generation while maintaining disciplined risk controls.Market Intelligence:
Monitor macro developments, EM volatility surfaces, and cross-asset dynamics to inform trading strategies and pricing.
Requirements
- Strong experience in FX Options Trading, ideally with exposure to EM exotics, correlations, or hybrids
- Solid understanding of volatility modelling, correlation dynamics, and structured derivatives
- Demonstrated track record of risk management and P&L generation
- Strong quantitative intuition; ability to interact effectively with quantitative teams
- Commercial mindset with proven ability to support client flow and generate ideas
- Excellent communication skills and ability to operate in a fast-paced trading environment
Preferred Background
- Experience trading emerging market FX derivatives
- Familiarity with equity/FX hybrid products or structured rates/FX solutions
- Background in a top-tier investment bank or leading financial institution
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