East Cash Trader
Job Description: East/PJM Cash Trader
Position Overview
The East/PJM Cash Trader will be responsible for managing real-time and day‑ahead power market exposures across the Eastern U.S., with a focus on PJM and MISO. This role requires deep expertise in DA/RT/DART trading strategies, strong analytical capabilities, and an in‑depth understanding of nodal and zonal market topology. The ideal candidate will demonstrate sound commercial judgment, an ability to operate in fast‑moving markets, and a track record of optimizing portfolio performance.
Key Responsibilities
- Manage and optimize exposures in Day-Ahead (DA), Real-Time (RT), and DART (DA vs RT spread) markets, with a primary focus on PJM and MISO.
- Execute trading strategies that maximize portfolio profitability while managing risk within established limits.
- Monitor and interpret market fundamentals, including load forecasts, congestion patterns, outages, weather impacts, and transmission constraints across Eastern ISOs.
- Analyze zonal and nodal topology to identify trading opportunities and improve strategy performance.
- Collaborate with quantitative analysts, fundamental analysts, and fellow traders to refine models, evaluate positions, and enhance trading concepts.
- Maintain real-time awareness of system conditions, price signals, and unexpected events impacting market outcomes.
- Ensure adherence to compliance requirements, risk limits, and internal reporting standards.
- Contribute to post‑trade analysis, P&L review, and strategy improvement initiatives.
Qualifications
- 2-5+ years of power trading experience, with specific exposure to PJM, MISO, or other Eastern ISOs preferred.
- Strong understanding of DA/RT/DART market mechanics and congestion drivers.
- Demonstrated familiarity with the zonal and nodal topology within PJM and MISO, including basis relationships and constraint flows.
- Proven ability to interpret market data quickly and make informed commercial decisions in real time.
- Strong analytical and quantitative skills; proficiency in tools such as Python, R, or SQL a plus.
- Ability to thrive in high‑pressure, fast‑paced trading environments.
- Excellent communication skills and collaborative mindset.
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