Equity Derivatives Dealer

Job Title: Senior Cash Futures Arbitrage Dealer

Department: Institutional Equity Derivatives (DII Desk)

Location: Lower Parel, Mumbai

About Client

Our clients are among India’s top institutional brokers, known for their extensive research, corporate access, and high-caliber execution. Our Institutional Equity Derivatives team serves the nation's largest Domestic Institutional Investors (DIIs), insurance funds, and mutual funds, offering superior execution, advanced algorithmic routing, and structured risk strategies.

Position Summary

We seek a disciplined, sharp, and execution-oriented Cash Futures Arbitrage Dealer to join our client's DII Derivatives team in Lower Parel, Mumbai. The role involves managing, executing, and optimizing large-scale cash-futures, index arbitrage, and corporate action-driven arbitrage strategies for our top-tier institutional clients.

This high-stakes role requires quick decision-making, a spotless, error-free trading record, and deep knowledge of the Indian market microstructure.

Key Responsibilities

• Institutional Execution : Execute multi-crore cash-futures arbitrage strategies (roll-overs, spread trades, mispricing capture) flawlessly for domestic institutional clients, reducing impact costs and slippage.
• Algorithmic Mastery : Operate and optimize automated trading systems, basket execution tools, and custom arbitrage algorithms to capitalize on real-time yield differences between cash and derivatives markets on NSE/BSE.
• Corporate Actions & Events : Identify, model, and execute trading strategies around corporate events like stock demergers, dividend arbitrage, index rebalancing (MSCI, FTSE, Nifty), and rights issues.
• Risk & Position Management : Monitor intraday MTM, margins, funding costs, and clearing limits meticulously. Ensure full compliance with institutional risk limits and exchange rules.
• Client Face-off & Flow Generation : Serve as a reliable execution partner to DII fund managers and derivatives traders, offering real-time market insights, spread indicators, and cost-of-carry analyses.

Required Candidate Profile

• Experience : At least 3 years of cash futures arbitrage experience handling large institutional flows at a top-tier broker or domestic institutional desk in India.
• Market Knowledge : Deep understanding of Indian equity derivatives, including implied volatility, cost of carry, dividend curves, SLBM mechanisms, and exchange clearing.
• Technical Skills : Hands-on experience with institutional trading platforms (e.g., Omnesys NEST, Bloomberg, uTrade, Greek, or proprietary low-latency DMA/algorithmic systems). Skilled in managing complex spreadsheets or using Python for data analysis and spread calculations.
• Certifications : NISM Series VIII (Equity Derivatives) certification is mandatory. A CFA or a reputable mathematical/ engineering degree is a plus.
• Attributes : Strong numerical skills, intense focus during trading hours, and resilience to maintain zero-error execution in fast-paced markets.

What We Offer

• Direct involvement in shaping market flow at a leading institutional firm.
• A collaborative, performance-oriented environment led by industry veterans.
• Highly competitive pay structure with performance-based incentives.