Derivatives Trader, Senior Manager

7 days ago

Singapore ABAQA INTERNATIONAL PTE. LTD. Full time
Purpose of the Role
Protect margins and stabilize P&L by designing and executing derivatives (paper) strategies that hedge physical exposures. Starting with vanilla swaps (e.g., SGX M42), the role ensures disciplined risk management, effective coverage of the coal book, and strict adherence to risk limits. The role requires creativity in structuring hedges, close collaboration with the Risk Manager for approvals and governance, and a gradual build-out of Abaqa's derivatives trading capability into more complex products.
Key Responsibilities
Hedging & Risk Management
  • Translate physical exposures into hedge strategies (coverage ratios, tenor ladder, rolls).
  • Execute trades on approved venues (e.g., SGX M42); manage mark-to-market, margins, and settlements.
  • Monitor basis risks (quality differentials, freight routes vs. index benchmarks).
  • Report hedge effectiveness, slippage, and recommend adjustments.
  • Seek approval/clearance from the Risk Manager before executing trades; escalate breaches immediately.
  • Adhere to exposure limits and no-proprietary trading mandate; focus solely on protecting physical sales and margins.
  • Partner with Risk on VaR, MtM reporting, stress testing, and backtesting of hedge strategies

Market Development & Capability Building
  • Develop and expand Abaqa's presence in commodity derivatives markets.
  • Leverage contacts with banks, brokers, and trading companies to build counterparty network.
  • Provide hedge recommendations for physical positions aligned with company policy.
  • Build capability beyond vanilla swaps into more complex instruments (spreads, options, structured hedges).
  • Explore creative solutions for managing basis risk and enhancing hedge effectiveness

Collaboration & Compliance
  • Work closely with Physical Traders to align hedges with confirmed exposures.
  • Collaborate with Finance, Legal, and Risk teams to ensure compliance with contracts, limits, and clearing standards.
  • Ensure all OTC processes are followed, including KYC, onboarding of counterparties, and ISDA documentation.
  • Support internal capacity building by documenting strategies and mentoring junior analysts.

Requirements:
  • Bachelor's degree in Finance, Business, Engineering, or related field; MBA or advanced degree is a plus.
  • CFA/FRM or similar certification preferred.
  • Minimum 5+ years of commodity derivatives trading (coal/energy preferred).
  • Proven track record in executing swaps and managing exposure, margins, and P&L stabilization.
  • Strong understanding of OTC vs exchange contracts, ISDA, margin mechanics, and clearing processes.
  • Familiarity with ETRM systems, VaR tools, and trade lifecycle management.
  • Excellent analytical, quantitative, and structured-thinking skills.
  • High integrity with strict adherence to trading controls and compliance standards.

Why Join Us?
  • Opportunity to build and shape Abaqa's derivatives trading platform from the ground up.
  • Direct impact on risk management, profitability, and long-term trading strategy.
  • Exposure to both physical and financial trading, with career growth across commodities.

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