Inter-Dealer Broker (IDB) Trader

Job Summary

• The IDB Trader will be a founding member of the firm's proprietary trading desk — a rare opportunity to build a market-making and prop trading franchise from inception within a well-capitalised, senior-led institution.

Key Responsibilities
Proprietary Trading & Execution:

• Execute inter-dealer trades across FGN bonds, FGN bond futures (BF02, BF10), NAFEX/FMDQ FX futures, and fixed income derivatives on FMDQ Exchange
• Manage live positions across multiple prop books including FX Basis, Bond Futures Arbitrage, Yield Curve Steepener, and FX Carry strategies
• Identify and exploit mispricings between OTC cash markets and exchange-traded derivative contracts
• Monitor real-time FMDQ Q-Nuggets data, NDF rates, settlement prices, and average daily turnover to inform position management.

Market Making & IDB Facilitation:

• Provide anonymous price discovery and order matching services to bank and institutional counterparties in the inter-dealer market
• Build and maintain voice and electronic brokerage relationships with dealing desks at commercial banks, primary dealers, and asset managers
• Facilitate client flow across FGN bond secondary market, FX spot, and futures instruments.

Risk Management:

• Operate within approved trading limits, position limits, and stop-loss thresholds as defined in the firm's Risk Framework
• Monitor DV01, duration, basis risk, and counterparty exposure in real time
• Escalate limit breaches and exceptional market conditions to the CEO immediately
• Maintain full audit trail and trade reconciliation for all executed transactions.

Strategy & Reporting:

• Contribute to weekly and monthly prop desk P&L reporting, attribution analysis, and position commentary
• Work with the CEO and advisory team to identify new alpha opportunities as market conditions evolve
• Support the build-out of IDB trading infrastructure including Bloomberg/Reuters terminal setup, FMDQ connectivity, and back-office reconciliation.

Qualifications and Experience
Essential:

• Minimum 5 years' trading experience at a Nigerian commercial bank, primary dealer, stockbroking firm, or financial institution — with direct exposure to FGN bond secondary market or FX trading
• Demonstrable experience trading or pricing FGN bonds, Treasury Bills, and/or NAFEX/FMDQ FX products
• Strong understanding of FMDQ Exchange market structure, trading conventions, and settlement mechanics
• Familiarity with FGN bond futures (BF02/BF10) and FMDQ FX Futures pricing and basis dynamics
• SEC registration as Dealing Clerk, or eligibility to be sponsored.

Preferred:

• CFA charterholder or CIBN/ICAN membership
• Experience at a CBN-licensed primary dealer (PD) bank — particularly in the fixed income or FX dealing room
• Hands-on experience with Bloomberg Terminal, Reuters Eikon, or FMDQ trading platforms
• Prior exposure to yield curve analysis, bond futures basis trading, or NDF/FX basis strategies
• Understanding of CBN monetary policy transmission, OMO operations, and their impact on fixed income pricing.

Competencies and Attributes:

• Decisive under pressure — able to execute and size positions quickly in fast-moving markets
• Numerically rigorous — comfortable with DV01, carry calculations, NPV, and basis pricing
• High integrity — the IDB function requires strict adherence to confidentiality and market conduct standards
• Self-directed — able to manage a live book independently within defined risk parameters
• Collaborative — able to work closely with a small, senior team in a flat organisational structure
• Ambitious — motivated by performance-linked compensation and the opportunity to build a franchise from inception.

Application Closing Date
31st August, 2026.

How To Apply
Interested and qualified candidates should send CVs to:  View email address on hotnigerianjobs.com using the job title as the subject of the email

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