FX Options Correlations/Hybrids Trader

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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