CME Group is the world's leading and most diverse derivatives marketplace in six major asset classes. The Financial Research and New Product Development (Fin RPD) team focuses on listed and OTC interest rate derivatives, BrokerTec cash securities trading and repo, Equity Index listed derivatives, listed crypto derivative products on Bitcoin and Ethereum, development of advanced data and analytics such as CME Term SOFR and CME Volatility Indexes (CVOL), and content support for these offerings.
This is one of the most exciting times to join Fin RPD. The interest rates market is undergoing multigenerational changes as LIBOR will sunset by 2023. SOFR, LIBOR's stated successor, is in its ascendency. As the market transitions to SOFR, there are indexes in the short-term interest rate market to consider such as CME Term SOFR, BSBY and their associated futures, options, and OTC derivatives. In the cash market BrokerTec repo offering is a recognized market leader.
In the long-term interest rate markets massive fiscal thrusts by the U.S. government has ramped up both the issuance of Treasuries and made the Treasury futures complex more important than ever. In addition, evolving needs of CME Group's growing client base will likely see launches of new fixed income products.
In addition to the launch of new products, Fin RPD plays a significant role in the generation of relevant and impactful content. Across Fin RPD, the team produces multiple publications a month to highlight industry trends and changes, product development, important increases in trading activity, and valuable insights to help clients manage their investments and risk exposures. The production of content continues to grow in important ways such as deep data insight and analysis, powerful visualizations, and video content all while highlighting valuable connections between CME product construction and market activity. Analyst -Research & Product Development
CME Group seeks an Analyst within its Research and New Product team responsible for all Interest Rate, Equity, and Crypto products during this amazing time of financial innovation and transition. The world is fast moving away from LIBOR based to SOFR based pricing, marking an emerging paradigm for interest rates. Monetary policy transition is bringing rapid developments in US Treasury Trading and repo of which CME Group's BrokerTec, the leader in UST trading and repo, will play a critical role by assisting clients in managing their investment and trading needs. Equities products continue to grow in a new and exciting manner, including total return and option products. Finally, our crypto products continue to grow rapidly to meet the industry's growing needs.
This role supports the Research & Product Development Department (RPD) and is responsible for understanding the short and long-term needs of clients, executing market product development and product maintenance, creating content pieces, and displaying leadership in regard to current and long-term CME Group business strategy. As such, individuals within RPD have significant product, market, and industry expertise. In addition to creating new investment products and services, RPD team members are often authoring technical papers, presenting concepts, applying for patents, and leading the market into this decade and beyond.
Within the Financials Research and New Product Development team, there is a need to hire a new Analyst to help manage the rapid growth in interest rate products including SOFR and Treasury among other products, integrate our cash trading business BrokerTec with our listed Interest Rates business, develop our evolving data and analytics offerings, and continue our content generation. To accomplish these tasks, this Analyst will be diverse in their skillsets, with the ability to learn skills quickly and effectively.
The analyst will have a combination of strong quantitative, analytical, and written skills. The Fin RPD team is a close knit, diverse, and dynamic unit, and is geographically spread between Chicago, New York and London. There is significant teamwork and support, project management expertise, and demand of one another to work to the highest standards possible. Principal Accountabilities:
Specific responsibilities the Analyst will be expected to perform include:
Skills & Requirements:
- Being the critical first point of contact between the team and market activity. This includes understanding our daily product moves and pricing, treasury auction schedules, treasury futures basket calculations, and monthly and quarterly settlement updates. Knowledge of these facets will allow for escalation of non-typical market movements if necessary. This will naturally build relationships with the business line, clearing, and clients facing CME Group businesses.
- Executing primary product analysis for existing or new product developments, allowing for the smooth listing of new derivatives. Necessary skills include volume and open interest analysis, regulation knowledge, rulebook update abilities, index analysis, operational understanding, and knowledge on market risk structures.
- Working with members on the RPD team to manage the monthly research processes and automate items where possible. This includes interfacing work with our listing rates, BrokerTec, Clearing, and data partners.
- Supporting senior department members with ad hoc analytics and helping develop departmental messaging and presentations.
- Assisting the head of the Fin RPD team with research on specialized projects and strategies such as ESG projects, new products initiatives, and key research content themes.
- Being highly proficient with data acquisition, analysis, and visualization to streamline product analysis and content creation. This involves working with the Data team and the associated Index teams to understand the go forward model used to develop additional client facing data sets and manage its fit within the Google venture.
- Strengthening our quantitative analytical abilities through the creation of new prototype models and the revamping of older models. Collaboration is necessary with both business and clearing to operationalize those models that are selected for internal or client facing implementation.
- Identifying areas of inefficiencies and in turn innovating these processes to allow for maximum output by the Fin RPD team. This will be accomplished by bringing skills that are not currently present on the team and applying them where appropriate.
- Required: Windows Office Suite (Excel, Word, PowerPoint).
- Helpful: R, Python, Salesforce, Tableau.
- Located in Greater New York City area and able to come into the office three days a week.
- Required: Bachelor's Degree in finance, accounting, marketing, economics, data science, or quantitative finance
- 1-2 years relevant experience is typical
CME Group: Where Futures Are Made
CME Group (www.cmegroup.com) is the world's leading derivatives marketplace. But who we are goes deeper than that. Here, you can impact markets worldwide. Transform industries. And build a career shaping tomorrow. We invest in your success and you own it, all while working alongside a team of leading experts who inspire you in ways big and small. Joining our company gives you the opportunity to make a difference in global financial markets every day, whether you work on our industry-leading technology and risk management services, our benchmark products or in a corporate services area that helps us serve our customers better. With 3,500 employees located around the world, we're small enough for you and your contributions to be known. But big enough for your ideas to make an impact. The pace is dynamic, the work is unlike any other firm in the business, and the possibilities are endless. Problem solvers, difference makers, trailblazers. Those are our people. And we're looking for more.