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OTC Trader - South Africa



Cape Town, South Africa
Posted on Tuesday, February 6, 2024

About us:

Luno is the crypto investment app you can rely on, enabling you to buy, store and explore crypto securely. We’re committed to putting the power of cryptocurrency in everyone's hands sensibly and responsibly.

Since 2013, we’ve helped millions of people around the world invest safely in crypto. We do this by cutting through the hype and supporting customers at every step of the way. All products and cryptocurrencies on our platform must first meet stringent legal, risk and technical security standards. We don’t do memecoins.

Transparency is key for us. Luno stores all crypto on a 1:1 basis and we have rigorous processes in place so you can be confident your investment is secure. We’re available in more than 40 countries around the world and we work closely with respective regulators in all of these markets to be fully compliant, as we believe this is the best way to help everyone, everywhere, invest safely.

The role in a nutshell:

You will begin your mission as part of our Treasury Team, reporting to the Head of Treasury Risk and Trading, as we build out a more formal trading and execution team. You’ll work closely with our Treasury team, in country teams and our customer facing relationship managers in order to assess, understand and execute OTC trades profitably. You will execute OTC trades, initially across the South African market, with an expectation of that being expanded to Malaysian, Nigerian and additional crypto markets. You will additionally execute and manage hedging trades for Luno.

Your mission will be:

  • OTC Trading Operations:
    • Acting as the main point of contact for VIP traders and institutional customers to execute large trades with them e.g. making and receiving OTC quotes to customers as well as sourcing counter-trades..
    • Ensuring that any anticipated OTC trades are pre-funded or have adequate credit available.
    • Maintaining relationships with VIP traders and institutional customers together with the Country teams and relationship managers.
    • Managing any OTC trade disputes.
    • Ensuring that OTC trades are settled.
  • Execution and Monitoring:
    • Execution of trades according to approved trading strategies.
    • Execution of OTC trades and counter-trades.
    • Execution of market counter-trades should matched counter-trades fall through.
    • Execution of trades to hedge Luno’s market risk on its working capital and Income/Revenue streams.
    • Execution of revenue liquidation trades.
    • Monitoring and managing the Profit and Loss of trading positions against P/L targets and risk limits.
  • Trading Strategy Development:
    • Give input into trading strategies for FX and Crypto assets, with a focus on risk management and maximising profitability. This would incorporate OTC, hedging and revenue liquidation trades and would additionally consider derivative and warehousing strategies.
  • Market Analysis:
    • Conduct in-depth analyses of digital asset markets to identify trends, opportunities, and potential risks.
    • Stay informed about market news, regulatory changes, and other factors affecting digital asset prices.
    • Present a daily analysis to the Treasury team.
    • Collaborate with the Treasury team to incorporate any insights into decisions made across Luno.
  • Reporting and Documentation:
    • Ensure that Luno maintains accurate records of trades, P/L, risk, and performance metrics.
    • Generate regular reports for stakeholders, summarising trading activities, performance, and market insights.
  • Luno capacity build
    • Create high-level specifications for improvements to Luno’s Trading and Risk Systems.
    • Give input into development of automated OTC solutions.
    • Evaluate and motivate for improvement of the risk frameworks and risk models in order to adapt to changing market dynamics.

A little about you:

  • 3-5 years of work experience within a sell-side OTC trading desk in crypto (preferred), FX, equities or derivatives.
  • Bachelor’s in Finance, Economics, Mathematics, Business Administration, Accounting or related discipline.
  • An advanced degree or professional qualification (CFA, CAIA, MBA) in a related field is beneficial.
  • A successful OTC trading track record across more than one market.
  • Ability to adapt to a fast-paced and dynamic trading environment.
  • Compliance with regulatory standards and a commitment to ethical trading practices.
  • Strong attention to detail and accuracy in trade execution and documentation.
  • Excellent interpersonal and communication skills, a strong team player.
  • Friendly, transparent, articulate and driven to succeed.
  • A passion for crypto.

Life at Luno:

  • Forward-thinking and ambitious team that values diversity, hard work, and the continuous quest for excellence.
  • Remote but reachable work policy gives you the freedom to choose between working from home or the office.
  • Improve body and mind, with excellent private medical insurance.
  • Access to Learnably and our additional learning platforms for your personal and professional development.
  • Generous maternity / paternity and even paw-ternity for your furry friend.
  • Annual Inspiration Day in addition to your annual leave which increases based on your length of service! Plus the option to buy and sell leave.
  • A collaborative, friendly work community, with regular social events and virtual cooking, dancing, drawing and house planting classes hosted by our Lunauts.
  • Free lunch and snacks.
  • 0 fees with Luno from the day you start.*

*Offer only available on Luno Instant Buy, not Luno Exchange

We are an equal opportunity employer and value diversity at our company. We do not negatively discriminate on the basis of race, religion, colour, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.