Inter-Dealer Broker

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

  Requirements:

Minimum 5 years' trading experience at a Nigerian commercial bank, primary dealer, stockbroking firm, or financial institution, with direct exposure to the FGN bond secondary market or FX trading Bachelor's degree in Finance, Economics, Accounting, or a quantitative discipline 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 a Dealing Clerk, or eligibility to be sponsored

Preferred Requirements:

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 & 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

Compensation & Benefits:

Base Salary Competitive — commensurate with experience and market benchmarks Performance Bonus Discretionary profit-sharing linked to prop desk net alpha — structured to align with long-term desk performance SEC Sponsorship The firm will sponsor SEC Dealing Clerk registration where applicable Professional Development Support for CFA, CIBN, and relevant market certifications Career Trajectory Opportunity to grow into Head of Proprietary Trading as the IDB desk scales