Location: Lagos Island, Lagos
Employment Type: Full-time
Work mode: Onsite
Liscence Requirement: SEC-registered Dealing Clerk or eligibility to be sponsored.
Description
- The IDB Trader will be responsible for executing and managing proprietary trading positions across the firm's inter-dealer broker books, with a focus on FGN bond futures arbitrage, FX basis trading, yield curve positioning, and FX carry strategies.
- The role requires deep familiarity with the FMDQ Exchange ecosystem, Nigerian fixed income market microstructure, and derivative instrument pricing.
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.
- 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.
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.
Strategy & Reporting:
- Support the build-out of IDB trading infrastructure including Bloomberg/Reuters terminal setup, FMDQ connectivity, and back-office reconciliation.
Qualifications & Experience
Essential:
- Bachelor's Degree in Finance, Economics, Accounting, or a quantitative discipline.
- Minimum 5 years of 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.
- 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.
Application Closing Date
31st August, 2026.
Interested and qualified candidates should send CV to: cynthiaasogwa@dicaloo.com using the Job Title as the subject of the email.