Location: Marina, Lagos
Employment Type: Full-time
Liscence Requirement: SEC-registered Dealing Clerk or eligibility to be sponsored
Job Summary
- 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.
Salary
N1,000,000 monthly.
Application Closing Date
17th August, 2026.
Interested and qualified candidates should send CV to: cynthiaasogwa@dicaloo.com using the Job Title as the subject of the email.