Associate Director - Markets

You will be mining through these tasks:

Market Maker Business Development

• Identify, evaluate, and onboard institutional market makers for both derivatives and spot order books
• Develop, design and execute incentive/pricing strategies to attract high-quality liquidity providers to the platform
• Negotiate commercial terms, fee structures, and incentive programs with market makers
• Build and maintain a robust pipeline of potential market making partners

Performance Management & KPI Framework

• Define, implement, and monitor key performance indicators (KPIs) for external market makers including:
• Spread metrics and depth targets
• Uptime and quote consistency
• Fill rates and execution quality
• Volume commitments and market share
• Establish performance benchmarking frameworks and SLA compliance monitoring
• Conduct regular performance reviews and drive continuous improvement initiatives

Liquidity Cost Optimization

• Analyze and optimize the total cost of liquidity across all trading pairs
• Design competitive yet sustainable maker-taker fee structures
• Implement incentive programs that balance cost efficiency with market quality
• Identify opportunities to reduce rebates and trading costs while maintaining competitive spreads
• Monitor and report on liquidity ROI and cost per unit of depth

Order Book Expansion

• Lead the strategy for migrating and routing additional trading pairs to the proprietary order book
• Prioritize pairs based on volume potential, strategic importance, and liquidity availability
• Coordinate with product and engineering teams for seamless order book launches
• Develop go-to-market strategies for new pair listings with adequate MM support

Relationship Management

• Serve as the primary point of contact for market making partners
• Build and nurture long-term strategic relationships with key liquidity providers
• Organize regular business reviews and feedback sessions with MM partners
• Address operational issues and facilitate resolution of technical or commercial concerns
• Represent the company at industry events and market maker conferences

Risk Management

• Monitor and manage counterparty risk exposure with market makers
• Implement risk controls and position limits for MM activities
• Identify and mitigate potential manipulation, wash trading, or adverse selection risks
• Collaborate with compliance and risk teams to ensure regulatory adherence
• Develop contingency plans for market maker failures or liquidity disruptions
• Monitor market abuse patterns and ensure fair trading practices