Currencies and Emerging Markets, Exotics and Hybrids Rates Trading Associate

Role Overview

Join a busy front-office rates trading desk focused on pricing and executing sophisticated interest rate exotics and cross-asset hybrid structures. In this role, you will build deeper expertise in market making, work alongside sales, technology, and quantitative research, and strengthen your capabilities in options valuation and risk oversight. The position offers exposure to institutional clients, a broad range of structures, and strong opportunities to grow within a collaborative trading-floor setting.

What You Will Do

As an Exotics and Hybrids Rates Trading Associate, you will support senior traders in making markets and covering institutional accounts across a defined set of interest rate exotics and cross-asset hybrid products. You will quote and execute structured options, monitor and manage the overall risk position across changing market conditions, and work with sales teams to shape solutions that fit client goals. You will also partner with technology and quantitative research teams to improve pricing tools and model governance, while contributing to a resilient and efficient risk management setup in a fast-moving trading environment.

Responsibilities

• Support market-making in interest rate exotics and cross-asset hybrid products for institutional clients using front-office pricing platforms.
• Value and trade complex options and exotics, including callable step-ups, callable range accruals, CMS curve leveraged steepeners, mid-curve options, YCSO curve options, forward volatility agreements, and hybrid structures spanning multiple asset classes.
• Work with sales teams to understand client hedging and investment requirements and suggest suitable products and trade ideas.
• Share relevant market commentary and updates on important trading flows with clients and internal partners in a timely manner.
• Oversee the desk’s combined risk exposure under different market conditions and apply hedging approaches across rates and related asset classes.
• Collaborate with technology and middle office teams to improve pricing systems, tools, and risk infrastructure for better accuracy and efficiency.
• Partner with quantitative research to strengthen pricing controls and risk management frameworks.

Requirements

• A bachelor's degree in Finance, Economics, or a closely related field.
• At least 3 years of experience analyzing or trading financial markets in APAC.
• Strong grasp of options pricing analytics and how pricing models and risk tools behave.
• Advanced proficiency in Excel and VBA for analytics and tool development.
• Working knowledge of option risk metrics such as delta, vega, gamma, and theta.
• Preferred: strong quantitative grounding in financial mathematics and derivatives pricing.
• Preferred: experience with interest rate swaps, options, exotics, and cross-asset hybrid structures, along with knowledge of fixed income products.

About the Employer

J.P. Morgan is a global financial services firm serving major corporations, governments, wealthy individuals, and institutional investors. The organization emphasizes long-term client partnerships, a high standard of service, and an inclusive workplace that values diversity and equal opportunity. Reasonable accommodations are available for applicants and employees with religious practices or beliefs, mental health needs, or physical disabilities.

About the Team

The Commercial & Investment Bank is a global business spanning banking, markets, securities services, and payments. It supports corporations, governments, and institutions in more than 100 countries by providing strategic advice, capital raising, risk management, and liquidity solutions.