Baltic Exchange is the world's leading source of independent maritime market data and we have an exciting opportunity for highly motivated professional to join our Freight team.
We sit at the heart of maritime industry, bringing together the shipowners, charterers, and brokers who make up the market of the seaborn movement of bulk commodities. Representing a global community of shipping interests, the Baltic Exchange provides a framework for its members to commit to a high standard of business practice. Our indices and assessments are used as a settlement tool for freight derivative trades, for benchmarking physical contracts and as a general indicator of freight market performance extending coverage to the wider logistics chain including containers and air freight.
Headquartered in London, we have regional offices in Singapore, Shanghai, Athens, Stamford, and Houston. Since 2016, the Baltic Exchange is part of the Singapore Exchange (SGX) Group.
Reporting to the Head of Benchmark Production, the successful candidate's responsibilities include but are not limited to the following:
- Maintaining regular contact with Panellists, Broker and Traders to provide accurate assistance to Panellists.
- Being a link between the Baltic and the FFABA and IFFAA which includes but is not limited to attending events, ensuring the products are well marked and remain relevant.
- Ensuring there is redundancy built into the curve production process, the panel of brokers and new indices as and when they are launched across Ocean Bulk and FBX or BAI as well as ensuring that the current and future indices are produced in-line with market practice.
- Collaborating with the Technology Team on development of the indices which includes extrapolating curves and simplifying the job of the Panellists whilst ensuring the indices remain accurate and in-line with developments in the FFA market.
- Exercise the benchmark determination process with integrity and in an independent manner, especially when engaging with Baltic Contributors.
- Exercise the Baltic’s internal procedures to ensure the accuracy and reliability of the benchmarks administered.
- Collect and record market information and fixtures.
- Carry out ad hoc analyses of Contributors and their contributions received in line with the benchmark administered Periodically assess the performance of Contributors.
- Identifying anomalous or suspicious contributions or reported transactions and keeping records of communication and decisions made in relation to the benchmark determination process.
- Assessment of Contributor’s reports & clarification when unusual inputs are quoted.
- Be the point of communication with Central Clearing Parties (CCPs).
- Provide feedback on any routes that might require changing or suspending.
- Attend to and answer Baltic indices enquiries and where necessary provide sufficient information for Compliance to review.
- Ensure all conversations, information received, discussions held with Contributors and exercise of expert judgment is line with our internal policies.
- Participate in any forums or discussions about potential index changes or relevant market matters.
- Annually audit sector Contributors on time and in accordance with our Guide to Market Benchmarks.
- Develop FFA market reports in conjunction with CCPs and other parties for Baltic clients.
Applications are welcome from candidates who meet the following essential requirements:
- Experience of FFA’s and Options, additional experience of forward curve production an advantage.
- Familiar with derivatives market and the vocabulary used by market participants.
- Must have strong interpersonal and communication skills, in particular, the ability to liaise with Contributors in a sometimes sensitive environment.
- Ability to build positive business relationships and work collaboratively.
- Willingness to /discuss index assessments given by senior brokers in a compliant manner.
- Ability to verify and analyse input data given the market conditions at the time and discuss with Contributors in an impartial and independent manner to ensure the integrity of the benchmarks administered by the Baltic.
- Be able to prioritise and work to tight deadlines.
- Have an eye for detail and ability assess and analyse input data.
- Ability to encourage market participants to provide information on the relevant market segments.
- Acceptable profile and knowledge to increase market canvassing and improve quality of market information.
- Ability to write market reports, minutes for forums and/or papers for meetings.
- Proficiency in Microsoft Excel and data capturing programs and reporting tools along with standard Microsoft packages.
- Ability to understand, have knowledge of and carry out benchmark activates pursuant to our policies and procedures for Assessors contained within our Guide to Market Benchmarks
- Ability and willingness to learn.
- Enthusiasm and drive to assist in improving controls and processes for the benchmark determination process and support the Baltic in meeting its regulatory requirements and to work in compliance of regulatory provisions.
- Experience creating analytical reports and charts
- Extensive knowledge of the Baltic business, procedures and index history.
- Commercial experience working with indices, market information, shipping and/or financial benchmarks