Portfolio Manager – Cross-Market Term Structure Trading

2 weeks ago

London Area, United Kingdom Onyx Alpha Partners Full time £120,000 - £240,000 per year

Portfolio Manager – Cross-Market Curve Trading

London / United Kingdom (On-site or Hybrid)

The Firm

A leading multi-strategy investment firm managing approximately ~$30 billion AUM, known for its consistent performance, institutional infrastructure, and disciplined approach to risk. The platform combines quantitative and discretionary investment styles across global markets and provides exceptional support through shared data, execution, and research resources.

Role Overview

The firm is seeking a Portfolio Manager to design and lead systematic and relative-value strategies across global futures markets, with an emphasis on curve dynamics and cross-market relationships.

The mandate focuses on capturing roll, basis, and spread opportunities through quantitative research, rigorous risk management, and scalable portfolio construction.

Key Responsibilities

Strategy Build-Out:

  • Develop and manage systematic and relative-value trading strategies focused on curve and term-structure dynamics across rates, energy, and equity index futures.

Alpha Generation:

  • Identify and exploit carry, roll, and basis differentials across markets—such as US Treasuries vs STIRs, Brent vs WTI, and crack spreads—by integrating quantitative analysis with real-time execution.

Portfolio Management:

  • Oversee capital allocation and exposure management using disciplined volatility targeting, liquidity constraints, and drawdown control to maintain consistent risk-adjusted performance.

Research & Execution:

  • Leverage advanced programming and infrastructure to refine quoting, hedging, and execution systems. Collaborate with internal technology teams to optimize latency, pricing precision, and testing frameworks.

Cross-Team Collaboration:

  • Partner with quantitative researchers, data engineers, and domain specialists to enhance model robustness, improve pipeline efficiency, and scale research into production.

Qualifications

Experience:

  • 3–10+ years trading or researching cross-market or term-structure-based futures strategies, with a verifiable live PnL track record.
  • Experience at a hedge fund, multi-manager, or proprietary trading group is advantageous.

Technical Skills:

  • Proficient in Python for data analysis and model development; familiarity with C++ or kdb+/q advantageous.
  • Strong understanding of futures term structures, roll yield mechanics, curve dynamics, and cross-asset relative value.

Reasons to Apply

  • Front-line opportunity to build and scale a cross-market relative-value business within an exponentially growing systematic futures platform.
  • Direct access to institutional-grade infrastructure, comprehensive data pipelines, and cross-disciplinary research support.
  • Backed by significant balance sheet, providing the capacity to grow your book to critical mass while maintaining a strong Sharpe ratio.
  • Highly competitive, performance-linked compensation, with the opportunity to co-invest alongside the fund and participate in market-leading returns.
  • High degree of autonomy within a semi-collaborative, data-centric culture that rewards innovation, precision, and scalability.

Apply Now

At
Onyx Alpha Partners
, we connect elite investment professionals with opportunities that expand their universe of unconstrained performance. If this role aligns with your ambitions, please apply or contact the Onyx Alpha team in confidence.

  • Portfolio Manager

    1 week ago

    London, Greater London, United Kingdom Shipping and Trading Network Full time £100,000 - £120,000 per year

    Portfolio Manager: London and GenevaWe are seeking an experienced and commercially driven Portfolio Manager - Oil and/or Gas to oversee, optimise, and manage a diverse portfolio of physical and/or derivative energy positions. The ideal candidate will have strong analytical and market knowledge, commercial acumen, and experience in managing exposures in...

  • Senior Structured Power Trader

    1 day ago

    London Area, United Kingdom Vallum Associates Full time

    Senior Structured Power Trader – LondonLocation:London, UKSector:Energy / Power TradingAbout the Company:We are a leading European energy trading firm with a strong presence in power and gas markets, committed to driving innovation in structured power solutions. Our London desk is at the forefront of developing sophisticated trading strategies across...

  • Implementation Portfolio Manager

    20 hours ago

    London Area, United Kingdom Laz Partners Full time

    Role OverviewWe have exclusively partnered with aTier-1 Alternative Investment Managerlooking to hire an Implementation Portfolio Manager for a market-leading team. The role sits within a centralised investment team responsible for SAA and capital deployment across public & private credit, structured credit, and macro fixed income (rates), for a significant...

  • Trade Marketing Manager

    7 days ago

    London Area, United Kingdom GHF | Building The Iconic Drinks Brands of the Future Full time £40,000 - £80,000 per year

    GHF – Trade Marketing ManagerReports to:Head of BrandLocation:London (Hybrid)Compensation:CompetitiveAbout GHFGHF is a brand development agency representing a premium portfolio of pioneering drinks brands in the UK market. We believe iconic brands are built by consistently being culturally relevant, credible, and available: principles that guide every...

  • Cross-Asset Structurer

    2 weeks ago

    London Area, United Kingdom Crédit Agricole CIB Full time £80,000 - £120,000 per year

    Job summaryAbout StructuringGlobal Markets Structuring sits within the Client Advisory, Solutions and Hedging (CASH) business area in Global Markets Division and is a team of financial engineering specialists dedicated to the development of innovative and bespoke solutions for our clients. Structuring works closely with both Sales and Trading to develop new...

  • Structured Solutions

    2 weeks ago

    London Area, United Kingdom Commerzbank AG Full time £40,000 - £80,000 per year

    Main purpose of the roleStructured Solutions & Investments (SSI)is seeking a number of motivated graduates to join its team across Trading, Structuring and Sales functions.SSIis a global team, located across key hubs in Frankfurt, London, Singapore, and New York specialising in credit investment, sales, trading, structuring, secured financing and collateral...

  • Senior Market Risk Analyst

    17 hours ago

    London Area, United Kingdom DV Trading LLC Full time

    About Us:Founded 19 years ago and headquartered in Chicago, the DV Group of financial services firms has grown to more than 450 people operating throughout the world. Since spinning out of a large brokerage firm in 2016, DV Trading rapidly scaled as an independent proprietary trading firm utilizing its own capital, trading strategies, and risk management...

  • Trading Operations Technical Engineer

    2 weeks ago

    London Area, United Kingdom Global Trading Firm Full time

    A leading global trading firm seeks a Trade Operations Engineer to join one of their trading teams in London.ResponsibilitiesMonitoring high-volume live trading and portfolio riskContributing to the automated trading operations codebaseManaging ongoing projects with various support teamsCoordinating software and hardware upgradesApplying programmatic...

  • Trading Operations Technical Engineer

    1 week ago

    London Area, United Kingdom Global Trading Firm Full time

    A leading global trading firm seeks a Trade Operations Engineer to join one of their trading teams in London.ResponsibilitiesMonitoring high-volume live trading and portfolio riskContributing to the automated trading operations codebaseManaging ongoing projects with various support teamsCoordinating software and hardware upgradesApplying programmatic...

  • Trade Marketing Manager

    2 weeks ago

    London Area, United Kingdom Signature Career Management Full time

    Are you a commercially astute Trade Marketing Manager looking for your next challenge in a dynamic FMCG environment? Do you want to join a business that’s part of a global group, renowned for developing talent and driving growth? If so, this could be the opportunity for you! Signature Career Management are partnered with a market-leading food manufacturer,...