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About the Role

As a Capital Markets Analyst, you will manage Xtrackers ETP primary market processes, focusing on operational efficiency, scalability, and continuous improvement. You will identify and manage operational risks, partner with internal stakeholders, and develop primary market mechanisms to support efficient creation and redemption activity. You will also act as a Capital Markets Specialist, oversee secondary market activity, and build relationships with market participants.

Responsibilities

Perform the day-to-day management of Xtrackers ETP primary market processes, focusing on operational efficiency, scalability, and continuous process improvement.
Identify and manage operational risks, ensuring robust governance, escalation, and resolution procedures.
Partner with internal stakeholders across Trading, Operations, Product, Portfolio Management, Legal, Compliance, and Sales to support new product launches, cross-listings, and platform developments.
Develop and enhance primary market mechanisms that support efficient creation and redemption activity, enabling tight spreads, strong liquidity, and depth in secondary markets.
Act as a Capital Markets Specialist within Xtrackers, providing strategic, operational, and market expertise to colleagues across Sales, Portfolio Management, Marketing, Operations, and Product teams.
Oversee and analyse secondary market activity across exchanges, including spreads, liquidity, trading volumes, market depth, premiums/discounts, and market maker performance.
Build and maintain relationships with authorised participants, market makers, broker-dealers, exchanges, and other market infrastructure providers to enhance primary and secondary market efficiency.
Engage with exchanges regarding market structure, trading platform requirements, market maker programmes, fees, and regulatory developments.
Serve as a key point of contact for internal and external clients, responding to technical product enquiries and supporting capital markets-related initiatives.
Produce market intelligence, competitor analysis, and trading analytics to support product development, business strategy, and client engagement.
Utilise high-frequency market data to develop and enhance analytical tools, reporting capabilities, and trading insights.
Maintain responsibility for the quality and accuracy of European Xtrackers ETP market data, ensuring robust, timely, and scalable data management processes.
Collaborate with Sales, Marketing, Product Development, and external partners to maximise the value delivered to clients through market data, research, and analytics.
Support product development and delivery through analysis of competitor products, secondary market dynamics, broker requirements, and market structure considerations, including new product launches and listings.
Contribute to the ongoing development of the Xtrackers capital markets platform and broader business strategy.

Requirements

Experience within ETF/ETP Capital Markets, Delta One, Synthetic Products, Equity Derivatives, or a related trading environment.
Strong understanding of financial markets, exchange-traded products, and market structure.
Knowledge of Total Return Swaps (TRS), synthetic replication, and associated trading and operational processes.
Strong analytical and problem-solving skills with a high degree of attention to detail.
Experience managing projects and coordinating multiple stakeholders across complex initiatives.
Strong risk awareness, with the ability to identify issues and implement effective controls and mitigation measures.
Advanced data analysis skills, including experience with Python, SQL, or similar analytical tools.
Experience using Bloomberg, Reuters, or equivalent market data platforms.
Strong communication and interpersonal skills, with the ability to engage effectively with senior stakeholders, clients, and external partners.
Self-motivated team player with a proactive approach to delivering results in a fast-paced environment.
Experience working with ETF market makers, authorised participants, exchanges, or liquidity providers.
Knowledge of regulatory, operational, and trading considerations relevant to European ETF markets.
Fluency in an additional European language would be beneficial.
CFA Charterholder or CFA candidate would be beneficial.

Skills

Python
SQL
Bloomberg
Reuters

Location

London

Work Type

Hybrid Working model (two days a week in the office, three days remote)

Experience Level

Experience within ETF/ETP Capital Markets, Delta One, Synthetic Products, Equity Derivatives, or a related trading environment.
Experience managing projects and coordinating multiple stakeholders across complex initiatives.
Experience working with ETF market makers, authorised participants, exchanges, or liquidity providers.

Education Level

Degree in Mathematics, Finance, Economics, Engineering, Computer Science, Physics, or another quantitative discipline.

Benefits

30 days’ holiday + bank holidays, with the option to purchase additional days
A non-contributory pension scheme, up to 10%
Physical and Mental Health Well-Being benefits including Private Medical Cover, a complimentary GP service and the support of Mental Health First Aiders
Family friendly benefits including generous parental leave packages, healthcare plans and travel insurance
The opportunity to support our CSR strategy which is focused on combatting climate change and achieving greater social justice.
Corporate volunteering opportunities

About the Company

DWS Group is an industry-leading firm with a global presence, focused on innovating differently, investing responsibly, and making change.
DWS Xtrackers covers a full range Exchange Traded Funds across Equity, Commodities and Fixed Income, as well as Segregated mandates.
DWS has an integrated investment platform with a strong footprint globally.

Equal Opportunity

DWS is committed to creating a diverse and inclusive workplace, one that embraces dialogue and diverse views, and treats everyone fairly to drive a high-performance culture.
We are committed to creating a diverse and inclusive workplace, one that embraces dialogue and diverse views, and treats everyone fairly to drive a high-performance culture.