Trade Operations Analyst

About Us

Engelhart was founded in 2013 by BTG Pactual Group as a commodities trading company. Our business model is “asset light” and highly diversified – giving us the ability to adapt effectively and nimbly to changing market conditions. We have assembled successful multidisciplinary teams, leveraging advanced fundamental analysis with deep quantitative and weather research capabilities.  Our activities are underpinned by strong risk management practices and by powerful technology and operational excellence. We have exceptional teams with diverse global backgrounds and decades of experience, and are driven by a highly collaborative culture, across products and competencies.

In 2024, Engelhart acquired Trailstone, a global energy trading and technology company. The acquisition provides us with new expertise, analytics and proprietary technology which is being used to provide risk management and optimisation services to help maximise the value of our clients’ renewable power. The acquisition also expanded Engelhart’s capabilities into physical natural gas across North America, a critical fuel to support the energy transition.

Our talented and experienced individuals work together according to its four company values: Performance, Agility, Collaboration, Entrepreneurship.

About the Role

Engelhart’s Trading Operations team supports trading activity across global energy and financial markets, including power, gas, commodities and FX futures and options, traded on multiple exchanges as well as OTC markets. The successful candidate will work closely with traders, execution teams and middle and back-office stakeholders across multiple time zones to ensure efficient and accurate trade operations.

This is a highly front-office-facing role requiring someone who can act as a trader support partner, analysing trading data quickly and responding to time-sensitive requests from the trading desk. The role requires a strong understanding of futures and options behaviour, including spreads, lifecycle events, and the drivers of position and P&L movements.

This role will be based in our London office, own the following responsibilities:

• Monitoring and managing global power, gas, commodities and FX futures and options trades, including exchange-traded and OTC instruments.
• Supporting traders by analysing positions and investigating drivers of P&L and position movements.
• Providing real-time desk support, investigating trade discrepancies, position breaks, or unexpected P&L changes.
• Reconciling trades, calculating settlements, and ensuring accuracy of trade and position records.
• Analysing futures and options strategies, including spreads, and assist traders in understanding lifecycle events such as exercises and assignments.
• Managing the operational lifecycle of OTC and brokered transactions, including confirmations, amendments, resets, and other lifecycle events.
• Utilising trading and clearing platforms including CME Direct, WebICE, Trayport, and TT to monitor trades and positions.
• Supporting margin calculations, complex trading strategies, indexes, and OTC swap settlements.
• Providing cross-coverage within the Trading Operations team to ensure continuity of trading desk support.
• Identifying opportunities to streamline trading support processes and improve operational efficiency.

About You

This person will be a mid-level trading operations professional with strong experience supporting power and gas commodities and FX futures and options in a fast-paced, global trading environment. Crucially, they will be comfortable working closely with traders, analysing trading data quickly, and responding to desk requests in real time. The successful candidate will have a solid understanding of futures and options behaviour and P&L drivers, including how trading activity, market movements, and lifecycle events impact positions, even if they are not directly responsible for producing formal P&L reports.

We believe the following experiences and skills will best set his person up for success:

• Strong operational expertise in power and gas commodities and FX futures and options, including trade processing, settlements, and reconciliations across multiple exchanges.
• Demonstrable understanding of exchange and clearing operations (ICE EU/US, NYMEX, CBOT, LME, CMX, Endex, Matif, SGX, NGX, ASX, Dalian, SHFE) and OTC swap settlements.
• Strong understanding of futures and options P&L drivers, including the ability to analyse and explain basic P&L movements linked to trading activity, market moves, and lifecycle events.
• Good understanding of options lifecycle events, including exercises and assignments, and their impact on positions and P&L.
• Familiarity with spread positions and more complex trading strategies across commodities and FX derivatives.
• Hands-on experience supporting non-exchange traded workflows, including OTC and brokered trade capture, confirmation matching, and lifecycle management.
• Proficiency in trading and clearing platforms such as CME Direct, WebICE, Trayport, and TT, as well as familiarity with SPAN margin models.
• Strong Excel skills, including pivot tables, advanced formulas, and the ability to analyse trading data efficiently.
• Strong communication and interpersonal skills, confident interacting with traders, front office teams, and internal stakeholders.
• Able to prioritise effectively, manage competing demands, and operate under pressure in a fast-paced trading environment.
• Collaborative, proactive, and adaptable, with strong ownership, attention to detail, and a track record of improving operational processes.

What we offer

• Competitive compensation and participation in Engelhart’s discretionary bonus plan.
• 25 days of annual holiday entitlement, excluding UK public holidays.
• Robust benefits package such as medical, dental, life insurance, generous pension contribution, and supplemental benefits partially subsidised by the Company.
• Eligibility to receive external and internal training in accordance with our Training & Development Policy.

We believe in inclusivity and are therefore dedicated to ensuring all employees – across gender identity, race, ethnicity, sexual orientation, religion, life experience, background and more – feel welcome and included in the company. We promote diversity because we believe it is essential to our ability to think holistically.