Physical Metals Trader at StoneX in London

Job description

Overview Connecting clients to markets – and talent to opportunity. With 4,500+ employees and over 300,000 commercial, institutional, payments, and retail clients, we operate from more than 70 offices spread across six continents. As a Fortune 100, Nasdaq-listed provider, we connect clients to the global markets – focusing on innovation, human connection, and providing world-class products and services to all types of investors. Whether you want to forge a career connecting our retail clients to potential trading opportunities, or ingrain yourself in the world of institutional investing, StoneX Group is made up of four business segments that offer endless potential for progression and growth. Position purpose: Build a physical metals trading and supply chain business, leveraging StoneX's existing commodity infrastructure. The mandate is entrepreneurial — this is a start-up business — but it is not a start-up from a standing start. StoneX Supply & Trading already operates a global physical merchanting platform spanning grains, coffee, cotton, cocoa, sugar, biofuels and fats & oils. Additionally, StoneX houses a leading global LME base metals and ferrous derivatives franchise. The successful candidate will leverage that infrastructure, balance sheet and market access into a scaled, profitable physical metals book. Responsibilities The platform you will build on Derivatives franchise: a global LME base metals and ferrous metals derivatives business, with established exchange, OTC, broker and client connectivity. Booking systems and processes: trade capture, booking and confirmation systems already proven across multiple physical commodity classes and geographies. Logistics: full capability across all modes of transport — bulk vessel, container, rail, barge and truck — together with warehousing, inspection and documentary trade execution. Capital and financing: funding through StoneX equity and established bank and trade finance relationships. Legal entity infrastructure: operating entities across Switzerland, the United States, Brazil, Colombia and Mexico. Middle and back office: contract administration, settlements, accounting and control functions already staffed and scaled. Control environment: enterprise market risk, credit, compliance, legal and technology functions supporting a regulated, publicly traded group. Business build-out and strategy Work with internal Supply & Trading resources to set up initial products in trade systems, working across internal Risk and trade support groups to define contract structures, pricing conventions, valuation, position keeping and P&L reporting. Work with existing LME brokers and consultants to identify trade flow opportunities, prioritising the enablement of embedded pricing and working capital opportunities. Bring new supply and customer trade counterparties into the StoneX system, partnering with Credit, Compliance and Client Onboarding to move them from introduction to executable limits. Identify strategic opportunities, including but not limited to off-take agreements, asset optimisation, tolling and procurement agreements. Shape the business plan, budget and growth roadmap in partnership with the CEO of StoneX Supply & Trading, and sequence market entry by metal, region and structure. Trading and execution Execute and manage the purchase and sale of commodities and related logistics in support of the metals business, within the operational and risk requirements of StoneX Supply & Trading. Structure and manage hedges across futures, OTC and options markets to manage outright price, basis, quotational period, currency and freight exposure. Analyse individual client operations to determine market exposure, price sensitivity and financial risks, and translate that analysis into commercial solutions that combine physical supply, hedging and financing. Optimise the deployment of working capital across inventory, in-transit positions and financing structures. Risk, control and operations