Head of Product Development - LME Clear

Head of Product Development - LME Clear

Shift Pattern:

Standard 40 Hour Week (United Kingdom)

Scheduled Weekly Hours:

40

Corporate Grade:

B - Senior Vice President

Reporting Line:

(UK Division) LME Clear Corporate

Location:

UK-London

Worker Type:

Permanent

Join our team

The London Metal Exchange is the world centre for industrial metals trading. Most of the world’s non-ferrous metals business is conducted on our three trading platforms: LMEselect (electronic), the Ring (open outcry) and the 24-hour telephone market.

The global metals community uses the LME to trade futures and options to hedge against adverse price movements – prices which are discovered on our markets and used as global references.

In 2023, 149 million lots were traded, equating to $15 trillion notional and 3.5 billion tonnes, with a market open interest high of 1.8 million lots.

In December 2023, 1,163,830 tonnes of material were held on LME warrant in more than 450 storage facilities in 14 countries across 32 global locations.

Participants can transfer or take on price risk against aluminium, copper, nickel, tin, zinc, lead, molybdenum, cobalt, lithium, steel scrap, rebar and hot-rolled coil as well as aluminium premiums and alloys.

All LME trades are cleared by LME Clear, which provides clearing and settlement services for users of the LME on all Ring, electronic and telephone trades.

An HKEX Group Company, the LME also provides benchmark administration services to the platinum-group metals community.

We are looking to bring in an individual committed to bring to life the LME’s purpose, vision and values. The LME’s purpose is to promote and progress our financial markets and the communities they support for the prosperity of all. Our vision articulates our ambition and our focus: to operate the world’s leading metals marketplace by operating the world’s leading metals marketplace. Our values underpin everything we do: integrity, Excellence, Collaboration, Diversity and Engagement.

Integrity

We have integrity. We always do the right thing.

Excellence

We strive to deliver excellence and promote best-in-class in all that we do.

Collaboration

We are collaborative and our teamwork is central tour success. We are always better together.

Diversity

We promote diversity. We recognise that great ideas come from anywhere.

Engagement

We are engaged in the markets and communities in which we operate. We are aware of the important role that we play.

The difference you will make:

You will be leading Product & Platform Development. Specific responsibilities will include:

• Supporting the LME Clear leadership team in modernising the CCP, including refining the business strategy and the defining the long-term LME Clear operating model.
• Leading a cross-functional team to define the LME Clear’s future product / service offering.
• Developing and maintaining an effective revenue and pricing strategy for LME Clear’s product / service offering.
• Taking a leading role in delivering a new technology platform. Leading the definition of the target platform functional / non-functional requirements.
• Helping manage the target platform’s compliance with established and emerging regulatory requirements.
• Injecting ongoing challenge into LME Clear decision-making, helping ensure an optimal balance between the organisation’s risk management and commercial objectives.

What you will bring:

• Significant experience in relevant clearing / post-trade financial services roles (gained either at market infrastructure providers or consulting firms).
• Deep experience in the commercial strategy, service offering and operations of a regulated clearing house.
• Detailed knowledge of regulations impacting design and operations of a clearing house (in particular UK/EU).
• Knowledge of clearing system vendors and characteristics of their solutions.
• Experience designing / implementing clearing systems (custom build or vendor solutions).

You will also display:

• A commitment to bring to life the LME’s purpose, vision and values
• Agile mind-set and openness to build and develop new subject matter expertise in parallel with business needs and growth
• Excellent attention to detail and good judgement.
• Excellent communication skills at all levels of seniority and the ability to influence decisions

It would also be nice for you to have:

• Experience in digital innovation
• Knowledge of LME market structure

The LME is committed to creating a diverse environment and is proud to be an equal opportunity employer. In recruiting for our teams, we welcome the unique contributions that you can bring in terms of education, ethnicity, race, sex, gender identity, expression & reassignment, nation of origin, age, languages spoken, colour, religion, disability, sexual orientation and beliefs. In doing so, we want every LME employee to feel our commitment to showing respect for all and encouraging open collaboration and communication.