Director, Liquidity Management

FMX operates electronic markets in U.S. Treasury cash and futures. We work to make markets more efficient through strong client relationships, carefully designed liquidity, and technology informed by market data. Liquidity Management connects clients, markets, and technology so participants can access useful liquidity and FMX can grow resilient markets.

FMX is seeking a Director of Liquidity Management to lead the relationships, analysis, and operating practices that help liquidity providers and consumers succeed across FMX markets. You will work directly with trading firms, banks, sales, product, market operations, compliance, and technology teams to understand how clients trade, improve liquidity outcomes, and turn market evidence into practical solutions.

• Lead strategic client relationships. Partner with sales managers and clients to understand trading objectives, market access, liquidity needs, and operational constraints. Build trusted relationships with both GUI and algorithmic participants.

• Design and improve liquidity solutions. Recommend liquidity configurations and packages across FMX markets, including CLOB and curated streaming environments. Align provider supply with consumer demand, and manage stream design, entitlements, and configuration.

• Measure market quality and performance. Use order, quote, trade, and client activity data to study spreads, depth, fill outcomes, markouts, participation, and market share. Give clear, evidence-based feedback to clients and internal teams.

• Connect business needs with technology. Translate client and market requirements into actionable priorities for product, engineering, and operations. Help deliver reliable data, useful analytics, and improvements to the trading experience.

• Advance products and market structure. Identify opportunities to improve existing products and develop new liquidity models, trading features, and market structures. Support testing, launch planning, and ongoing adoption.

• Oversee reporting and market intelligence. Set standards for recurring client, investor, incentive-program, and internal reporting. Ensure outputs are accurate, timely, understandable, and useful for decisions.

• Support surveillance and data governance. Work with Compliance and technology partners on surveillance monitoring, regulatory reporting and inquiries, investigations, and the integrity, retention, access, and appropriate use of exchange data.

• Develop the Liquidity Management function. Set priorities, operating standards, and measures of success for the team. Coach colleagues and coordinate work across FMX so client needs are handled consistently and follow-through is clear.

What you bring:

• 8+ years of experience in electronic trading, market structure, liquidity management, trading technology, or a closely related financial markets role, including experience leading complex client or cross-functional initiatives.
• Strong understanding of fixed-income markets, with experience in U.S. Treasury cash and/or futures markets preferred.
• Credibility with trading professionals and the ability to communicate clearly with traders, quantitative teams, executives, and technical partners.
• A record of using data to diagnose market behavior, explain performance, and recommend practical changes.
• Familiarity with electronic execution, order books, market data, trading workflows, and the needs of both liquidity providers and consumers.
• Experience coordinating product or technology delivery, client onboarding, market launches, or operational change.
• Sound judgment when handling sensitive client, trading, and regulatory information; a strong commitment to accuracy and control.
• Bachelor’s degree or equivalent relevant experience.

Helpful additional experience:

• Experience with SQL, Python, Tableau, or similar tools for market analysis and reporting.
• Knowledge of exchange surveillance, regulatory reporting, data retention, or market access controls.
• Experience with liquidity programs, market-maker incentives, curated streams, or other non-public liquidity models.
• Experience applying AI tools to automate workflows and improve operational efficiency.

How success will be measured:

• Clients receive responsive, informed partnership and can identify tangible improvements in their FMX trading experience.
• Liquidity solutions are configured and maintained to support healthy participation, competitive market quality, and sustainable growth.
• Market and client analyses lead to clear decisions, measurable follow-through, and better outcomes for FMX and its participants.
• Products and market initiatives move from client need to well-coordinated testing, launch, and adoption.

• Reporting, data practices, and surveillance support are dependable, accurate, and well governed.

   

Why FMX?

This role offers the chance to shape how electronic markets serve clients, influence product and market development, and work at the intersection of trading, data, and technology. You will help build markets by listening closely to participants and turning what you learn into better liquidity and stronger market outcomes.

Salary: $150,000 + $250,000 + Discretionary Bonus 

The actual base salary will be determined on an individualized basis considering a wide range of factors including, but not limited to, relevant skills, experience, education, and, where applicable, licenses or certifications held. In addition to base salary and a competitive benefits package (including health, vision, and dental insurance, paid time off and a 401(k) retirement), this position may be eligible for additional types of compensation including discretionary bonuses and other short- and long-term incentives (e.g., deferred cash, equity, etc.).

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