OTC Trader

As an OTC Trader at String, you manage day-to-day trading activities across the OTC desk, covering fiat currencies and stablecoins. This is a hands-on role where you source competitive prices from liquidity providers, distribute daily rates, quote counterparties, and execute trades. You work closely with treasury and commercial teams to ensure trades are competitively priced, efficiently executed, and commercially profitable. The focus is on managing trading activity and growing transaction volumes from existing counterparties, while also expanding the network of liquidity providers to improve pricing and execution capabilities.

What you'll do

• Source and compare live FX and stablecoin rates across banks, OTC desks, and liquidity providers, identifying the best executable prices based on spreads, available liquidity, transaction size, and settlement requirements.
• Maintain relationships with existing liquidity providers and identify new pricing and liquidity opportunities while monitoring market movements, liquidity conditions, and pricing trends across supported currencies.
• Negotiate competitive rates with liquidity providers while maintaining String's target trading margins.
• Provide indicative and firm quotes to counterparties across USD, USDT, USDC, GHS, NGN, and other supported currencies.
• Manage trade execution from pricing and negotiation through booking and confirmation, maintaining accurate trade records including transaction amounts, exchange rates, spreads, and counterparty details.
• Coordinate with treasury to confirm funding availability and settlement arrangements before committing to trades, and monitor outstanding trades to resolve pricing or execution-related issues.
• Distribute daily FX and stablecoin rates to existing counterparties through approved communication channels and respond promptly to pricing enquiries and requests for quotes.
• Maintain active relationships with counterparties to encourage recurring trading activity, follow up on outstanding quotes to identify opportunities to increase trading volumes, and reactivate dormant counterparties.
• Identify and establish relationships with new OTC desks, market makers, and liquidity providers, evaluating potential partners based on pricing competitiveness, execution reliability, settlement capabilities, and available liquidity.
• Coordinate onboarding of new liquidity providers with compliance and treasury teams.
• Monitor trading spreads, execution costs, and net desk revenue to ensure trades are executed within approved pricing, exposure, and risk limits.
• Support daily trade reconciliation with treasury and escalate unusual market conditions, pricing discrepancies, and execution risks.
• Prepare daily trading activity reports covering volumes, margins, executed trades, and outstanding transactions.

What you bring

• Approximately 2 to 6 years of experience in FX trading, OTC trading, treasury dealing, brokerage, or institutional digital asset trading.
• Practical experience sourcing FX or stablecoin liquidity and executing transactions.
• A strong understanding of foreign exchange markets, bid/offer spreads, pricing, and trade execution.
• Familiarity with stablecoins, particularly USDT and USDC.
• Experience working with OTC desks, liquidity providers, brokers, or institutional counterparties.
• Ability to negotiate competitive pricing and manage multiple live transactions.
• Strong numerical and analytical skills with excellent attention to detail.
• Good communication skills and the ability to maintain active counterparty relationships.
• Ability to work independently in a fast-paced trading environment.

Nice to have

• Experience at an OTC desk, FX brokerage, remittance company, payment service provider, or institutional crypto trading firm.
• Existing relationships with OTC desks, market makers, or liquidity providers.
• Familiarity with African FX markets, particularly Ghana and Nigeria.
• Experience trading USD/GHS, USD/NGN, USDT/GHS, or USDT/NGN.
• Understanding of cross-border payment settlement, banking rails, and stablecoin networks.

Performance measures

• Daily and monthly trading volume.
• Net desk revenue and trading margins.
• Quote-to-trade conversion rate.
• Quote response time and execution efficiency.
• Trading frequency and activity across existing counterparties.
• Competitiveness of sourced liquidity and execution pricing.
• Trade booking accuracy and adherence to risk limits.