Senior Analyst, Tokenization & Alternative Products

As a Senior Analyst, Tokenization & Alternative Products at Cboe Global Markets, you provide the research, modelling, and analytical capacity to support a fast-moving, multi-stakeholder portfolio spanning trading infrastructure, clearing, product, oracle and regulatory franchises. Based in Chicago (4 days in office) and reporting to the VP, Head of Tokenization in London, you serve as a US-anchored resource giving the team durable Chicago-hours coverage and act as a conduit between Chicago and the team's other locations. You contribute to Cboe's evaluation, planning, and execution of tokenization and alternative product initiatives across listed markets, centrally cleared derivatives, clearing product development, and digital asset infrastructure.

What you'll do

• Own competitive intelligence, market sizing, and product-economics analysis across tokenization and digital-asset venues, including derivatives and retail trading venues, drawing on inputs from derivatives and retail trading leaders
• Build and maintain the team's evidence base including partner landscape, regulatory developments, on-chain versus off-chain market structure, and adoption metrics
• Monitor competitive developments and evolving global standards in tokenization, crypto assets, and alternative products
• Analyze trading, liquidity, and client data to support product design, monitoring, and strategic decision-making
• Build and maintain datasets, dashboards, and analytical reports for internal stakeholders
• Produce decision-grade materials and turn stakeholder conversations into structured outputs senior leads can act on
• Prepare concise briefing materials, data packs, and executive-ready summaries
• Maintain working literacy in tokenization mechanics, DLT infrastructure, and digital-asset market structure to interpret technical material, frame analytical questions accurately, and translate between business and technical audiences
• Engage technical content without losing analytical rigor and act as a credible interlocutor in partner and stakeholder conversations
• Support senior leads' engagement with related functions across Cboe including Data Vantage, Cboe Clear, Equities, Derivatives Product and Sales, Market Structure, Legal, Regulatory and Strategy by coordinating inputs and following up on action items
• Translate partner, client, and sales feedback into structured analytical inputs senior leads can act on
• Support senior leads in tracking regulatory developments globally as they impact tokenization and alternative products initiatives
• Contribute to risk assessments related to custody, wallet infrastructure, default scenarios, and on-chain/off-chain reconciliation
• Help prepare materials for governance, regulatory, and partner due-diligence discussions

What you bring

• 4+ years of experience in financial markets, exchanges, fintech, and/or digital asset firms (candidates with 2+ years and strong relevant exposure will be considered)
• Solid understanding of digital asset products across CEXs and DEXs including OTC knowledge and experience working on tokenization initiatives
• Good understanding of US and European market structures and regulation, the retail and institutional trading landscape, including brokers, venues, and liquidity providers
• Demonstrated ability to produce executive-level analytical materials and data sets as well as presentation materials
• Working knowledge of tokenization standards, digital asset infrastructure, or DeFi/TradFi convergence themes
• Strong analytical skills with experience working on large datasets
• Working knowledge of SQL, with Python experience a strong plus
• Strong written and verbal communication skills, including ability to produce senior-level insights
• Strong MS Office skills (Word, Excel, PowerPoint), with Sigma experience advantageous
• Bachelor's degree required; advanced degree or relevant Master's preferred
• Must be legally authorized to work in the United States without the need for employer sponsorship now or in the future

Nice to have

• Experience with exchange-traded derivatives, clearing oracles and post-trade infrastructure
• Experience automating analytics or reporting workflows
• Demonstrated use of AI tools to accelerate analytical workflows, including competitive research, document synthesis, data exploration, and drafting of briefing materials
• Familiarity with Jira, Confluence, Snowflake, and similar tools

What we offer

• Base salary range of $102,850 to $133,100, with actual compensation determined by job-related factors such as skills, relevant experience, education, internal alignment, and location
• Eligibility for annual incentive compensation and participation in Cboe's long-term equity programs where applicable
• Participation in Cboe's total rewards program including benefits and other compensation components
• 4 days in office in Chicago

About Cboe Global Markets

Cboe Global Markets is an exchange operator serving financial markets with listed options, equities, derivatives, and digital asset infrastructure. The company is expanding its work in tokenization and alternative products across data, clearing, and product areas while deepening integration with traditional business lines.