Senior Analyst, Tokenization & Alternative Products

As a Senior Analyst, Tokenization & Alternative Products at Cboe Global Markets, you provide research, modelling, and analytical capacity to support the firm's fast-moving tokenization and alternative products initiatives across listed markets, centrally cleared derivatives, clearing product development, and digital asset infrastructure. Based in Chicago (4 days in office), you report to the VP, Head of Tokenization and serve as a critical bridge between Chicago and the team's other locations, ensuring rigorous evaluation of new initiatives to keep them commercially grounded, compliant, and integrated with Cboe's core 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
• Build and maintain the team's evidence base on partner landscape, regulatory developments, on-chain vs. 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 the 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 and translate between business and technical audiences
• Support the 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 the senior leads can act on
• Support the 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)
• A solid understanding of digital asset products across CEXs and DEXs including OTC knowledge and experience working on tokenization initiatives
• A 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 datasets 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; Python experience is a strong plus
• Strong written and verbal communication skills, including the ability to produce senior-level insights
• Strong MS Office skills (Word, Excel, PowerPoint); Sigma experience is advantageous
• A Bachelor's degree; an advanced degree or relevant Master's is preferred
• Legal authorization to work in the United States without 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-$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, where applicable, participation in Cboe's long-term equity programs
• Participation in Cboe's total rewards program, including benefits and other compensation components

About Cboe Global Markets

Cboe Global Markets is a financial markets infrastructure and derivatives exchange operator serving trading, clearing, and market data needs across equities, derivatives, and digital assets globally.