CoinDCX - Associate Director - Market Making

Associate Director - Market Making CoinDCX Journey: Building Tomorrow, todayAt CoinDCX, we believe CHANGE STARTS TOGETHER. You are the driving force that will help us make Web3 accessible to all.In the last six years, we have skyrocketed from being Indias first crypto unicorn to carrying a community of over 125 million with us. To continue maximising the adoption and acceleration of Web3, we are now focused on developing cutting-edge products, addressing accessibility and security challenges, and bridging the gap between people and Web3 technologies. While we go ahead and keep dominating the Web3 world, we would like to HODL you on our team Join our team of passionate innovators who are breaking barriers and building the future of Web3. Together, we will make the complex simple, the inaccessible accessible, and the impossible possible. Boost your innovation to an ALL TIME HIGH with us Inside CoinDCXs Growth & Marketing Team:Our Growth & Marketing team is the engine behind CoinDCXs user acquisition and market expansion strategies. We experiment, analyze, and optimize to drive exponential growth and engagement. If youre data-driven, creative, and passionate about scaling businesses, join us in taking CoinDCX to new heights in the blockchain industry.You need to be a HODLer of 7-10 years of experience in financial markets, with at least 4 years in crypto trading, market making, or exchange operations- Proven track record in business development with institutional trading firms or market makers- Deep understanding of order book dynamics, market microstructure, and liquidity provision- Experience managing relationships with multiple market making firms- Prior exposure to derivatives markets (futures, options, perpetuals) requiredTechnical Skills- Strong quantitative and analytical skills with proficiency in data analysis- Ability to interpret trading data, analyze market quality metrics, and derive actionable insights- Understanding of trading APIs, and exchange connectivity- Familiarity with risk management frameworks and toolsKnowledge & Competencies- Comprehensive knowledge of crypto market structure and trading mechanisms- Understanding of Indian crypto regulatory landscape and compliance requirements- Strong commercial acumen and negotiation skills- Excellent stakeholder management and communication abilities- Strategic thinking with attention to operational detailPreferred Qualifications- MBA or relevant advanced degree from a premier institution- Experience working with crypto exchanges or trading platforms in India- Prior experience building or scaling order books from scratch- Established network within the crypto market making community- Background in traditional finance (equity, FX, or derivatives markets)- Technical background or ability to engage with engineering teams effectivelyWhat We Offer- Opportunity to shape the liquidity strategy for a growing Indian crypto exchange- Direct impact on platform growth and market share- Collaborative work environment with cross-functional exposure- Competitive compensation package with performance incentives- Professional development and growth opportunitiesReporting Structure- This role works closely with Product, Engineering, Risk, and Compliance teams.You will be mining through these tasks:Market Maker Business Development- Identify, evaluate, and onboard institutional market makers for both derivatives and spot order books- Develop, design and execute incentive/pricing strategies to attract high-quality liquidity providers to the platform- Negotiate commercial terms, fee structures, and incentive programs with market makers- Build and maintain a robust pipeline of potential market making partnersPerformance Management & KPI Framework- Define, implement, and monitor key performance indicators (KPIs) for external market makers including:- Spread metrics and depth targets- Uptime and quote consistency- Fill rates and execution quality- Volume commitments and market share- Establish performance benchmarking frameworks and SLA compliance monitoring- Conduct regular performance reviews and drive continuous improvement initiativesLiquidity Cost Optimization- Analyze and optimize the total cost of liquidity across all trading pairs- Design competitive yet sustainable maker-taker fee structures- Implement incentive programs that balance cost efficiency with market quality- Identify opportunities to reduce rebates and trading costs while maintaining competitive spreads- Monitor and report on liquidity ROI and cost per unit of depthOrder Book Expansion- Lead the strategy for migrating and routing additional trading pairs to the proprietary order book- Prioritize pairs based on volume potential, strategic importance, and liquidity availability- Coordinate with product and engineering teams for seamless order book launches- Develop go-to-market strategies for new pair listings with adequate MM supportRelationship Management- Serve as the primary point of contact for market making partners- Build and nurture long-term strategic relationships with key liquidity providers- Organize regular business reviews and feedback sessions with MM partners- Address operational issues and facilitate resolution of technical or commercial concerns- Represent the company at industry events and market maker conferencesRisk Management- Monitor and manage counterparty risk exposure with market makers- Implement risk controls and position limits for MM activities- Identify and mitigate potential manipulation, wash trading, or adverse selection risks- Collaborate with compliance and risk teams to ensure regulatory adherence- Develop contingency plans for market maker failures or liquidity disruptions- Monitor market abuse patterns and ensure fair trading practicesAre you the one? Our missing block:- You are knowledge-hungry when it comes to VDA and Web3, always eager to dive deeper and stay ahead in this evolving space.- The world of Web3 and VDA excites you, fueling your curiosity and driving you to explore new opportunities within this dynamic landscape.- You act like an owner, constantly striving for excellence, impact, and tangible results in everything you do.- You embrace a We over Me mindset, growing individually while fostering the growth of those around you.- Change is your catalyst, igniting your passion to build and innovate.- You think outside the box, unbound by limitations or doubt, always pushing the boundaries of whats possible.Perks That Empower You:- Our benefits are designed to make a lasting impact on your life, giving you the freedom to create a work-life balance that truly suits you.- Design Your Own Benefit: Tailor your perk package to fit your unique needs. Whether youre eyeing a new gadget or welcoming a furry friend into your life, our flexible benefits ensure that you can prioritize what matters most to you.- Unlimited Wellness Leaves: We believe in the power of well-being. Take the time you need to recharge, knowing that your health is our priority. With unlimited wellness leaves, you can return refreshed, ready to build and grow.- Mental Wellness Support: Your mental health is as important as your professional growth. Benefit from access to health experts, free counseling sessions, monthly wellness workshops, and regular team outings, all designed to help you stay balanced and connected.- Bi-Weekly Learning Sessions: These sessions are more than just updatestheyre opportunities to fuel your growth. Stay ahead with the latest industry knowledge, sharpen your skills, and accelerate your career in an ever-evolving landscape. (ref:iimjobs.com)