Head of Derivatives

Luxor specializes in the physical delivery of hashrate (compute power for mining cryptocurrency). Over the past four years, we have been acting as a buyer of hashrate, purchasing and mining over $500mm worth. We currently have 140,000 machines that sell us their hashrate daily.

Company Background

We believe that proof-of-work is the future of decentralized blockchains and we want to help build the underlying infrastructure to support it. We are building a suite of products around compute power as an asset class. Our new venture is derivatives focused on the mining sector, including on the value of compute power. Bitcoin miners have limited tools to hedge out future risks of their production, and investors/speculators have not been able to participate in robust compute power marketplaces. We believe hashrate will be the first type of computational power traded on exchanges.

This role will report directly to the CEO. This position is remote with the possibility of hybrid depending on location.

Job Requirements:

• 2+ years in trading derivatives.
• 3+ years in building derivative products.
• Self-starter, with the desire to build a business line from the ground up.
• Experience in cryptocurrency (hobby or professional), with an interest in Bitcoin mining, compute power, energy markets and semiconductors.
• Experience working with the CFTC and other US regulatory bodies or in organizations regulated by them.
• Bachelor’s in Economics, Computer Science, Mathematics, Engineering, Finance or a related field. CFA or equivalent designations are beneficial.
• FINRA Series 7, and 63 are beneficial but can be obtained under a condition of employment

Responsibilities:

• Lead the process from idea generation to trading, the full execution life cycle of creating a new business line.
• Build and manage a team to create the business, including identifying team requirements, drafting job descriptions, coordinating on the hiring process, onboarding and training.
• Design unique products for miners and investors to use in the mining space; including products such as cash-settled hashrate futures, physically delivered hashrate forwards and swaps.
• Manage regulatory process and acquire various licenses to offer derivatives products to domestic and international investors.
• Build up demand for these products with the business development and sales team.
• As necessary, assist in the development of various analyses around firm profitability, liquidity, credit and market risk, and return metrics, to educate the market
• Foster strong, deep relationships by frequently interacting with our internal and external clients/counterparties to build brand loyalty

At Luxor we believe that meaningful contributions can be made by anyone. Each of us has a responsibility to drive Equality in our communities and workplaces. We are committed to creating a workforce that reflects society through inclusive programs and initiatives such as equal pay, employee resource groups, inclusive benefits, and more. Luxor is an Equal Employment Opportunity and Affirmative Action Employers. Qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender perception or identity, national origin, age, marital status, protected veteran status, or disability status. Luxor welcomes all. Luxor does not accept unsolicited headhunter and agency resumes. Luxor will not pay any third-party agency or company that does not have a signed agreement with Luxor.

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Salary and compensation

$200,000 — $350,000/year

Location

🇺🇸 US