Settlements Analyst

Group Overview The TP ICAP Group is a world leading provider of market infrastructure. Our purpose is to provide clients with access to global financial and commodities markets, improving price discovery, liquidity, and distribution of data, through responsible and innovative solutions. Through our people and technology, we connect clients to superior liquidity and data solutions. The Group is home to a stable of premium brands.

Collectively, TP ICAP is the largest interdealer broker in the world by revenue, the number one Energy & Commodities broker in the world, the world’s leading provider of OTC data, and an award winning all-to-all trading platform. The Group operates from more than 60 offices in 27 countries. We are 5,300 people strong. We work as one to achieve our vision of being the world’s most trusted, innovative, liquidity and data solutions specialist.

Role Overview The Settlements team are responsible for supporting a multitude of Fixed Income and Cash Equity broking desks in several EMEA locations including performing a variety of Settlement Middle office tasks to ensure both timely and accurate matching of trades within a controlled environment. The team settle principal bond, equity & money market instruments (CDs, Commercial Paper, notes) trades via Euroclear or in 30+ local domestic markets utilising an agent bank network (BNY Mellon, BNP Paribas, Deutsche Bank etc).

The company have no trading position or portfolio & so we deem this ‘Matched Principal’ (buys & sells are matched exactly) which is also sometimes called turnaround trading. ICAP have a small stock loan business which is processed by the Settlements team and can be a manually intensive task. Also in this team we have resource that looks after corporate actions (mainly coupon & dividend payments) that arise due to the principal trading.

The main function of the team is to ensure that all trades are matched with clients so that the purchases & sales settle on time with zero cost to the company, as trade sizes are very large & carry associated risks. The team also undertake nostro & depot reconciliations for the associated accounts . Most staff work 8am to 5pm however we require some coverage from 7am and then until 8pm to cover US settlements.

The team implements a limited shift rota to cover these extended hours.

• Timely matching of trades and resolution of any exceptions same day
• Validation of front office amendments/cancellations where necessary
• Provision of first line support to brokers for any settlements queries
• Escalation any issues (where necessary) to management
• Collaboration with peripheral teams to ensure the data is correct to support the trade flow
• Daily review of cross desk trading to ensure a flat book and escalation any residual balances
• The maintaining and clearing exception queues in a timely and efficient manner
• Daily reconciliations are performed and exceptions that arise resolved
• To provide support on any relevant project, under the direction and oversight of your Manager
• To work with team manager, to fulfil the implementation of any changes necessary within the Settlements function in relation to regulatory and business requirements
• To provide support for any internal or external audits as required
• To support our Technology teams in technical developments, including UAT and post-release support
• Fulfil any additional or ad hoc duties as required to meet the needs of our business

• Essential Demonstrates excellent attention to detail, possesses high organisation skills & a proactive approach
• Demonstrates strong analytical ability and problem solving skills
• Demonstrates the ability to work effectively in a high pressure…