Senior Banknote Trader

Overview Company Overview:

Connecting clients to markets – and talent to opportunity.

With 5,400+ employees and over 80,000 institutional, commercial, and payments clients, we operate from more than 80 offices spread across six continents. As a Fortune 100, Nasdaq-listed provider, we connect clients to the global markets – focusing on innovation, human connection, and providing world-class products and services to all types of investors.

Whether you want to forge a career connecting our retail clients to potential trading opportunities, or ingrain yourself in the world of institutional investing, StoneX Group is made up of four business segments that offer endless potential for progression and growth.

Position

Purpose:

The Senior Banknote Dealer is responsible for the commercial management of current-issue circulating and legacy but tradable banknotes, with a strong emphasis on FX-linked pricing, inventory risk, and hedging strategies.

The role combines physical banknote trading expertise with treasury-style risk management,ensuring profitability and capital protection across multi-currency positions.

The position requires advanced knowledge of banknote markets, FX markets, spreads, liquidity, and counter party risk, and close coordination with treasury, compliance, and operations teams.

Responsibilities

Key Responsibilities Banknote Trading & Inventory Management Trade high volumes of banknotes across major and emerging-market currencies

Manage bid/offer spreads for wholesale and institutional clients

Source notes from central banks, commercial banks, exchange houses, and international counter parties

Optimise inventory turnover while balancing availability and carry costs

Price banknotes dynamically using spot FX, forward points, and market premiumsFX Exposure & Hedging Actively manage FX exposure arising from physical banknote Inventories Design and execute hedging strategies using:

FX spot and forwards

Swaps and rolling hedge structures

Natural hedges between buy/sell flows

Monitor open currency positions and Value at Risk (VaR)
Work closely with Treasury to align hedges with group FX policy

Assess basis risk between physical banknote µricing and interbank FX markets

Qualifications

To land this role you will need:

Extensive experience in banknote trading, FX trading, or treasury functions

Proven experience managing multi-currency physical cash positions

Strong understanding of FX markets, forwards, swaps, and hedging mechanics
Demonstrated ability to price risk and manage margin in volatile markets

Advanced numeracy and risk awareness

Strong commercial judgement and decision-making capability

Experience in wholesale banknote desks or central bank-appointed roles

Treasury or FX trading background

Familiarity with VaR, P&L attribution, and hedge effectiveness analysis
Multilingual skills

Professional qualifications (e.g. ACI, ACT, CFA, IBNS)
Permanent, full-time, #LI-SD1

Job Summary Category (Portal Searching):
Sales & Trading Position Type (Portal Searching):
Experienced Professional