Product Manager, Clearing

Location: New York

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** About Bullish**## Bullish is an institutionally focused global digital asset platform that provides market infrastructure and information services. These include:
** Bullish*
* ** Exchange** – a regulated and institutionally focused digital assets spot and derivatives exchange, integrating a high-performance central limit order book matching engine with automated market making to provide deep and predictable liquidity. Bullish Exchange is regulated in Germany, Hong Kong, and Gibraltar.
** Coin Desk*
* ** Indices** – a collection of tradable proprietary and single-asset benchmarks and indices that track the performance of digital assets for global institutions in the digital assets and traditional finance industries.
** Coin Desk*
* ** Data** - a broad suite of digital assets market data and analytics, providing real-time insights into prices, trends, and market dynamics.
** Coin Desk*
* ** Insights** – a digital asset media and events provider and operator of , a digital media platform that covers news and insights about digital assets, the underlying markets, policy, and blockchain technology.
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* Reports to:

** Head of Product

Your role will focus on the development of sophisticated trading and clearing solutions required to stand up a regulated Futures Commission Merchant (FCM), Designated Contract Market (DCM), and Derivatives Clearing Organization (DCO). This includes the integration of US-specific trading workflows, the implementation of regulatory reporting models, and the enhancement of our risk management capabilities for perpetual futures, dated futures, and options.

Your expertise will drive the evolution of our US platform, ensuring excellence in innovation, user experience, and strict compliance with CFTC regulatory standards.

This position is an excellent opportunity for someone with an entrepreneurial spirit that is passionate about building innovative products, specifically bridging the gap between traditional regulated market structures and the digital asset space.
**** Responsibilities:
***** Help to craft and implement a strategic vision for our US derivatives offering, with a particular focus on the lifecycle of a trade across FCM, DCM, and DCO stacks.
* Define & monitor product success metrics for regulated futures and options products.
* Provide detailed feedback on the technical development of the US platform, including the design of regulatory compliant matching engines, segregation of customer funds workflows, and clearing/settlement logic.
* Collaborate with Engineering, Quant, Risk, Legal, Compliance, and Operations teams to ensure the technical reliability, scalability, and regulatory alignment of our trading platform.
* Act as the bridge between technical teams and regulatory requirements, ensuring that products are built to satisfy obligations for a US regulated entity (e.g., CFTC Parts 1, 38, 39).
* Utilize quantitative skills to assist in the integration of financial models for initial margin, variation margin, and stress testing, ensuring our DCO capabilities offer sophisticated risk management.
* Perform in-depth market analysis of the US derivatives landscape (both traditional and crypto-native) to identify trends and competitive advantages.
* Advocate for an exceptional user experience, ensuring that our trading products are accessible to US institutional clients while maintaining the robust controls required by regulators.
* Maintain a deep understanding of the regulatory landscape affecting digital asset trading in the US, ensuring that all products comply with local financial regulations and industry standards.
* Create, support and monitor Product Management best practices alongside other leaders.
* Some domestic & international travel is required.
* Other duties as assigned.
**** Experience &

Qualifications:

***** Bachelors or preferably an advanced degree in a relevant field (e.g. Finance, Economics, Computer Science, Engineering, etc.).
* 5+ years in product management or related functional roles (Operations, Risk) within the financial services industry.
* Understanding of the full trade lifecycle and underlying technology infrastructure within a regulated US FCM,…