Head of Market Making

Job Purpose:

The Head of Market Making will be a senior leadership position within the Brokerage Department, responsible for the end-to-end design, implementation, and management of a new Market Making and Liquidity Providing desk. This role combines high-level strategic planning with hands-on technical execution, focusing on capital allocation, risk management, and sustainable revenue generation through bid-ask spread capture. The Role will be based in Muscat Oman targeting the MSX (Muscat Stock Exchange) as a starting point and to expand to GCC markets in a later stage.

Job Responsibilities:

1. Desk Setup & Infrastructure:

• Technology Integration: Select and oversee the deployment of low-latency execution platforms, algorithmic trading engines, and real-time risk monitoring tools.

2. Execution & Quantitative Strategy:

• Algorithm Development: Develop and refine automated quoting strategies, focusing on volume participation, price improvement, and inventory management.
• Liquidity Provision: Maintain tight spreads and depth across assigned MSX tickers to meet exchange-defined "Market Maker" obligations.

3. Revenue Generation & Scalability:

• Profitability Targets: Drive P&L growth through spread capture, and proprietary positioning within risk limits.
• Regional Expansion: Develop a roadmap for scaling the desk’s infrastructure to enter UAE, Saudi, and other GCC markets once the MSX operations are stabilized.

Qualification:

• Bachelor’s degree from an accredited Institution in Finance, Accounting, Business Administration or related field.

Experience:

• Minimum of 10 years in financial markets, with a proven track record in Equities Market Making.
• Market Knowledge: Deep understanding of the GCC regulatory landscapes, specifically the mechanics of the MSX and regional exchanges.

Key Performance Indicators (KPIs)

• MSX Market Share: Percentage of exchange volume captured by the desk in the initial phase.
• Spread Tightness: Average spread maintained compared to historical benchmarks for assigned stocks.
• Expansion Readiness: Successful technical and regulatory preparation for the first non-Omani GCC market entry.
• Net Revenue: Monthly P&L performance after clearing costs and exchange rebates

Notes:

• Only Shortlisted Candidates will be contacted.