Legal Counsel (Derivatives)
Wintermute
Legal
London, UK
Posted on Friday, August 30, 2024
About Wintermute
Wintermute is one of the largest crypto native algorithmic trading companies in digital assets. We provide liquidity across most cryptocurrency exchanges and trading platforms, a broad range of OTC trading solutions as well as support high profile blockchain projects and traditional financial institutions moving into crypto. Wintermute also has a Wintermute Ventures arm that invests in early stage DeFi projects.
Wintermute was founded in 2017 and has successfully navigated industry cycles. Culturally, we combine the best of the two worlds: the technology standards of high-frequency trading firms in traditional markets and the innovative and entrepreneurial culture of technology startups. To Wintermute digital assets is not just another asset class, we believe in the innovative potential of blockchain, the fundamental innovations, we have a long-term view on the digital asset market and are taking a leadership position in building an innovative and compliant market. You can read more here.
Nature of the role
We are looking for a Legal Counsel - Derivatives who will focus on supporting Wintermute’s rapidly growing derivatives business, with a focus on OTC derivatives. The candidate should either have experience in digital asset markets or in traditional financial markets and can easily adapt to the entrepreneurial, varied and highly dynamic nature of Wintermute's business, as well as to the challenges and opportunities specific to the cryptocurrency business. This role will work closely with the business (BD and traders), Risk and other legal team colleagues and will cover all jurisdictions where Wintermute and its counterparties are currently active. You will have the opportunity to shape the derivatives templates and approaches that best balance the business growth objectives and risk.
Key Responsibilities:
- Negotiate commercial derivatives agreements: draft and negotiate agreements in relation to our derivatives offerings (ISDA master agreements, schedules and credit support documents, tri-party collateral agreements and long form confirmations, and/or structure product trading agreements); coordinate input and decisions from various stakeholders and drive contracts to completion
- External negotiations: negotiate directly with counterparties and their counsel as required
- Derivatives regulatory compliance and research: do own research and work with external advisors as required to define the regulatory requirements for crypto derivatives in various jurisdictions
- Derivatives framework development: work with business and management stakeholders to develop a unique derivatives framework (templates, approaches, etc) that is best suited for Wintermute’s OTC derivatives business
- Advisory and implementation: Design solutions and implement advice in a way that is compliant and works for the company including business functions and other departments
- Other legal: get involved in projects outside of OTC derivatives based on personal professional development interests and company requirements
Hard Skills Requirements
- 3-7 years of experience practicing law (qualified) as a derivatives trading or markets lawyer at a top-tier law firm or as an in-house counsel for a firm or financial institution specialized in financial services, fintech and/or crypto;
- 3-7 years of experience negotiating ISDA and other OTC derivatives in a high performing setting and under tight deadlines, and advising on related regulatory issues pertaining to (crypto-underlying) OTC derivatives
- Experience with developing templates, internal guidelines, approaches to negotiations etc is highly preferred
- Understanding of regulatory frameworks and how they apply to OTC derivatives in various jurisdictions in traditional financial markets
- Experience with prime brokerage and cleared derivatives is highly desirable
- Having a flexible approach to thinking about how traditional concepts may apply to crypto, the differences in approaches and how different firms take different approaches to templates and negotiations
- Ability and interest to learn crypto aspects as well as other areas of law quickly, at least at a general level required for the role
- Proven ability to see the bigger picture and commercial strategy; quickly understand new functional areas and have a cross-functional mindset
- Ability to be nimble and apply legal concepts to problem-solve, especially in respect of novel issues
Join our dynamic team and benefit from:
- Working at one of the most innovative trading firms globally.
- Engaging projects offering accelerated responsibilities and ownership compared to traditional finance environments.
- A vibrant working culture with frequent team meals, holiday celebrations, gaming events, and company-wide outings, including our annual Wintermute weekend getaway.
- A Wintermute-inspired office in central London, featuring an array of amenities such as table tennis and foosball, personalized desk configurations, a cozy team breakout area with games and free food.
- Great company culture: informal, non-hierarchical, ambitious, highly professional with a startup vibe, collaborative and entrepreneurial.
- A performance-based compensation with a significant earning potential alongside standard perks like pension and private Health insurance.
Note:
- Although we are unable to accept fully remote candidates, we support significant flexibility in regards to working from home and working hours.
- We offer UK work permits and help with relocation
