Nodal Trader
About us: Active Power Investments LLC is looking for bright individuals to join our team of traders, who are developing strategies and models, which they use for trading in various Independent System Operator (ISO) markets, such as CAISO, ERCOT, MISO, NYISO, PJM, and SPP, and on exchanges, such as ICE and CME, which offer related energy and commodities products. We trade virtual transactions (VTs), participate in Financial Transmission Rights (FTRs) / Congestion Revenue Rights (CRRs) auctions and in related energy trading of electric power and natural gas futures and exchange-traded derivatives. We have a flexible and distributed working environment, combining office and remote work, to maximize each individual’s potential. About you: You are motivated by the opportunity for professional growth in a multi-disciplinary and fast-paced environment. You are excited about the challenges of a cutting-edge energy and commodities trading business. You find satisfaction working for an energy trading company intensely focused on searching for and finding opportunities in the variety of energy and commodities markets. You rise to the challenge of executing complex tasks necessitated by constantly changing market conditions. You have the tenacity to follow a set of complex controls that insure smooth trade execution and proper risk management.
Requirements
You may significantly contribute to any of the following -
- Improve the performance of the current Point-to-Point Obligation Bid (PTP) and daily spread trading program in terms of both profitability and volume, while complying with the Company’s risk metrics.
- Advance the virtual trading of supply (INCs) and demand (DECs) based on fundamentals such as weather patterns, load, unit outages, and transmission outages.
- Construct profitable FTR/CRR portfolios, both monthly and longer term.
- Develop the power flow simulator based analysis programs for trading PTPs, VTs, and FTRs / CRRs.
- Complement the nodal trading with trading natural gas and electric power futures and other exchange-traded derivatives on commodity exchanges.
- Make sure that any such trading respects risk limits.
- Assist with improving the current risk metrics to be as accurate as possible in capturing risks inherent in nodal and futures / options trading.
- Assess and report on the effectiveness of our current risk measurement and management procedures.
- You are expected to be able to independently run a profitable trading book, net of all the relevant expenses (aka seat costs).
Your Skills include a number of the following:
- Ability to work as part of a team as well as independently with multiple projects under tight deadlines.
- Excellent written and verbal communication skills.
- Direct experience with the nodal markets and/or futures markets.
- Understanding of the ISO transmission systems.
- Knowledge of the ISO supply stacks.
- Experience with power flow simulation in PowerWorld or a similar tool.
- Experience with the analysis of supply and demand in the ISO and futures markets.
- Experience with producing or ability to utilize short-term and long-term price forecasts of natural gas and electricity prices at various settlement points for profitable trading.
You also may have:
- Programming experience in either of VBA, C#, Matlab, Mathematica, SQL, R, Python.
- An advanced degree in Electrical Engineering, Statistics, Financial Engineering, Finance, Mathematical and Computational Finance, Economics, or other similar quantitative discipline.
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