ETF Capital Markets Analyst

T. Rowe Price • Baltimore, NY

5d • Hybrid

About The Position

The ETF Capital Markets Analyst supports the ETF Capital Markets team in promoting efficient trading, liquidity, and primary and secondary market activity across T. Rowe Price’s ETF platform. The role serves as a resource for monitoring ETF market quality, supporting external ETF trading relationships, and responding to ETF trading and liquidity-related inquiries. The Analyst will monitor ETF trading and creation/redemption activity, maintain market surveillance and analytics, support new ETF launches, and assist with relationships across authorized participants, market makers, exchanges, trading desks, and other ETF ecosystem partners. This role will work closely with ETF Capital Markets team members and internal partners across Distribution, Operations, Trading, Portfolio Management, Product, Legal, and Compliance.

Requirements

• Bachelor's degree or equivalent combination of education and relevant professional experience.
• 3+ years of relevant experience in financial services, asset management, trading, capital markets, investment operations, or a related function.
• Understanding of ETFs, financial markets, and trading concepts.
• Experience with Bloomberg and/or other investment and ETF data platforms.
• Strong written and verbal communication skills.
• Strong organizational and time-management skills with the ability to manage multiple priorities.
• Ability to analyze complex information, identify relevant issues, and communicate findings clearly.
• Ability to work effectively both independently and within a collaborative, cross-functional team environment.

Nice To Haves

• ETF capital markets or ETF trading experience strongly preferred.
• Understanding of ETF product structure, primary and secondary market mechanics, creation/redemption processes, baskets, liquidity, and trading.
• Familiarity with key participants in the ETF ecosystem, including authorized participants, market makers, exchanges, custodians, and trading desks.
• Experience analyzing ETF spreads, premiums/discounts, volumes, liquidity, and other market quality metrics.
• Familiarity with ETF market structure and relevant regulatory considerations.
• FINRA Series 7 and 63 preferred or ability to obtain as required.

Responsibilities

• Monitor trading activity, liquidity, spreads, premiums/discounts, volumes, and other market quality indicators across T. Rowe Price ETFs.
• Conduct ongoing analysis of primary and secondary market activity to identify trends, potential issues, and opportunities to improve ETF trading and liquidity.
• Develop and maintain market surveillance tools, dashboards, databases, and recurring ETF capital markets reporting.
• Monitor ETF creation/redemption activity, basket activity, and authorized participant engagement.
• Analyze competitor ETFs and broader market activity to provide context on trading and liquidity trends.
• Escalate time sensitive issues and situations to senior ETF Capital Markets team members as appropriate.
• Support day-to-day interactions with authorized participants, market makers, institutional sales and trading desks, exchanges, wealth execution platforms, and other ETF capital markets partners.
• Assist the Capital Markets team in monitoring market maker and authorized participant activity and engagement.
• Support onboarding and ongoing coordination with ETF liquidity providers.
• Assist with coordination related to create/redeem activity, basket questions, client facilitation, and other trading-related matters.
• Support efforts to enhance the ETF primary market platform and authorized participant experience.
• Monitor creation/redemption activity and help identify trends or issues requiring attention and follow-up.
• Assist with authorized participant onboarding, documentation, testing, and ongoing platform support.
• Assist with operational and technology initiatives designed to improve ETF trading and primary market processes.
• Support Distribution with ETF trading, liquidity, and capital markets-related inquiries.
• Provide trading and liquidity analysis to support institutional and intermediary client conversations.
• Assist senior ETF Capital Markets team members with preparation and follow-up for client and trading partner meetings.
• Prepare ETF trading analytics and supporting materials for client, ETF business, and internal discussions.
• Support capital markets readiness for new ETF launches, including coordination with authorized participants, market makers, exchanges, operations, portfolio management, and other internal partners.
• Monitor trading and liquidity following ETF launches and provide relevant analysis to the Capital Markets team and key stakeholders.
• Work with Distribution, Operations, Trading, Portfolio Management, Product, Legal, and Compliance on ETF-related initiatives and day-to-day activity.
• Monitor relevant ETF market structure, trading, regulatory, and industry developments.
• Support research and analysis related to changes affecting ETF trading and the broader ETF ecosystem.
• Assist with ETF governance, compliance, and oversight requirements.
• Maintain internal reporting, databases, and ETF analytics tools.
• Help prepare materials and analysis for internal governance and business reviews.

Benefits

• Competitive compensation
• Annual bonus eligibility
• A generous retirement plan
• Hybrid work schedule
• Health and wellness benefits, including online therapy
• Paid time off for vacation, illness, medical appointments, and volunteering days
• Family care resources, including fertility and adoption benefits

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level