Nodal Trader

Active Power Investments

4d • Hybrid

About The Position

Active Power Investments LLC is seeking motivated individuals to join our team of traders. This role involves developing and implementing trading strategies and models for various Independent System Operator (ISO) markets (e.g., CAISO, ERCOT, MISO, NYISO, PJM, SPP) and exchanges (e.g., ICE, CME). The trading activities include virtual transactions (VTs), Financial Transmission Rights (FTRs) / Congestion Revenue Rights (CRRs) auctions, and trading electric power and natural gas futures and exchange-traded derivatives. The company offers a flexible and distributed working environment, combining office and remote work, to foster individual potential.

Requirements

• 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.

Nice To Haves

• 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.

Responsibilities

• 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.
• Independently run a profitable trading book, net of all the relevant expenses (aka seat costs).

What This Job Offers

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