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ERCOT Power Trader

Houston, Minneapolis

Join Macquarie’s Power Trading team as a senior ERCOT power trader in either our Houston or Minneapolis Office. 

In this role, you will be centered on trading near to mid-term markets (inside of 36 months), with a focus on Fixed Price, Heat Rate, Zonal Basis and CRR markets. You will work closely with other commercial groups within Macquarie including the origination group, regional desks and the real time desk.  The position will also work closely with regulatory affairs to understand and develop positions based on all relevant market rules.  

Key duties and responsibilities:

  • Short term ERCOT trading including Bal-day, weekly and Bal-month markets.
  • Term trading including, but not limited to Fixed Price, Heat Rate, and Zonal Basis markets.
  • Develop and implement a statistical based model correlating supply and demand to price in order to increase the probability of successful trading in the Bal-day and Next day markets.
  • Identify opportunities for speculative CRR and DAM PTP trades by assessing the performance of the electric grid in the near and long term. Develop fundamental congestion and bidding/trading strategies by performing Powerflow analysis.
  • Work closely with the origination and sales teams to effectively price and hedge structured transactions. Successfully incorporate those transactions into a profitable trading portfolio.  
  • Incorporate data science into creating statistical models and algorithms that provide trade signals which will drive trading strategy and commercial decisions.  Understand and maintain in house models to ensure continuity on the desk. 
  • Manage risk in accordance with the overall ERCOT portfolio.

You will bring to this role:

  • Bachelor’s degree in Mathematics, Engineering, Economics, Finance or a quantitative analysis field.
  • A strong historical track record of generating revenue in the short term ERCOT markets.
  • Minimum of three years of experience trading ERCOT power markets as well as CRR and virtual markets.
  • Experience with Optimal Power Flow (OPF) models or electricity market simulation tools is preferred.
  • Experience communicating with diverse teams including traders, schedulers and risk officers and data scientists.
  • Programming skills including, but not limited to, SQL, R, Python, VB, and Java preferred. 
  • Excellent knowledge of data models and data management required. 
  • Strong quantitative and research skills.

About Commodities and Global Markets

Commodities and Global Markets provides clients with an integrated, end-to-end offering across global markets including equities, fixed income, foreign exchange and commodities.  We are a market leader in the environmental products space, having been awarded the 2020 Environmental Products Bank of the Year by Risk Magazine.

Our commitment to Diversity and Inclusion 

Macquarie understands the importance of diversity and inclusion - our long history of success has come from being different. At Macquarie we value the innovation and creativity that diversity of thought brings. The one thing we all have in common is our focus on high performance. If you're capable, motivated and can deliver, we want you on our team.

Macquarie is an equal opportunities employer and does not discriminate on the grounds of age, disability, sex, sexual orientation, gender reassignment, gender identity, marriage, civil partnership, pregnancy, maternity, race (including colour and ethnic or national origins), religion or belief.

We recognise that flexibility comes in a variety of forms. Talk to us about what flexibility you need.

#LI-AMERICAS

 

About Macquarie

A career at Macquarie means you’ll have the opportunity to develop and utilise new skills, explore interesting fields and do challenging work that will impact the lives of people around the world—whether it’s accelerating the green energy transition, helping sustain global food supplies, financing social housing projects or investing in essential infrastructure. At Macquarie, we’re empowering people to innovate and invest for a better future.

Our size and international presence means your work can take you anywhere—across business groups, disciplines, sectors and borders. With 16,300+ employees and offices in 31 markets around the world, we’re a truly global organisation.

You’ll be supported by a diverse team where the unique perspectives, ideas and experiences that all of our people bring are valued. You’ll be empowered to address unmet needs in our communities whilst advising and investing alongside our clients and partners. Working with us, you’ll have the opportunity to make a difference.

Macquarie is a global financial group providing clients with asset management, retail and business banking, wealth management, leasing and asset financing, market access, commodity trading, renewables development, specialist advisory, capital raising and principal investment.

Find out more at www.macquarie.com/careers

Job no: CGM-958054
Work type: Permanent - Full time
Location: Houston, Minneapolis
Category: Senior, Trading
Group: Commodities and Global Markets
Division: Commodity Markets and Finance
Recruiter: Danielle Scaife
Opening Date: