Financial Economist

About The World Federation of Exchanges

The World Federation of Exchanges (The WFE) is the global industry body for exchanges and clearing houses. Headquartered in London, established in 1961, we represent over 250 market infrastructure providers around the world, including standalone CCPs that are not part of exchange groups.

WFE members include stock, derivative, and commodity exchange groups globally, ranging from the Nasdaq, CME Group, Deutsche Boerse AG, and HKEX; to Brazil’s B3, SGX and the Colombo Stock Exchange. We also represent standalone CCPs, such as the DTCC and the Options Clearing Corp, alongside those operated by our member exchanges.

About the role

Reporting to the Head of Research, you will work with a team of economists and researchers to develop innovative research ideas and to conduct and publish in-depth financial research to answer pressing policy questions that are relevant for the industry today. Current research areas include market microstructure, the industrial organisation of the exchange and clearing industry, the impact of technological innovation, and the role of exchanges in promoting sustainability and contributing to economic growth.

This is a new role at the WFE, where the current Research team comprises four PhDs in Economics or Financial Economics plus a manager for the WFE database.

You will need to think critically about research questions and policy, as well as work effectively with other industry professionals and leading academics from the UK and overseas.

The research we do spans both industry and the academic community and is expected to lead to publications in academic journals in addition to pioneering new thinking and action in market infrastructure.

Working closely with the WFE Regulatory Affairs team you will also liaise with policy experts, regulators, and industry participants to inform WFE advocacy and policy positions.

The WFE’s mandate spans both market development, advocacy, and policy; and research topics cover developed, emerging, and frontier markets.

Deliverables

• Identify economic issues and research questions relevant to the industry

• Planning and executing projects related to WFE responsibilities for data collection, analysis, research, and advocacy.

• Applying statistical, econometric, and other data exploration tools to analyse financial data.

• Provide research expertise to inform WFE policy discussions.

• Producing high quality reports for internal and external dissemination, as well as peer-reviewed academic research publications.

What you bring

• Candidates will hold a PhD in Economics, Finance, Statistics, or other relevant discipline and have a genuine interest in policy issues.

• Excellent knowledge of the financial markets and of the exchange and post-trade industries.

• Excellent communication skills in English, both verbal and written, at the standard required for professional publication.

• Programming skills (Matlab, Python, or R preferred).

Candidates will ideally also possess expertise in one of the following areas:

• Econometrics and mathematical methods in finance

• Financial economics

• Industrial organization

• Environmental economics (e.g., sustainability in financial markets, green finance, carbon markets).

• FinTech

Previous experience as a researcher in a policy, government, industry association or thinktank environment related to financial markets, is an advantage.

Application process

To be considered for the role, please apply through EconJobMarkets website at https://econjobmarket.org/positions/10241, providing:

• A cover letter which includes a brief statement of current and future research interests

• Your CV

• Your job market paper

• Two letters of reference

Review of applications will begin on December 4, 2023, and applications will be accepted until the position is filled.

Interviews will take place also (but not exclusively) at the European Job Market for Economists (EJME 2023) that will be held virtually between 11 and 14 December 2023.

Selection process

We will conduct an initial screening based on the applicant materials. Candidates who are successful in meeting the initial criteria may receive an invitation to participate in a video interview with the Head of Research. Following a video interview, some candidates will receive an invitation for further in-person/online interviews with the Senior Management team.

Further Information:

• Location: City of London. The WFE operates a hybrid working policy with a minimum of 2 days in the office with 3 days at the employee’s discretion.

• Start Date: As soon as possible.

• Time commitment: Full time, permanent

• Compensation: Competitive, dependent on skills and experience

Please note that we envisage a high number of applications and therefore only candidates of interest shall be contacted.

The WFE is an equal opportunities employer and welcomes applications from all suitably qualified persons regardless of their race, sex, disability, religion/belief, sexual orientation, or age.

ALL APPLICATIONS WILL BE TREATED IN STRICT CONFIDENCE.