Senior Inter-Dealer Broker in a Licensed Stockbroking and Dealing Firm

AI summary

Dicalo Consulting Group is recruiting a Senior Inter-Dealer Broker for a licensed stockbroking and dealing firm based on Lagos Island. The role involves proprietary trading on the FMDQ Exchange, focusing on fixed income, FX basis, and bond futures strategies. Full-time position reporting to the CEO, requiring an SEC-registered Dealing Clerk licence or eligibility to be sponsored.

• Build a proprietary trading desk from inception in a well-capitalised institution
• Focus on FGN bond futures arbitrage, FX basis trading, and yield curve strategies
• Must be familiar with FMDQ Exchange and Nigerian fixed income market
• SEC-registered Dealing Clerk licence or eligibility required
• Full-time role on Lagos Island, Lagos

Original source description

Senior Inter-Dealer Broker in a Licensed Stockbroking and Dealing Firm - Dicalo Consulting Group ⏲ Aug 3, 2026, 1:01 PM ⋕ View all Banking & Financial Services jobs Dicalo Consulting Group - Our client is one of Nigeria's most established and respected capital markets institutions, a licensed stockbroking and dealing firm with a multi-decade track record in securities dealing, asset management, and financial advisory. Headquartered on Lagos Island, the firm operates through an investment banking subsidiary with an active advisory and transaction arranger mandate across domestic and pan-African markets. The firm is in the process of perfecting its Inter-Dealer Broker (IDB) licence, which will position it as a principal intermediary in the Nigerian fixed income and foreign exchange inter-dealer markets , providing anonymous, real-time price discovery and execution services to Tier 1 and Tier 2 commercial banks, primary dealers, and institutional counterparties on FMDQ Exchange. They are recruiting to fill the position below: Job Title: Senior Inter-Dealer Broker Location: Lagos Island, Lagos Employment Type: Full-time Division: Proprietary Trading Desk Reporting To: Chairman & Group Managing Director/CEO Licence Requirement: SEC-registered Dealing Clerk or eligibility to be sponsored Job Summary The IDB Trader will be responsible for executing and managing proprietary trading positions across the firm's inter-dealer broker books, with a focus on FGN bond futures arbitrage, FX basis trading, yield curve positioning, and FX carry strategies. The role requires deep familiarity with the FMDQ Exchange ecosystem, Nigerian fixed income market microstructure, and derivative instrument pricing. This is a senior, high-accountability position. The trader will operate within defined risk limits, work directly with the CEO on strategy execution, and contribute to the build-out of the IDB trading infrastructure, systems, and counterparty relationships. The IDB Trader will be a founding member of the firm's proprietary trading desk , a rare opportunity to build a market-making and prop trading franchise from inception within a well-capitalised, senior-led institution. Responsibilities: Proprietary Trading & Execution Identify and exploit mispricings between OTC cash markets and exchange-traded derivative contracts Monitor real-time FMDQ Q-Nuggets data, NDF rates, settlement prices, and average daily turnover to inform position management Manage live positions across multiple prop books including FX Basis, Bond Futures Arbitrage, Yield Curve Steepener, and FX Carry strategies Execute inter-dealer trades across FGN bonds, FGN bond futures (BF02, BF10), NAFEX/FMDQ FX futures, and fixed income derivatives on FMDQ Exchange Market Making & IDB Facilitation: Facilitate client flow across FGN bond secondary market, FX spot, and futures instruments Build and maintain voice and electronic brokerage relationships with dealing desks at commercial banks, primary dealers, and asset managers Provide anonymous price discovery and order matching services to bank and institutional counterparties in the inter-dealer market Risk Management: Escalate limit breaches and exceptional market conditions to the CEO immediately Monitor DV01, duration, basis risk, and counterparty exposure in real time Maintain full audit trail and trade reconciliation for all executed transactions Operate within approved trading limits, position limits, and stop-loss thresholds as defined in the firm's Risk Framework Strategy & Reporting: Work with the CEO and advisory team to identify new alpha opportunities as market conditions evolve Support the build-out of IDB trading infrastructure including Bloomberg/Reuters terminal setup, FMDQ connectivity, and back-office reconciliation Contribute to weekly and monthly prop desk P&L reporting, attribution analysis, and position commentary Qualifications Essential: Minimum 5 years' trading experience: at a Nigerian commercial bank, primary dealer, stockbroking firm, or financial institution, with direct exposure to FGN bond secondary market or FX trading Familiarity with FGN bond futures (BF02/BF10) and FMDQ FX Futures pricing and basis dynamics Demonstrable experience: trading or pricing FGN bonds, Treasury Bills, and/or NAFEX/FMDQ FX products Strong understanding of FMDQ Exchange market structure, trading conventions, and settlement mechanics SEC registration as Dealing Clerk, or eligibility to be sponsored Bachelor's Degree in Finance, Economics, Accounting, or a quantitative discipline Preferred: Prior exposure to yield curve analysis, bond futures basis trading, or NDF/FX basis strategies Experience: at a CBN-licensed primary dealer (PD) bank — particularly in the fixed income or FX dealing room Hands-on experience: with Bloomberg Terminal, Reuters Eikon, or FMDQ trading platforms CFA charterholder or CIBN/ICAN membership Understanding of CBN monetary policy transmission, OMO operations, and their impact on fixed income pricing Skills: Ambitious — motivated by performance-linked compensation and the opportunity to build a franchise from inception. Numerically rigorous — comfortable with DV01, carry calculations, NPV, and basis pricing Decisive under pressure — able to execute and size positions quickly in fast-moving markets High integrity — the IDB function requires strict adherence to confidentiality and market conduct standards Collaborative — able to work closely with a small, senior team in a flat organisational structure Self-directed — able to manage a live book independently within defined risk parameters Benefits: Performance Bonus: Discretionary profit-sharing linked to prop desk net alpha — structured to align with long-term desk performance SEC Sponsorship: The firm will sponsor SEC Dealing Clerk registration where applicable Career Trajectory: Opportunity to grow into Head of Proprietary Trading as the IDB desk scales Professional Development: Support for CFA, CIBN, and relevant market certifications Base Salary: N500,000 – N1,000,000 / month; Competitive — commensurate with experience: and market benchmarks How to Apply Interested and qualified candidates should send their applications to: [email protected] using the job title as the subject of the email. Note Shortlisted candidates will be contacted for a structured interview process including a market knowledge assessment and a trading scenario exercise. All applications, enquiries, and expressions of interest should be directed to the agency. The identity of the hiring firm will be disclosed to shortlisted candidates only. This role is being managed exclusively by our recruitment partner. Application Deadline: 17th August, 2026. View all Jobs in Nigeria Lagos State and 1 other location Lagos State , Lagos Island