China Rates Trader

An HK-based financial institution seeks a China Rates Trader (Assistant to AVP) in Kowloon to manage a proprietary book focused on onshore China rates (bonds, swaps) and FX, executing trading strategies while collaborating across the business.

Key responsibilities:

As China Rates Trader, you will manage onshore China rates and FX trading (bonds, NCDs, swaps), execute strategies, identify CNY–CNH arbitrage opportunities, and monitor risk using Murex MX.3 while collaborating with sales and global teams.

• Execute proprietary directional, curve, and relative value trading strategies across onshore China rates including China Government Bonds (CGBs), Policy Bank Bonds, and NCDs
• Trade and manage risk in interest rate derivatives such as Interest Rate Swaps (IRS) (e.g. FR007, Repo Swaps), Cross-Currency Swaps, and Bond Forwards
• Identify arbitrage and basis opportunities between onshore (CNY) and offshore (CNH) markets, including cash-vs-derivatives mispricing
• Perform macro and liquidity analysis on PBoC policy, RRR/LPR changes, and market conditions to guide trading decisions
• Monitor P&L and risk metrics (VaR, DV01) via Murex MX.3 while collaborating with Treasury Sales and Head Office on market insights and liquidity management

Candidate profile:

To excel in this role, you will bring strong onshore China rates trading experience, proficiency in Murex MX.3, fluency in Mandarin and English, and the ability to apply macro analysis, risk management, and cross-team collaboration to drive trading performance.

• 3–7 years of experience in rates or fixed income trading, ideally with a strong track record in onshore China markets
• Proficient in Murex (MX.3) for trade booking, valuation, and risk monitoring, with solid Bloomberg proficiency for market analysis
• Fluent in Mandarin and English to effectively engage with onshore counterparts and interpret regulatory documentation

About the company:

A well-established international financial institution with a strong presence in Asia provides a collaborative environment where market professionals work on complex cross-border products and evolving financial markets. The organisation invests in advanced trading infrastructure, continuous learning, and flexible working practices to support long-term growth and high-performance teams.

Keywords: China rates trading, FX, trading strategies, Murex, risk management, financial services

What’s next?

Shape the future of China rates trading—trade strategically, collaborate globally, and accelerate your career growth!