Senior Specialist – Energy Commodities Trading and Analysis (International Markets – Americas Focus)

Senior Specialist – Energy Commodities Trading and AnalysisCommodities mandate across energy, agriculture and metals — international markets with an Americas focus (management grade)Full-time (100%, 40 hours/week) · Permanent · On-site in Lugano · Start: 1 January 2027 or by agreementApplication deadline: 18.10.2026The companyBulk Trading Gas & Power SA — Lugano, SwitzerlandA company of Bulk Trading GroupOur activity spans the commodity spectrum — energy (natural gas and LNG, power, carbon, coal and oil), agricultural products and metals — with an integrated reading of the price relationships between markets. The desk is active on the European commodity markets and is extending its activity to international markets, with particular focus on the Americas.This is a recently established and growing operation. We are looking for someone able not just to trade, but to build: models, tooling, processes and the desk's research capability.The roleReporting to the Head of Gas & Power Desk, you will own a proprietary trading book, the desk's coverage of international markets and the development of its analytical capability. The role carries management grade. The core of the activity sits in gas and emissions, where the desk's strategy is built on arbitrage between the European and US markets.Trading and risk

• Run a proprietary book with a mandate spanning commodities — energy (natural gas TTF and Henry Hub, LNG, power, carbon, coal and oil), agricultural products and metals — against assigned P&L targets and risk limits; the core of the activity sits in gas and emissions.
• Operate both discretionary-fundamental and systematic strategies, taking into production those that clear the backtesting stage.
• Own the cross-commodity relationships that drive gas and power prices: coal switching (substitution between coal and gas in power generation), clean spark and clean dark spreads, oil indexation of long-term LNG contracts.
• Contribute to the desk's risk framework, procedures and limits.Fundamental analysis and modelling
• Own the coverage of the energy markets of the Americas, integrating it with the European view into a single cross-market reading: - United States — regional balances, transport constraints and locational basis, and the functioning of the wholesale markets; - Latin America, Brazil first and foremost — hydro-dominated power systems, hydrology, short-term price formation and the regulatory set-up of the local markets.
• Build and maintain supply & demand balances for Europe, Asia, global LNG and the United States, including the US power balance and the coal-switching model.
• Build and maintain hydro, wind and solar generation and load models for the Latin American countries covered by the desk.
• Own weather monitoring across the covered markets and feed its effects into balances, scenarios and trading signals.
• Own the fundamental price models, the scenario engine and probabilistic price forecasting for EU/US gas; for EU ETS, modelling of the Total Number of Allowances in Circulation (TNAC), which governs the Market Stability Reserve.
• Generate trade ideas and fundamental, micro and geopolitical research.Tooling, data and technology
• Design and productionise the desk's proprietary tooling — monitoring decks, automated reporting, scenario engine — usable across the team.
• Design, implement and productionise the backtesting infrastructure and the data pipelines behind the research.
• Automate market and fundamental data acquisition and processing, including automated news and sentiment analysis, feeding it into the research workflow.
• Use AI-assisted development tooling in day-to-day modelling and automation work.Building the function
• Lead and grow the desk's quantitative research capability, coordinating the resources progressively assigned to it and setting its methods and standards.
• Contribute to launching new trading verticals within the desk.Essential requirements1. University degree in engineering, computer science, mathematics, physics, statistics or another quantitative discipline, completing a course of study of at least five years in total (Master's degree, integrated five-year degree, or equivalent foreign qualification).2. At least 8 years of continuous professional experience in quantitative roles at investment banks, hedge funds or trading houses, including at least 6 years in energy commodity research and trading, with documented progression into positions of responsibility.3. Live, verifiable track record of at least 24 months of discretionary trading with direct book and P&L responsibility, run simultaneously on TTF and Henry Hub, completed by the start date. Non-negotiable: the desk's strategy is built on arbitrage and cross-market reading between Europe and the United States.4. Americas energy markets focus (non-negotiable): hands-on trading and research experience across the energy markets of the American continent — US gas and power and Latin American power/gas markets — with direct knowledge of the respective regulatory frameworks, dispatch mechanisms and price formation, and proven ability to build supply and demand balances for US gas and power and to model hydro, wind and solar generation and load curves for LATAM countries.5. Emissions, LNG and the energy complex: documented hands-on experience on the EU ETS (EUA) market and on LNG markets (incl. JKM), together with a working command of the cross-commodity relationships between gas, power, coal and oil — coal switching, clean spark and clean dark spreads, oil indexation of LNG contracts.6. Ability to build, not only to operate (non-negotiable): proven experience building from scratch the analytical apparatus of a trading vertical — S&D balances, fundamental price models, scenario engines, weather monitoring and monitoring decks — for EU/US gas and for EU ETS. This is a recently established desk: we are looking for someone who has already done this, as the first or one of the first hires of a comparable operation.7. Dual operating mode: ability to develop and run both discretionary-fundamental and systematic strategies, with backtesting and production deployment experience.8. Quantitative and technical skills: advanced Python and SQL; machine learning and statistical inference applied to time series; systematic backtesting; design and production deployment of data pipelines and backtesting infrastructure on cloud platforms. Knowledge of other scientific languages and prior production coding experience welcome.9. Recognised quantitative certification: CQF, FRM, CFA or equivalent, covering derivatives pricing, risk management and financial modelling.10. Professional tools: command of the main financial terminals, market data providers and trading platforms, including the ability to access them through their APIs to automate analysis and reporting.11. Leading quantitative research: experience coordinating a quantitative research team or research stream, with ownership of method, standards and production deployment of the output.12. Network: an established, active network of international financial counterparties (investment banks and brokers) in gas and emissions markets.13. Multilingual profile (non-negotiable) — command of several working languages, specifically:
• English, fluent written and spoken — the working language of the desk and of international financial counterparties;
• Portuguese, fluent written and spoken — indispensable for the Brazilian energy market coverage required under point 4: the operational, regulatory and market documentation of Latin American power systems, Brazil first and foremost, is published by the local bodies in Portuguese only, with no official English versions, and day-to-day dialogue with local operators, brokers and counterparties is conducted in Portuguese.14. Availability to work on-site in Lugano on a permanent basis.DesirableSpanish, to extend coverage to the other Latin American energy markets; direct trading or research experience in power, coal or oil (Brent, WTI); development and backtesting of systematic weather-driven strategies on Henry Hub; systematic multi-factor signals on equity markets and portfolio optimisation; fundamental modelling on agricultural commodities (productivity and yield models); large-scale data engineering (data lakes and pipelines built from scratch) and data science products — scoring, recommendation systems, churn models, NLP sentiment analysis — transferable to news and market-flow analysis; entrepreneurial or co-founding experience in technology ventures. Knowledge of Italian is not required — the working languages are English and Portuguese.What we offer
• Permanent contract under Swiss law, 40 hours per week, based in Lugano.
• Gross annual salary of CHF 130,000 (13 monthly instalments), plus a variable performance bonus linked to the book's results.
• 20 days of holiday; Swiss social insurance and occupational pension (AVS/AI, LPP, ALV, LAINF).
• Lump-sum relocation allowance.
• A trading mandate spanning commodities, direct ownership of a proprietary book and the prospect of building the desk's research capability.How to applySend your CV (English or Italian) and a cover letter explicitly evidencing the track record required under point 3, the Americas experience under point 4, the building capability under point 6 and the level of each working language (period, hubs and markets covered, book and P&L responsibility, models and tooling delivered) to backofficegp@bulktrading.ch, subject "Senior Specialist Energy Commodities Trading & Analysis — Lugano", by 18.10.2026.Applications are reviewed on a rolling basis. Only applications meeting all essential requirements will be considered. Bulk Trading Gas & Power SA assesses all applications without discrimination.