Product Manager, Clearing

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In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. For more information on Bullish, please visit https://bullish.com . CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.

Reports to:

Head of Product

Position Overview
We are seeking a passionate and experienced Product Manager to join the Bullish Product Management team. You will be instrumental in defining the execution and launch of our US regulated derivatives business (FCM, DCM, DCO) and associated products.

Your role will focus on the development of sophisticated trading and clearing solutions required to stand up a regulated Futures Commission Merchant (FCM), Designated Contract Market (DCM), and Derivatives Clearing Organization (DCO). This includes the integration of US-specific trading workflows, the implementation of regulatory reporting models, and the enhancement of our risk management capabilities for perpetual futures, dated futures, and options.

Your expertise will drive the evolution of our US platform, ensuring excellence in innovation, user experience, and strict compliance with CFTC regulatory standards.

This position is an excellent opportunity for someone with an entrepreneurial spirit that is passionate about building innovative products, specifically bridging the gap between traditional regulated market structures and the digital asset space.

Responsibilities: 

• Help to craft and implement a strategic vision for our US derivatives offering, with a particular focus on the lifecycle of a trade across FCM, DCM, and DCO stacks.

• Define & monitor product success metrics for regulated futures and options products.

• Provide detailed feedback on the technical development of the US platform, including the design of regulatory compliant matching engines, segregation of customer funds workflows, and clearing/settlement logic.

• Collaborate with Engineering, Quant, Risk, Legal, Compliance, and Operations teams to ensure the technical reliability, scalability, and regulatory alignment of our trading platform.

• Act as the bridge between technical teams and regulatory requirements, ensuring that products are built to satisfy obligations for a US regulated entity (e.g., CFTC Parts 1, 38, 39).

• Utilize quantitative skills to assist in the integration of financial models for initial margin, variation margin, and stress testing, ensuring our DCO capabilities offer sophisticated risk management.

• Perform in-depth market analysis of the US derivatives landscape (both traditional and crypto-native) to identify trends and competitive advantages.

• Advocate for an exceptional user experience, ensuring that our trading products are accessible to US institutional clients while maintaining the robust controls required by regulators.

• Maintain a deep understanding of the regulatory landscape affecting digital asset trading in the US, ensuring that all products comply with local financial regulations and industry standards.

• Create, support and monito