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ICME · 7 hours ago

Execution & Market Structure Lead

San Francisco Bay Area

Full-time

Onsite

Mid, Senior Level

$120K/yr - $180K/yr

ICME is building a compliant trading market for pre-IPO equities, aiming to deliver institutional grade execution and transparent pricing. The Execution & Market Structure Lead will own execution quality, build market health metrics, and collaborate with product and engineering teams to enhance trading processes.

Computer Software

Responsibilities

Own execution quality end-to-end: pricing, fills, slippage, spreads, liquidity, and “best outcome” metrics

Build and monitor market health metrics: depth, volatility, toxicity/adverse selection, maker/taker behavior, and concentration risk

Own the market’s unit economics: take rates, fees, rebates, liquidity incentives, inventory/risk costs, and cost-to-serve

Design quoting / market making partnerships and liquidity programs (and potentially run internal liquidity where appropriate)

Work closely with product + engineering on matching, pricing logic, controls, and measurement

Partner with legal/compliance on private-securities constraints: transfer limits, eligibility, disclosures, approvals

Coordinate with custody/transfer agent/cap-table workflows so trades settle cleanly and ownership stays correct

Qualification

Market microstructureEquities/options executionPrivate-securities realitiesP&L / unit economicsData + modeling skillsClear communicator

Required

Deep understanding of market microstructure: spreads, order books, auctions, RFQ, liquidity, and adverse selection

Experience building or running markets in at least one of: Equities/options execution, market making, or HFT; Exchanges / ATS / dark pools / RFQ venues; Private markets / secondaries / structured products

Strong grasp of private-securities realities: transfer restrictions, eligibility, accredited/qualified checks (as relevant); issuer approvals / ROFR processes (when they exist); cap table / transfer agent concepts (who updates what, when)

Comfort owning P&L / unit economics: fee design, incentives, liquidity programs, partner pricing

Strong data + modeling skills (SQL + Python preferred; strong spreadsheets acceptable)

Clear communicator who can explain fills, pricing, and risk in plain English