Job Description

About Wintermute

Wintermute is one of the largest crypto-native algorithmic trading companies in digital assets. We provide liquidity across most cryptocurrency exchanges and trading platforms, offer a broad range of OTC trading solutions, and support high-profile blockchain projects and traditional financial institutions venturing into crypto. Wintermute also operates Wintermute Ventures, investing in early-stage DeFi projects.

Founded in 2017, Wintermute has successfully navigated industry cycles by blending the technology standards of high-frequency trading firms in traditional markets with the innovative culture of tech startups. At Wintermute, we see digital assets as more than just another asset class; we believe in the transformative potential of blockchain and are committed to fostering a compliant and innovative market.

Nature of the Role

We are seeking a Legal Counsel - Derivatives to support Wintermute’s rapidly growing derivatives business, with a strong focus on OTC derivatives. The ideal candidate should have experience in either digital asset markets or traditional financial markets and be adaptable to the varied and dynamic nature of Wintermute’s business. This role involves close collaboration with the business development and trading teams, risk department, and other legal colleagues, covering all jurisdictions where Wintermute and its counterparties operate. This position offers the opportunity to shape derivatives templates and approaches that balance business growth with risk management.

Key Responsibilities

• Negotiate Commercial Derivatives Agreements: Draft and negotiate agreements related to our derivatives offerings (e.g., ISDA master agreements, schedules, credit support documents, tri-party collateral agreements, long form confirmations, structured product trading agreements); coordinate input from stakeholders and drive contracts to completion.
• External Negotiations: Directly negotiate with counterparties and their counsel as needed.
• Derivatives Regulatory Compliance and Research: Conduct research and collaborate with external advisors to define regulatory requirements for crypto derivatives across various jurisdictions.
• Derivatives Framework Development: Collaborate with business and management stakeholders to develop a derivative framework (templates, approaches, etc.) tailored for Wintermute’s OTC derivatives business.
• Advisory and Implementation: Design and implement compliant solutions that work for the company, including various business functions and departments.
• Other Legal Involvements: Engage in projects outside of OTC derivatives based on personal professional development interests and company needs.

Hard Skills Requirements

• 3-7 years of experience practicing law (qualified) as a derivatives trading or market lawyer at a top-tier law firm or as in-house counsel in firms specializing in financial services, fintech, and/or crypto.
• 3-7 years of experience negotiating ISDA and other OTC derivatives in high-performance settings under tight deadlines, advising on related regulatory issues with (crypto-underlying) OTC derivatives.
• Expertise in developing templates, internal guidelines, and negotiation strategies are highly preferred.
• Understanding of regulatory frameworks applicable to OTC derivatives across different jurisdictions in traditional financial markets.
• Experience with prime brokerage and cleared derivatives is highly desirable.
• Flexible approach to applying traditional concepts to crypto and understanding different approaches to templates and negotiations across firms.
• Ability and interest to quickly learn about crypto aspects and other legal areas as required by the role.
• Proven ability to see the bigger picture and commercial strategy, understanding new functional areas quickly, and having a cross-functional mindset.
• Ability to be agile and apply legal concepts to problem-solving, especially regarding novel issues.

What’s in It for You

• Work at one of the most innovative trading firms globally.
• Engage in projects offering accelerated responsibilities and ownership compared to traditional finance environments.
• Enjoy a vibrant working culture with team meals, holiday celebrations, gaming events, and company-wide outings, including the annual Wintermute weekend getaway.
• Experience a Wintermute-inspired office in central London with amenities like table tennis and foosball, personalized desk configurations, a cozy team breakout area with games, and free food.
• Benefit from a great company culture: informal, non-hierarchical, ambitious, highly professional with a startup vibe, collaborative, and entrepreneurial.
• Performance-based compensation with significant earning potential, alongside standard perks like pension and private health insurance.

Additional Information

Although we cannot accept fully remote candidates, we support significant flexibility regarding working from home and working hours. We also offer UK work permits and assistance with relocation.