Government Fixed Income Trader

Salary: $95,000 - $125,000

Overview

Canaccord Genuity is seeking a motivated Government Trader for our Fixed Income team in Toronto. The role will be responsible for market‑making, risk management, and client execution across Government of Canada securities, including nominal bonds, treasury bills and related derivatives.

Responsibilities

• Provide competitive two‑way pricing in Government of Canada bonds and T‑bills.
• Execute client trades across institutional accounts, such as asset managers, pensions and hedge funds.
• Manage dealer‑to‑dealer flows and electronic trading platforms (e.g., CanDeal, BrokerTec).
• Manage inventory and risk across the Government of Canada curve; monitor and control DV01, curve risk and basis exposures.
• Actively hedge positions using cash, futures, and repo markets.
• Identify and execute relative value trading opportunities, including curve trades, asset swap spreads, cash vs. future basis, switches and butterfly trades.
• Coordinate with the repo desk to optimize funding of positions.
• Understand specials, fails, and collateral dynamics on the Canadian repo market.
• Stay current on macroeconomic developments, Bank of Canada policy, and auction cycles.
• Contribute to trade ideas and market colour for sales and clients.
• Support sales coverage with pricing, liquidity, and trade ideas.
• Maintain strong relationships with institutional clients.
• Ensure adherence to CIRO rules and internal risk limits.
• Maintain proper trade documentation and reporting standards.

Qualifications

• 3–7 years experience in fixed‑income trading, preferably in Canadian government bonds.
• Completion of or progress towards the Canadian Securities Course (CSC), Canadian Practices Handbook (CPH) and Derivatives Fundamentals Course (DFC) preferred.
• Strong understanding of Government of Canada bond market structure, interest rate derivatives (futures, swaps), repo and funding mechanics.
• Experience with electronic trading platforms such as CanDeal and BrokerTec.
• Demonstrated risk‑management discipline.
• Strong quantitative and analytical skills.
• Familiarity with pricing models, yield curve construction, and relative value analytics.

All applications will be held in strict confidence. Candidates selected for interviews must show proof of citizenship, permanent residence, or eligibility to work in Canada with no restrictions.