Execution Trader

FRGM Capital

Remote - India preferred | 3-month trial internship | Potential full-time conversion after performance review

About FRGM Capital

FRGM Capital is a trading operation combined with a global macro research division. Our team includes traders, researchers, and developers working across quantitative research, market analysis, and trading technology.

We are hiring an Execution Trader to execute the firm's trades in live markets. The role is hands-on and collaborative, with direct interaction with the traders, researchers, and developers whose signals, models, and systems you will trade with every day.

The Environment

FRGM is a fast-paced environment. We work as a tight-knit team, and every one of us carries real ownership and accountability for our work. This role in particular calls for someone who is highly proactive and can think on their feet.

We're a meritocracy. The best idea wins, no matter who it comes from. For the right person, that means real intellectual upside: you'll work on hard problems, your thinking will shape how we trade, and you'll grow fast. The financial upside follows from that.

The wrong person will not do well here, and we'd rather be upfront about that now.

Internship Structure

The role will begin as a three-month internship. At the end of the period, we will review performance, contribution, and mutual fit to determine whether to offer a full-time position. We are looking for someone with a genuine passion for markets and strong fundamentals who can contribute while learning our systems, market context, and working practices.

Who You Are

You eat, drink, breathe, and sleep markets. Trading isn't a career option you settled on. It's what you want to do, and you've known it for a while.

· You follow global macro because you can't help it: central banks, rates, FX, commodities, equities, and how they move each other.

· You know what's on this week's economic calendar and have a view on what the next CPI print or Fed decision means for markets.

· You check the markets before you check your messages, and you think about them when no one is paying you to.

· You can show it: a personal or paper trading account, trading competitions, a market journal, an investment club, or your own writing and research on markets.

· You want to learn the craft properly: how orders interact with the book, why a fill was good or bad,



and how to do better tomorrow.

What you'll do

Execution

· Execute the firm's trades in live markets, choosing order type, timing, and size to achieve the best available price.

· Decide when to cross the spread and when to work a limit order, based on liquidity, volatility, and urgency.

· Manage execution around liquidity events: the open and close, economic data releases, central bank decisions, holidays, and month-end.

· Confirm fills, reconcile positions against targets, and flag breaks immediately.

Market monitoring

· Prepare for each session: the economic calendar, overnight moves in other markets, and anything that may affect how and when we trade.

· Watch the markets we trade throughout the U.S. session and keep the team informed of significant moves, news, and changes in liquidity.

· Bring market color and trade ideas to the team, and be ready to defend them on evidence.

Execution analysis and improvement

· Measure execution quality, including slippage against arrival price, fill rates, and market impact.

· Work with researchers and developers to improve execution models and tools, including market-versus-limit order decisions.

· Monitor execution systems in real time, catch anomalies, and escalate issues fast.

· Keep clear records of what you traded, why, and what you learned.

What we're looking for

· Genuine, demonstrable passion for markets and global macro.

· Fast, accurate numeracy: mental math, probability, basis points, and P&L; under time pressure.

· Calm, decisive judgment when markets move quickly.

· The discipline to follow process and risk limits every time, especially when it is inconvenient.

· Exceptional attention to detail. One wrong digit on an order can cost more than a month of good execution saves.

· The integrity to own mistakes immediately and raise them early.

· Clear, concise communication, written and verbal, in real time.

· Comfort with technology and data, and the ability to learn trading systems quickly.





· A strong academic background in economics, finance, mathematics, statistics, engineering, or another quantitative discipline.

Useful experience

Experience in some of the following areas would be useful, but is not required across the board:

· Trading, execution, trade support, or market making, including internships.

· Market microstructure: order books, bid/ask spreads, order types, auctions, and liquidity.

· Futures, FX, rates, equities, or ETFs.

· Trading competitions such as IMC Prosperity, or a track record of personal trading.

· Python, SQL, or Excel for analyzing trades and market data.

· Transaction cost analysis or execution algorithms.

Market-specific knowledge and our tools can be learned on the job. A love of markets can't be taught.

Working style

The team operates with a flat structure and a high level of day-to-day interaction.

· Take responsibility for every order, from instruction to confirmed fill.

· Move quickly while maintaining care and accuracy.

· Speak up early when something looks wrong: a price, a fill, a position, or a system.

· Be open about what you do not know and willing to learn quickly.

· Be comfortable having ideas challenged and evaluating them on evidence.

We trade live capital, so discipline and attention to detail matter. We do not expect a current hire to know the entire domain immediately, but we do expect careful work, intellectual honesty, and good judgment.

Working hours and role scope

This is a remote role, with India preferred. The trading operation is centered around U.S. Futures market hours, and an execution trader needs to be prepared to be at the screen while U.S. markets are open: 23 hours a day, 5 days a week, plus preparation before the open. Willingness to be present for any shift during that window is a core requirement of the role.

Because the team is small, the role spans areas that are often separated at larger organizations: execution, market monitoring, trade operations, and working alongside research and technology. Strong contributors can take on increasing responsibility as they demonstrate judgment and consistent performance.

How to apply

If you truly believe you have what it takes to succeed in this role, apply. In your application, tell us in a few lines what you're watching in markets right now and why.

📌 Execution Trader (New Delhi)
🏢 FRGM Capital
📍 New Delhi