Job Openings at Nathan Associates

About The Job
Position Summary:
The Ghana Commodity Exchange (GCX) seeks to introduce new financial products and deepen the country’s capital market. 
GTI will collaborate with GCX to develop a framework for innovative financing instruments for commodities, in an effort to develop suitable products. 
To achieve this, GTI will engage the services of an international consultant, on a short-term basis, with experience and knowledge in the mechanics, operations, and design of financial products for commodities;

• The consultant will develop a framework and guidelines for the introduction of futures and forward financial instruments on traded commodities at the GCX. 
• The framework will provide the legal basis for regulating trading in futures, protecting the lawful rights and interests of traders, and promoting futures and derivative markets to serve the real economy. 
• The achievement of this objective will mark a new chapter in the development of financial instruments in Ghana. 

The framework to be developed will include:

• Contract types and sizes
• Traceability and trading rules
• Product quality, standardization, and grading issues
• Clearing and settlement rules
• Conciliation and arbitration
• Settlement Guarantee Fund
• Customer protection
• Market information dissemination
• Market surveillance
• Compliance

Function Note:

• Conduct desk and literature reviews of existing frameworks and best practices;
• Create a pros and cons analysis of futures and forwards;
• Validate recommendations with stakeholders;
• Design and develop a framework;
• Develop a futures guidelines document.

Requirement Note:

• Minimum of a bachelor’s degree in Law, Finance, or Public Policy;
• Ten or more years of professional experience in government, financial markets, or a related field;
• Demonstrated experience in developing futures and forward financial instruments;
• Demonstrated experience in commodities and equity/fixed income exchanges;
• Demonstrated ability to interact with government and other public stakeholders in developing countries in the English language;
• Experience working with USAID and/or other international donors preferred; and
• Experience working in West Africa preferred.

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About The Job

Position Summary:
GTI’s partner Ghana Commodity Exchange (GCX) is seeking to review and update its current rulebook that guides market operations. 
To achieve this outcome, GTI will engage the services of a a short-term consultant with experience and knowledge in the design, set up, and operations of commodity exchanges;

• The updated rulebook will conform to best practices and operations of commodity exchanges and ensure active participation and operations of the key actors who play in the space.
• The consultant will conduct a full review, provide recommendations, and lead in the creation of the amendment for the rulebook to include current and international best practices used by efficient commodity exchanges.

The amendment of the rulebook will help improve:

• Administration and Governance of the Exchange
• Membership Rules
• Trading Rules
• Clearing and Settlement Rules
• Warehouse Receipt Rules
• Contract Rules
• Rules of Discipline and Enforcement
• Conciliation and Arbitration
• Settlement Guarantee Fund
• Market Information Dissemination
• Market Surveillance
• Compliance

Function Note:

• Complete review of existing GCX Rulebook;
• Engage core staff of the Exchange in a brainstorming session to explore how current operations in the marketplace align with the rules in the current GCX Rulebook;
• Analyze market dynamics for the commodity market;
• Develop recommendations for the GCX Rulebook amendments;
• Validate the recommendations with stakeholders;
• Revise and amend the GCX Rulebook.

Requirement Note:

• Minimum of a bachelor’s degree in Law, Finance, or Public Policy;
• Ten or more years of professional experience in government, financial markets, or a related field;
• Demonstrated experience in developing rules and best practices in the operations of commodity exchanges;
• Demonstrated experience in commodities and equity/fixed income exchanges;
• Demonstrated ability to interact with government and other public stakeholders in developing countries in the English language;
• Experience working with USAID and/or other international donors preferred.