At T. Rowe Price, we identify and actively invest in opportunities to help people thrive in an evolving world. As a premier global asset management organization with more than 85 years of experience, we provide investment solutions and a broad range of equity, fixed income, and multi-asset capabilities to individuals, advisors, institutions, and retirement plan sponsors. We take an active, independent approach to investing, offering our dynamic perspective and meaningful partnership so our clients can feel more confident.
We believe doing the right thing for our clients and our associates is good business. With a career at the firm, you can expect opportunities to create real impact at work and in your community. You’ll enjoy resources to support your career path, as well as compensation, benefits, and flexibility to enrich your life. Here, you’ll find a collaborative culture that respects and values differences and colleagues who share a spirit of generosity.
Join us for the opportunity to grow and make a difference in ways that matter to you.
Role Summary
The ETF Capital Markets Analyst supports the ETF Capital Markets team in promoting efficient trading, liquidity, and primary and secondary market activity across T. Rowe Price’s ETF platform. The role serves as a resource for monitoring ETF market quality, supporting external ETF trading relationships, and responding to ETF trading and liquidity-related inquiries. The Analyst will monitor ETF trading and creation/redemption activity, maintain market surveillance and analytics, support new ETF launches, and assist with relationships across authorized participants, market makers, exchanges, trading desks, and other ETF ecosystem partners. This role will work closely with ETF Capital Markets team members and internal partners across Distribution, Operations, Trading, Portfolio Management, Product, Legal, and Compliance.
Responsibilities
ETF Market Monitoring & Analytics:
- Monitor trading activity, liquidity, spreads, premiums/discounts, volumes, and other market quality indicators across T. Rowe Price ETFs.
- Conduct ongoing analysis of primary and secondary market activity to identify trends, potential issues, and opportunities to improve ETF trading and liquidity.
- Develop and maintain market surveillance tools, dashboards, databases, and recurring ETF capital markets reporting.
- Monitor ETF creation/redemption activity, basket activity, and authorized participant engagement.
- Analyze competitor ETFs and broader market activity to provide context on trading and liquidity trends.
- Escalate time sensitive issues and situations to senior ETF Capital Markets team members as appropriate.
Capital Markets Partner Support:
- Support day-to-day interactions with authorized participants, market makers, institutional sales and trading desks, exchanges, wealth execution platforms, and other ETF capital markets partners.
- Assist the Capital Markets team in monitoring market maker and authorized participant activity and engagement.
- Support onboarding and ongoing coordination with ETF liquidity providers.
- Assist with coordination related to create/redeem activity, basket questions, client facilitation, and other trading-related matters.
Primary Market & Platform Support:
- Support efforts to enhance the ETF primary market platform and authorized participant experience.
- Monitor creation/redemption activity and help identify trends or issues requiring attention and follow-up.
- Assist with authorized participant onboarding, documentation, testing, and ongoing platform support.
- Assist with operational and technology initiatives designed to improve ETF trading and primary market processes.
Sales & Client Support:
- Support Distribution with ETF trading, liquidity, and capital markets-related inquiries.
- Provide trading and liquidity analysis to support institutional and intermediary client conversations.
- Assist senior ETF Capital Markets team members with preparation and follow-up for client and trading partner meetings.
- Prepare ETF trading analytics and supporting materials for client, ETF business, and internal discussions.
ETF Launch & Cross-Functional Support:
- Support capital markets readiness for new ETF launches, including coordination with authorized participants, market makers, exchanges, operations, portfolio management, and other internal partners.
- Monitor trading and liquidity following ETF launches and provide relevant analysis to the Capital Markets team and key stakeholders.
- Work with Distribution, Operations, Trading, Portfolio Management, Product, Legal, and Compliance on ETF-related initiatives and day-to-day activity.
Industry, Governance & Reporting Support:
- Monitor relevant ETF market structure, trading, regulatory, and industry developments.
- Support research and analysis related to changes affecting ETF trading and the broader ETF ecosystem.
- Assist with ETF governance, compliance, and oversight requirements.
- Maintain internal reporting, databases, and ETF analytics tools.
- Help prepare materials and analysis for internal governance and business reviews.
Qualifications
Required:
- Bachelor's degree or equivalent combination of education and relevant professional experience.
- 3+ years of relevant experience in financial services, asset management, trading, capital markets, investment operations, or a related function.
- Understanding of ETFs, financial markets, and trading concepts.
- Experience with Bloomberg and/or other investment and ETF data platforms.
- Strong written and verbal communication skills.
- Strong organizational and time-management skills with the ability to manage multiple priorities.
- Ability to analyze complex information, identify relevant issues, and communicate findings clearly.
- Ability to work effectively both independently and within a collaborative, cross-functional team environment.
Preferred:
- ETF capital markets or ETF trading experience strongly preferred.
- Understanding of ETF product structure, primary and secondary market mechanics, creation/redemption processes, baskets, liquidity, and trading.
- Familiarity with key participants in the ETF ecosystem, including authorized participants, market makers, exchanges, custodians, and trading desks.
- Experience analyzing ETF spreads, premiums/discounts, volumes, liquidity, and other market quality metrics.
- Familiarity with ETF market structure and relevant regulatory considerations.
- FINRA Series 7 and 63 preferred or ability to obtain as required.
FINRA Requirements
FINRA licenses are not required.
Work Flexibility
This role is eligible for hybrid work, with up to one day per week from home.
Base Salary Ranges
Please review the job posting for the location of this specific opportunity.
$96,500.00 - $164,000.00 for the location of: Maryland, Colorado, Washington and remote workers$105,000.00 - $180,000.00 for the location of: Washington, D.C.
$120,000.00 - $205,000.00 for the location of: New York, California
Placement within the range provided above is based on the individual’s relevant experience and skills for the role. Base salary is only one component of our total compensation package. Employees may be eligible for a discretionary bonus, which is determined upon company and individual performance.
Commitment to Diversity, Equity, and Inclusion
At T. Rowe Price, our associates are our greatest asset. We thrive because our company culture is built on inclusion and because we sustain a work environment where associates can bring their best selves to work every day. The backgrounds, talents, and experiences of our global associates allow us to embrace new ideas and perspectives that move our business priorities forward and enable us to deliver strong client outcomes. Here, you can expect equal opportunity and fair and consistent treatment for all.
Benefits
We value your goals and needs, at work and in life. As an associate, you’ll be supported with resources, benefits, and work-life balance so you can thrive in ways that matter to you.
Featured employee benefits to enrich your life:
Competitive compensation
Annual bonus eligibility
A generous retirement plan
Hybrid work schedule
Health and wellness benefits, including online therapy
Paid time off for vacation, illness, medical appointments, and volunteering days
Family care resources, including fertility and adoption benefits
Learn more about our benefits.
Skills Required
- Bachelor's degree or equivalent combination of education and relevant professional experience
- 3+ years of relevant experience in financial services, asset management, trading, capital markets, investment operations, or a related function
- Understanding of ETFs, financial markets, and trading concepts
- Experience with Bloomberg and/or other investment and ETF data platforms
- Strong written and verbal communication skills
- Strong organizational and time-management skills with the ability to manage multiple priorities
- Ability to analyze complex information, identify relevant issues, and communicate findings clearly
- Ability to work effectively independently and within a collaborative, cross-functional team environment
- ETF capital markets or ETF trading experience
- Understanding of ETF product structure, primary and secondary market mechanics, creation/redemption processes, baskets, liquidity, and trading
- Familiarity with authorized participants, market makers, exchanges, custodians, and trading desks
- Experience analyzing ETF spreads, premiums/discounts, volumes, liquidity, and other market quality metrics
- Familiarity with ETF market structure and relevant regulatory considerations
- FINRA Series 7 and 63 licenses or ability to obtain as required
T. Rowe Price Compensation & Benefits Highlights
The following summarizes recurring compensation and benefits themes identified from responses generated by popular LLMs to common candidate questions about T. Rowe Price and has not been reviewed or approved by T. Rowe Price.
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Retirement Support — Retirement offerings are positioned as a standout, including strong 401(k) matching/contributions and related long-term savings features. Employee stock purchase options are also cited as part of the overall rewards structure that adds value beyond base pay.
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Leave & Time Off Breadth — Time-off benefits are repeatedly framed as generous, including sizeable PTO allotments and multiple paid-leave categories. This breadth of leave is described as a meaningful component of the overall rewards package.
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Career-Linked Recognition & Rewards — Annual bonuses and performance-linked rewards are described as common components of total compensation. Tuition assistance and development support are also presented as rewards that reinforce longer-term career growth.
T. Rowe Price Insights
What We Do
T. Rowe Price is an asset management firm focused on delivering global investment management excellence and retirement services that investors can rely on—now, and over the long term. Headquartered in Baltimore, Maryland, we provide an array of mutual funds, subadvisory services, separate account management, recordkeeping, and related services for individuals, advisors, institutions, and retirement plan sponsors. At T. Rowe Price, we believe in strategic investing. It has guided how we do business for more than 80 years, and it’s driven by independent thinking and rigorous research. So our clients can be confident that we’ll strive to select the right investments as we help them achieve their objectives. Strategic investing means that we don’t stop at surface level analysis. Instead, we go beyond the numbers. Our investment professionals travel the world, visiting the companies they evaluate. It’s this passion for exploration and understanding that has helped inform better decision-making and prudent risk management for our clients since its founding by Thomas Rowe Price Jr. in 1937.
