Hedge funds including Eisler Capital and quant trading shops including Squarepoint Capital are aggressively hiring traders who specialise in commodity volatility as global market swings create opportunities for profit, according tom a report by Financial News.
The reports cites recruiters and market participants as revealing that firms have stepped up recruitment of traders capable of navigating turbulent conditions across energy, metals, and agricultural markets.
The hiring surge comes amid a year of heightened volatility. Tariffs imposed by the US, ongoing tensions in the Middle East, and the uncertain Russia-Ukraine peace process have driven wild price movements across raw materials. A key commodities volatility measure spiked in July to its highest level since early 2023, reflecting elevated market uncertainty.
Notable recent moves include Eisler Capital hiring cross-commodities volatility trader Greg Bugaj from Gunvor, Squarepoint bringing on metals trader Anthony Pears from Trafigura, and Dimitri Avramov moving from Bank of America to Morgan Stanley. Robert Bennett, formerly head of commodities relative value at Garda Capital, is joining Capstone in New York.
Volatility traders typically use options to bet on the magnitude of price swings rather than their direction, relying on pricing models, algorithms, and quantitative frameworks. Bugaj, for example, applies game theory alongside quantitative and fundamental analysis to exploit structural imbalances in options markets.
The trend highlights the blurring lines between hedge funds and traditional trading houses. Some hedge funds, including Balyasny Asset Management and Qube Research & Technologies, have expanded into physical commodity trading, a space historically dominated by merchant firms.
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