Legal Counsel
IMC Trading
$200,000 - $250,000 / year
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Description
We're looking for a seasoned attorney to serve as Legal Counsel. This role is responsible for supporting all our business lines (e.g. trading in equity options, equities, ETFs, futures). This includes supporting all legal agreements and documentation related to our treasury function, prime brokerage arrangements, and clearing relationships.
Your Core Responsibilities:
- Provide legal advice across the US and London / EUR markets across a wide array of asset classes and topics, including prime brokerage arrangements, give-up agreements, securities lending, netting and collateral, capital and liquidity requirements, custody and clearing relationships, and reporting
- Lead negotiations across all prime brokerage and OTC derivatives documentation including ISDA Master Agreements, Credit Support Annexes, and securities lending and repurchase documentation, as well as banking deposit agreements, account control agreements, letters of credit agreements, etc.
- Advise on regulatory compliance and implementation of key regulatory projects such as transaction reporting, clearing, and margin requirements, on cash equities, fixed income, options, futures, and derivatives
- Collaborate with Risk, Treasury, and business support, helping internal teams understand regulatory requirements and implementation impacts
- Frame technical legal risks into clear commercial impacts
- Exercise judgment to escalate risks in alignment with legal standards and stakeholder engagement
Your Skills and Experience:
- 8+ years of legal experience, with meaningful in-house experience at a large, complex organization
- Strong background in both private practice and in-house environments, ideally within leading buy-side financial institutions, asset managers, or trading firms
- Sound understanding of OTC derivatives, including deep familiarity with ISDA Master Agreements, Securities Lending Documentation, and related regulatory frameworks
- Proven track record managing large-scale, cross-functional projects from initiation through completion
- Strong business acumen and ability to translate complex legal issues into clear, actionable guidance for senior stakeholders
- Exceptional written and verbal communication skills
- J.D. from an accredited law school; active bar membership required
- Highly organized with strong project management instincts — you don't just flag problems, you build systems to prevent them
- Comfortable operating with ambiguity and shifting priorities
- Collaborative and low-ego — you get things done through influence, not authority
- Discreet and trustworthy; able to handle sensitive information with professionalism
- Familiarity with legal operations tools and technology is a plus
- Willingness to promote opportunities to leverage AI tools and emerging technologies to enhance productivity, streamline workflows, and drive smarter ways of working across the Legal team and the organization
- Committed to principled risk management and decisive communication
Please note that immigration sponsorship is not offered for this specific opening.
The Base Salary range for the role is included below. Base salary is only one component of total compensation; all full-time, permanent positions are eligible for a discretionary bonus and benefits, including paid leave and insurance. Please visit Benefits - US | IMC Trading for more comprehensive information.
About Us
IMC is a research-driven trading firm where quantitative modeling, machine learning, and engineering shape how modern markets are traded. A stabilizing force in markets since 1989, we provide liquidity across trading venues, delivering the best outcome in value and risk management to investors. Using our own technology and capital, we build proprietary systems and algorithms that operate across global markets. Our researchers, traders, and engineers work as a collective, combining rapid experimentation, advanced infrastructure, and real-time feedback to turn insight into execution and execution into advantage.
Benefits
- >Benefits
- US | IMC Trading for more comprehensive information. Salary Range $200,000
About this role
IMC Trading is seeking an experienced in-house attorney to manage legal affairs across its diverse trading operations—equities, options, ETFs, and futures—with particular focus on prime brokerage relationships, OTC derivatives documentation, and regulatory compliance. You'd advise on complex matters spanning ISDA agreements, securities lending, clearing arrangements, and capital requirements across US and European markets, while leading negotiations on major documentation and supporting regulatory implementation projects like transaction reporting and margin rules.
The ideal candidate brings 8+ years of legal experience, with substantial time both in private practice and at a sophisticated financial institution. You'll need deep expertise in OTC derivatives and ISDA frameworks, strong project management skills, and the ability to translate intricate legal and regulatory issues into clear guidance for senior business stakeholders. This role demands someone who can operate effectively across teams—Risk, Treasury, and business units—without formal authority, building systems and processes rather than just identifying problems.
Based in Chicago with in-office attendance required, this full-time position offers a salary of $200,000–$250,000 plus discretionary bonus and benefits. You must hold a J.D. from an accredited law school and maintain active bar membership; immigration sponsorship is not available for this opening.
How this employer is doing
solid
- Hiring Mentioned
Typical pay for this role
$100,000
Typical range: $60,000 to $140,000
This role's local market on JobMinglr
Pay for this role
$200,000 to $250,000 per year
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