Trader roles.
The roles that take risk and run a book — responsible for the desk's trading positions and P&L.

Real-Time Trader
PowerManages a constantly shifting stream of supply, demand, and grid conditions to buy and sell electricity for immediate delivery. Watches system load, generation outages, congestion, and price spikes minute by minute — anticipating short-term imbalances like sudden wind drops or unexpected load ramps and trading around them before the rest of the market reacts. Also optimizes physical assets and contractual positions: when to dispatch generation, curtail load, or reshape schedules.
Day-Ahead Power Trader
PowerBuilds the next day's portfolio by forecasting load, renewables, outages, and congestion across the grid. Submits bids and offers into the day-ahead market to lock in prices for energy, ancillary services, and congestion before real-time volatility hits — structuring positions that stay profitable under tomorrow's wind ramps, solar shape, weather swings, and transmission constraints.

Congestion Revenue Rights Trader
PowerAnalyzes congestion patterns on the grid and uses Congestion Revenue Rights to hedge or profit from expected transmission constraints. Studies historical flows, outage schedules, load forecasts, and nodal price behavior to predict where congestion shows up tomorrow, next month, or next year. The day revolves around bidding in CRR auctions, managing a portfolio of rights, and evaluating how those positions settle against real-time congestion.
Natural Gas Trader
GasManages the flow of natural gas across pipelines, storage fields, and markets to capture value from shifting supply-demand conditions. Watches weather, production changes, pipeline constraints, and storage levels — deciding when to inject, withdraw, or reroute gas to higher-value markets. Negotiates physical deals, schedules pipeline nominations, and balances positions against real-time changes, because outages, freeze-offs, or demand spikes can move prices sharply.
Crude Oil Trader
OilManages exposure to global oil markets by buying and selling physical barrels, futures, and spreads tied to benchmark grades like WTI and Brent. Tracks OPEC decisions, refinery runs, shipping flows, geopolitical risk, and inventory data. The day revolves around logistics — securing pipeline space, arranging tanker movements, timing deliveries to capture arbitrage between locations or qualities — while hedging price risk through derivatives.

Refined Products Trader
OilBuys and sells gasoline, diesel, jet fuel, and other downstream products to capture value from shifts in supply, demand, and refinery economics. Tracks refinery outages, crack spreads, seasonal demand, and shipping flows. Optimizes logistics — pipeline space, barges, railcars, tankage — to move product to the highest-value markets, hedging exposure through futures and swaps.
Renewable Credits Trader
EnvironmentalBuys and sells environmental credits — RECs, RINs, LCFS credits, carbon offsets — to capture value from policy-driven markets. Tracks regulatory changes, compliance deadlines, renewable output, and credit supply-demand balances. Sources credits from generators, negotiates with obligated parties, and manages a portfolio across compliance programs, always weighing policy risk because a single rule change can reshape credit values.

Foreign Exchange Trader
FXBuys and sells currencies to profit from exchange-rate moves and to hedge open cash positions on the balance sheet. Monitors macroeconomic data, central-bank policy, geopolitical events, and capital flows. The day revolves around managing positions, quoting prices to clients, and executing across highly liquid, 24-hour markets.
Bond Trader
RatesBuys and sells government, corporate, and municipal bonds to profit from changes in interest rates, credit risk, and yield curves. Monitors macro data, central-bank policy, and inflation trends to anticipate how yields move — pricing bonds, managing inventory, and shaping positions with the right duration, convexity, and credit-spread profile.
Other front-office roles
Trading Analyst
AnalyticsDoes analytical work for traders alongside trade execution and report prep. Builds dashboards in Excel and Power BI to sharpen strategy and market intelligence, working side by side with traders to grow the desk's P&L. A common on-ramp to a trading seat.
Scheduler
PipelineTracks and nominates gas flow in internal systems and on pipelines' Electronic Bulletin Boards (EBBs). Talks to pipeline customers and troubleshoots volume discrepancies for desks and customers — making sure the MMBTUs get from A to B. Often carries on-call responsibilities and rotating shifts.
Where you learn the mechanics.
Risk, P&L, and reporting — the clearest window into how a desk actually works. I sat here.
The seats
Middle-office risk roles report the desk's position in the market — contracts owned, exposure by product — and handle accounting and profit-and-loss. My middle-office work was heavy in Excel: preparing reports, understanding the desk's trades, compliance, and more.
It's where you learn the mechanics of a trading desk — spreads between two traded points in gas and crude, futures, swaps, why trades make and lose money, and the whole pre- and post-trade lifecycle.
You solve problems with the front office, troubleshoot deal entry in internal software, prepare reports, and sometimes book accounting entries in SAP for derivatives and financial reporting.
A few seats away — and a real way in.
Settlements and confirmations sit furthest from the trade, but it's honest experience you can parlay. I started here too.

The seats
My analyst roles at AllianceBernstein and Energy Transfer carried settlements responsibilities. Day to day: Excel, invoices with traded quantities — equities, barrels, MMBTUs — calls with counterparties' back-office teams at energy companies and banks, and internal trade-booking software.
The role sends and receives payments for traded volumes, solves payment problems, and makes sure money changes hands correctly across various platforms.
It may sit a few seats from the trader role, but it's a solid way to learn the business and earn experience — experience you can parlay into a higher-level role.
Let's get you into that seat.
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