Job Description:
Building trusted markets — powered by our people
At Cboe Global Markets, we inspire our people to solve complex challenges together because what we do matters. We provide the financial infrastructure that powers the global economy. As a leading provider of market infrastructure and tradable products, Cboe delivers cutting-edge trading, clearing and investment solutions to market participants around the world.
We’re building meaningful ways to support professional and personal development while strengthening the trust we’ve earned as a global market leader. Our teams are empowered to share ideas, actively pursue them and bring on a challenge. As champions of internal mobility and access to opportunity, we encourage our people to “go for it” and equip our managers with the training to coach their teams to the next level. We strive to provide employees a safe space to network, share ideas and create opportunities.
Role: Cross Market Investigator, Regulation
The Cboe Regulatory Division (the “Division”) is actively seeking a highly motivated, technically proficient individual to join our Cross Market Surveillance team. The investigator will conduct real-time and pattern-based surveillance to assist in determinations of potential rule violations of Cboe Options and CFE Futures Exchanges (collectively, the “Exchanges”) Rules, along with other applicable rules and regulations governing Exchange Members and Trading Permit Holders (“TPH”).
Work Location:
Hybrid role with required in-office presence Monday through Thursday each week. Office location: Chicago, IL.
Duties and Responsibilities:
• Conduct surveillance and analysis of order entry and trading activity on the Exchanges to detect potential violations of Cboe and CFE rules and policies, with heavy use of Python (pandas) and advanced Excel (Power Query, pivot tables, complex formulas).
• Leveraged AI-assisted analytics and Python (pandas, NumPy) to identify patterns in cross-market trading activity, improving surveillance signal quality, reducing manual review time, and accelerating end-to-end investigations.
• Investigate alerts end‑to‑end: triage, validate, enrich with contextual data, reconstruct timelines, and document detailed findings suitable for review and potential escalation.
• Analyze and compile data into meaningful summaries and investigative narratives; maintain organized case files, update working datasets promptly, and make findings accessible to the team.
• Contribute to new surveillance processes and operational methodologies, including data pipelines, query logic, and tuning of alert thresholds to address evolving regulatory concerns.
• Conduct rule‑based investigations to ensure compliance with Exchanges rules; prepare structured memos that clearly lay out evidence, rationale, and conclusions.
• Develop and maintain deep understanding of the Exchanges’ regulatory environment, relevant rules and regulations, market microstructure, technologies and systems, and investigative/examination techniques.
• Collaborate with cross‑functional partners, particularly the Options Investigations team, to improve signal quality, share insights, and deliver effective, efficient surveillance outcomes.
• Participate in special projects (e.g., backtesting surveillance logic, data quality audits, automation of repetitive workflows, and retrospective reviews).
Skills and Experience:
• 2+ years of experience in the securities/trading industry (derivatives experience preferred), ideally in surveillance, compliance, or risk.
• Python (pandas, numpy; comfort with Jupyter notebooks and reproducible analysis).
• Excel (advanced): Power Query, pivot tables, nested formulas, data cleansing, reconciliation.
• SQL: ability to write performant queries, joins, window functions, and QA data outputs.
• Preferred data stack exposure:…