Senior Analyst, Tokenization & Alternative Products

Job Description:

Senior Analyst, Tokenization & Alternative Products

Location: Chicago (4 days in office)

Job Level: P3 - Senior

Reports to: VP, Head of Tokenization

Role Purpose

• The Senior Analyst, Tokenization & Alternative Products will provide the research, modelling, and synthesis capacity required to support a fast-moving, multi-stakeholder portfolio. The role is scoped as a US-anchored hire, the head of Tokenization is based in London, to give the team durable Chicago-hours coverage across trading infrastructure, clearing, product, oracle and regulatory franchise touchpoints, and to serve as a conduit between Chicago and the team's other locations.

• The position will contribute to the firm's evaluation, planning, and execution of tokenization and alternative product initiatives across listed markets, centrally cleared derivatives, clearing product development, and digital asset infrastructure.

Strategic Context

• Tokenization and alternative products are reshaping product design, distribution, clearing, technology, infrastructure and regulatory frameworks across global markets. As Cboe's work in this space continues to evolve it requires rigorous evaluation to ensure new initiatives are commercially grounded, compliant, and integrated with the firm's core infrastructure.

• As Cboe's tokenization and alternative products efforts scale across data, clearing, and product areas - and as integration with traditional business lines deepens - the team requires dedicated analytical capacity embedded within it, with credible technical literacy and the ability to produce decision-grade outputs for senior leadership.

Key Responsibilities

Competitive Intelligence & Market Analysis

• Own competitive intelligence, market sizing, and product-economics analysis across tokenization and digital-asset venues, including derivatives and retail trading venues. Drawing on inputs from derivatives and retail trading leaders.

• Build and maintain the team's evidence base - partner landscape, regulatory developments, on-chain vs. off-chain market structure, and adoption metrics.
• Monitor competitive developments and evolving global standards in tokenization, crypto assets, and alternative products.

Data, Analytics & Decision Support

• Analyze trading, liquidity, and client data to support product design, monitoring, and strategic decision-making.

• Build and maintain datasets, dashboards, and analytical reports for internal stakeholders.

• Produce decision-grade materials and turn stakeholder conversations into structured outputs the senior leads can act on.

• Prepare concise briefing materials, data packs, and executive-ready summaries.

Technical Literacy & Translation

• Maintain working literacy in tokenization mechanics, DLT infrastructure, and digital-asset market structure - sufficient to interpret technical material, frame analytical questions accurately, and translate between business and technical audiences.

• Engage technical content without losing analytical rigor; act as a credible interlocutor in partner and stakeholder conversations (not a developer or solutions architect).

Cross-Functional Engagemen t

• Support the senior leads’ engagement with related functions across Cboe including Data Vantage, Cboe Clear, Equities, Derivatives Product and Sales, Market Structure, Legal, Regulatory and Strategy functions by coordinating inputs and following up on action items.

• Translate partner, client, and sales feedback into structured analytical inputs the senior leads can act on.

Governance, Risk & Regulation

• Support the senior leads in tracking regulatory developments globally as they impact tokenization and alternative products initiatives.

• Contribute to risk assessments related to custody, wallet infrastructure, default scenarios, and on-chain/off-chain reconciliation.

• Help prepare materials for governance, regulatory, and partner due-diligence discussions.

Required Skills & Experience

Experience

• 4+ years' experience in financial markets, exchanges, fintech, and/or digital asset firms preferred (candidates with 2+ years and strong relevant exposure will be considered)

• Solid understanding of digital asset products across CEXs and DEXs including OTC knowledge and experience working on tokenization initiatives.

• Good understanding of US & European market structures and regulation, the retail and institutional trading landscape, including brokers, venues, and liquidity providers.

• Demonstrated ability to produce executive -level analytical materials and data sets as well as presentation materials.

• Working knowledge of tokenization standards, digital asset infrastructure, or DeFi/TradFi convergence themes.

Skills

• Strong analytical skills with experience working on large datasets.

• Working knowledge of SQL; Python experience is a strong plus.

• Strong written and verbal communication skills, including ability to produce senior-level insights.

• Strong MS Office skills (Word, Excel, PowerPoint); Sigma experience advantageous.

Preferred / Nice to Have

• Experience with exchange-traded derivatives, clearing oracles and post-trade infrastructure.

• Experience automating analytics or reporting workflows.

• Demonstrated use of AI tools to accelerate analytical workflows - including competitive research, document synthesis, data exploration, and drafting of briefing materials.

• Familiarity with Jira, Confluence, Snowflake, and similar tools.

Education

• Bachelor's degree required; advanced degree or relevant Master's preferred.

This position is not eligible for visa sponsorship. Candidates must be legally authorized to work in the United States without the need for employer sponsorship now or in the future.

Salary Ranges (applicable for US locations only)

This role may also be eligible for annual incentive compensation and, where applicable, participation in Cboe's long-term equity programs.

Additional information about Cboe's total rewards program, including benefits and other compensation components, can be found here: Total Rewards at CBOE.

Any communication from Cboe regarding this position will only come from a Cboe recruiter who has a @cboe.com email or via LinkedIn Recruiter. Cboe does not use any other third party communication tools for recruiting purposes.