Legal Counsel

CMC Markets is seeking an experienced, commercially minded and versatile Legal Counsel to join its EMEA Legal team in London.

The successful candidate will provide high-quality legal advice and support across CMC Markets' financial markets activities, with a particular focus on OTC derivatives, securities financing, trading arrangements, and related financial services documentation.

The role requires a lawyer with strong technical expertise in financial markets law and practice, excellent drafting skills and the ability to provide pragmatic, commercially focused advice in a fast-paced, regulated financial services environment.

The successful candidate will be comfortable acting independently as a subject-matter expert while also contributing to a collaborative legal team. The role offers exposure to a broad range of legal and commercial matters, including new products, evolving market structures and digital assets.

Key Responsibilities

Financial Markets and Transactional Support

• Provide legal advice and support in relation to CMC Markets' trading, brokerage and other financial markets business lines; particularly, prime brokerage, OTC derivatives, securities, and securities financing transactions.
• Draft, review and negotiate a broad range of financial markets agreements, including ISDA Master Agreements, Credit Support Annexes, Global Master Securities Lending Agreements (GMSLAs), give-up agreements, and related documentation.
• Advise on trading, clearing, collateral, custody, settlement and other post-trade arrangements.
• Support the negotiation of prime brokerage, execution, clearing, custody and other financial intermediary agreements.
• Advise on legal and commercial risks arising from financial markets transactions, trading structures and counterparty relationships.
• Work closely with Trading, Risk, Treasury, Operations, Compliance and other business functions to support commercial objectives.

General Legal Advisory

• Provide clear, practical and commercially focused legal advice to business stakeholders and senior management.
• Draft, review and negotiate a broad range of commercial and financial services contracts.
• Support the development and implementation of new products, services and business initiatives.
• Advise on legal and contractual matters arising from regulatory developments and changes in market practice.
• Identify, assess and help manage legal risks, balancing legal requirements with commercial considerations.
• Contribute to legal projects and provide support across other areas of law as business priorities require.
• Manage external legal advisers where appropriate.

Teamwork and Stakeholder Management

• Act as a trusted legal adviser and subject-matter expert within the business.
• Develop strong working relationships with colleagues across different business functions and jurisdictions.
• Communicate complex legal issues clearly and concisely to both legal and non-legal stakeholders.
• Work collaboratively with other members of the Legal team, sharing expertise and supporting collective objectives.
• Manage competing demands, prioritise effectively and deliver high-quality work within business deadlines.

Qualifications and Experience

Essential Requirements

• A law degree or equivalent education and relevant professional experience.
• Professional qualification as a solicitor in England and Wales, or an equivalent qualification in another common law jurisdiction.
• At least six years of relevant legal experience, preferably gained at a leading law firm, a financial institution, or a well-regarded in-house legal department.
• Strong working knowledge of the legal and contractual frameworks governing OTC derivatives, securities transactions, and related market-facing and post-trade activities.
• Practical experience drafting, reviewing and negotiating ISDA and GMSLA documentation, with a sound understanding of the underlying transactions and market practices.
• Excellent legal drafting skills, including the ability to produce clear, precise and commercially appropriate contractual documentation.
• Strong analytical skills and the ability to identify and assess complex legal and commercial risks.
• Excellent written and verbal communication skills, including the ability to explain technical legal matters to non-specialist audiences.
• Excellent organisational and time-management skills, with the ability to manage multiple matters simultaneously and meet demanding deadlines.
• Ability to work independently, exercise sound judgement and take ownership of legal matters.
• A flexible and adaptable approach, with a willingness to work outside areas of core expertise and support different legal disciplines as business requirements evolve.
• A collaborative approach and the ability to contribute effectively as part of a wider legal and business team.

Desirable Experience

• Experience advising on prime brokerage arrangements, including execution, clearing, custody, margin and collateral arrangements.
• Experience working within an investment bank, brokerage, trading firm or other regulated financial services business.
• Knowledge of digital assets, including cryptoassets, tokenised securities, digital asset custody, trading and related regulatory frameworks.
• Familiarity with UK and EU financial services regulation, particularly as it applies to investment firms, derivatives and securities markets.
• Experience supporting cross-border financial services activities and working with international counterparties.

CMC Markets is powered by our people. We are an equal opportunities employer and are committed to creating a diverse and inclusive workplace, where our people feel confident to be themselves, feel valued and can do their best work. We don’t just value differences and unique perspectives, we seek them out and we invite them in, because we know it will lead to better outcomes for everyone.