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Onyx Capital Group

Oil derivatives market-maker and liquidity provider

Rust Software Engineer

Full-Time
No salary listed
Mid, Senior
London, UK
In Person
Software EngineeringBackend Engineering

About the job

Requirements
  • At least 2 years of experience in a software engineering role, with a stated range of 2–5+ years.
  • Solid proficiency in Rust, including ownership, lifetimes, traits, and the borrow checker in real-world systems.
  • Strong systems programming fundamentals, including memory management, concurrency, safe and performant code, and production software design patterns.
  • Experience using Test-Driven Development with unit, integration, and end-to-end tests.
  • Experience automating manual processes through tooling, scripts, and pipelines.
  • Experience designing, building, and consuming REST APIs, including authentication, versioning, and error handling.
  • Experience with source control and continuous integration and continuous delivery using GitHub, Azure DevOps, or GitLab, including branching strategies, pull-request workflows, and pipeline contribution.
  • Experience working in cloud-hosted environments; Azure is preferred.
  • Ability to take features from tickets through production independently and resolve issues in systems the engineer has built.
  • Ability to engage directly with remote end users and business stakeholders to understand requirements, debug issues, and communicate progress.
  • Strong written and spoken English communication skills.
  • Ability to work autonomously and proactively across synchronous and asynchronous settings.
Responsibilities
  • Take full ownership of features end-to-end, from design through delivery and into production.
  • Build and maintain live trading infrastructure used by market participants.
  • Identify and eliminate manual processes through automation, tooling, scripts, and pipelines.
  • Design, build, and consume REST APIs.
  • Write unit, integration, and end-to-end tests as part of the development loop.
  • Collaborate with globally distributed colleagues across different time zones and cultures.
  • Engage directly with end users and business stakeholders to understand requirements, debug issues, and communicate progress.
Desired Qualifications
  • Experience working with globally distributed teams.
  • Experience with asynchronous Rust using Tokio or async-std and building concurrent, high-throughput services.
  • Familiarity with C, C++, or other systems languages, including bridging Rust with existing codebases through foreign function interfaces.
  • Experience with agile delivery practices such as sprint planning, retrospectives, and stand-ups.
  • Prior experience in financial services or fintech, or genuine interest in financial technology and capital markets.
  • Exposure to containerized environments using Docker or Kubernetes.
  • Familiarity with message-based architectures such as Kafka or NATS, or gRPC/protobuf-based APIs.

About the company

Onyx Commodities is a liquidity provider and market-maker in oil derivatives, acting as the trading arm of Onyx Capital Group. It uses its own data and market visibility to offer services via Onyx Capital Advisory (brokerage, consultancy, and research) and runs Flux, a trading platform that gives direct market access, real-time prices, and fast order execution. The firm trades large volumes—over 25 billion paper barrels annually—and has a significant share of the oil swaps market, while expanding into metals such as copper and iron ore and planning to enter power, gas, and carbon markets with offices in London, Dubai, and Singapore. Its goal is to digitize and democratize the oil swaps market by improving price transparency and providing hedging and risk-management solutions for professional traders and corporate clients.

Company Size

51-200

Company Stage

N/A

Total Funding

N/A

Headquarters

London, United Kingdom

Founded

2016

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Simplify's Take

What believers are saying

  • Onyx opened New York in February 2026, expanding U.S. coverage.
  • The company reported $388 million annual group revenue and 29% trading-volume CAGR.
  • July 2026 launch of perpetual oil ETC extends Flux into investable products.

What critics are saying

  • Oil swaps are opaque; electronic rivals can compress spreads and erase margins quickly.
  • FCA warned about unauthorized Onyx Traders and Onyx Trade Group, confusing customers.
  • Heavy oil-market concentration ties earnings to benchmark volatility and liquidity shocks.

What makes Onyx Capital Group unique

  • Flux 4.0 delivers under-50-microsecond oil swap pricing across 800 curves.
  • Axis and Onyx Commodities combined surpassed 85% Dated Brent CFD share.
  • Onyx claims 30% S2F market share and $4T annual notional traded.

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