Senior Analyst, Tokenization & Alternative Products

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.

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,