Quantitative Research Intern at DRW
Our formula for success is to hire exceptional people, encourage their ideas and reward their results.
As a Quantitative Research Intern you will have an opportunity to solve challenging problems arising in a trading environment while utilizing the latest statistical scientific algorithms, machine learning techniques and derivatives pricing theory. The teams focus on non-latency sensitive investment opportunities and multi-asset class derivatives strategies across geographies. Our teams emphasize cutting-edge innovative scientific research and collaboration, allowing you to gain a deeper understanding of quantitative trading. You will find great minds with diverse backgrounds, who are passionate about cultivating new ideas and exploring ways to bring them to life. You will use the team’s custom research infrastructure for simulation, back-testing, and validation of the proposed models. While your days will have you engrossed with complex technology projects, your evenings will be spent exploring the city with organized social events to truly discover what it’s like to live and work in Chicago.
How you will make an impact…
- Create practical solutions to problems presented in the trading environment on either a systematic equity trading desk or a fixed income options desk
- Conduct statistical analysis of market data, historical trends, and relationships across multiple asset classes
- Formulate and apply mathematical modeling, quantitative methods and machine learning techniques to identify and capture trading opportunities
- Work closely with traders and researchers to build and refine research infrastructure and tools
What you bring to the team…
- Are pursuing a Master’s or PhD in a technical discipline with a focus on Statistics, Optimization, Machine Learning, Artificial Intelligence, Quantitative Finance or related fields graduating between December 2021 and August 2023
- Proficiency in Python programming experience using the Python machine learning stack: numpy, pandas, scikit-learn, etc.
- Proficient programming skills with experience exploring large datasets
- Strong analytical and problem-solving skills including a solid foundation of statistics knowledge
- Working knowledge of probability theory, stochastic calculus and numerical algorithms such as finite differences, Monte Carlo simulation, etc.
- Some exposure to Natural Language Processing and/or High-Performance Computing is a plus
- Excellent written and verbal communication skills to report research results as well as methodologies
- Added bonus if you have been published in a top tier journal focusing on Natural Language Processing or High-Performance Computing
What to expect during the internship
- Meaningful projects: Each project, advised by a trader, promotes a comprehensive learning experience and provides you with real-world work experience.
- Community: Throughout the summer, we host a variety of educational, social and team-building activities to explore the city, foster friendships and camaraderie.
- Housing: DRW provides fully furnished apartments located close to the office – making your morning commute as easy as possible.
- Mentorship: You’ll build a professional relationship with an experienced mentor in your field. Mentors and mentees meet to discuss goals, challenges and professional development and explore the city together at our mentor outings.
- Education: As the trading industry continually evolves, both in terms of new products and transaction methods, the future will present us with unique opportunities and challenges. You’ll complete an options course taught by an experienced trader and participate in a technology immersion course to better understand how technology and trading intersect.
DRW is a technology-driven, diversified principal trading firm. We trade our own capital at our own risk, across a broad range of asset classes, instruments and strategies, in financial markets around the world. As the markets have evolved over the past 25 years, so has DRW – maximizing opportunities to include real estate, cryptoassets and venture capital. With over 1,000 employees at our Chicago headquarters and offices around the world, we work together to solve complex problems, challenge consensus and deliver meaningful results. It’s a place of high expectations, deep curiosity and thoughtful collaboration.
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