Quantitative Trading & Research - Market Microstructure & High-Frequency - Associate

Job Summary: As an Associate or Vice President in the QTR Team, you will come with deep expertise inmarket microstructureandhigh- to medium-to-high-frequency tradingto drive research on how electronic markets behave at fine time scales—and how that structure can be converted into robust, deployable systematic strategies. This is a research-forward role. You will frame problems, build measurement and simulation machinery, run careful ablation studies, and develop models/strategies that hold up across venues, regimes, and operational constraints. The ideal candidate has worked close tolive trading systemsand can translate research insights into execution- and latency-aware designs.

Job Responsibilities: Analyze high-frequency market data, including Level 2 and, where available, Level 3 or Level 4 order-book and order-event data, to identify predictive structure and trading opportunities. Develop alpha signals and trading features based on order flow, liquidity, queue dynamics, price formation, cross-venue behavior, and short-horizon market response. Design, backtest, and implement market-making and risk-taking strategies, including pricing, order placement, cancellation, queue-position management, fill-probability estimation, and inventory control. Develop realistic research and simulation methodologies incorporating latency, fees, rebates, market impact, adverse selection, and operational constraints. Optimize strategy performance across signal generation, portfolio or position sizing, execution, and intraday risk management. Work closely with traders, quantitative developers, technology partners, exchanges, and ECNs to move strategies into production and improve them using live performance and markout analysis.

Required Qualifications: Advanced degree or equivalent practical experience inmathematics, statistics, physics, computer science, engineering, financial engineering, or a related quantitative discipline.2+ yearsof full-time quantitative research experience inhigh-frequency / medium-frequency trading, electronic market making, or systematic execution .Strong understanding of electronic market mechanics:order types, matching engines, queue priority, microstructure invariants, liquidity formation, and market impact/adverse selection .Evidence of contributing to strategies used inlive markets, including a clear understanding of the research-to-production workflow and the sources of performance degradation in deployment. Strong programming and data-analysis skills inPython ; proficiency inC++or another high-performance language is highly desirable. Demonstrated rigor in experimental design and evaluation—ability to separate economically meaningful effects fromoverfitting, leakage, optimistic fills, and regime-specific artifacts .Preferred Qualifications Experience independently owning a strategy, managing a trading book, or leading a quantitative research workstream. Deep expertise in one or more areas:high-frequency market making, short-horizon alpha, execution research, multi-venue routing/optimization, or microstructure modeling .Experience acrossFICCmarkets or multiple asset classes; outstanding equities specialists interested in transitioning to FICC are encouraged. Familiarity withmachine learning, deep learning, or reinforcement learningapplied to limit-order-book modeling, execution, or control problems.