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About the Role

As a Quantitative Research Intern, you will solve challenging problems in a trading environment using statistical algorithms, machine learning, and derivatives pricing theory. You will focus on non-latency sensitive investment opportunities and multi-asset class derivatives strategies, emphasizing innovative research and collaboration. You will gain a deeper understanding of quantitative trading and use custom research infrastructure for simulation, back-testing, and validation.

Responsibilities

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.

Requirements

Pursuing a Bachelor’s, 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 2027 and August 2028.
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.
Excellent written and verbal communication skills to report research results as well as methodologies.

Skills

Python
numpy
pandas
scikit-learn
Statistics
Optimization
Machine Learning
Artificial Intelligence
Quantitative Finance
Probability theory
Stochastic calculus
Numerical algorithms
Finite differences
Monte Carlo simulation
Natural Language Processing
High-Performance Computing

Location

Chicago
New York City

Work Type

Internship
Full-time

Experience Level

Intern
Entry Level

Education Level

Bachelor's Degree
Master's Degree
PhD

Salary/Compensations

$250,000 to $300,000

Benefits

Fully furnished apartments located close to the office
Mentorship program
Options course taught by an experienced trader
Technology immersion course

About the Company

DRW is a diversified trading firm with over 3 decades of experience bringing sophisticated technology and exceptional people together to operate in markets around the world.
We value autonomy and the ability to quickly pivot to capture opportunities, so we operate using our own capital and trading at our own risk.
Headquartered in Chicago with offices throughout the U.S., Canada, Europe, and Asia, we trade a variety of asset classes including Fixed Income, ETFs, Equities, FX, Commodities and Energy across all major global markets.
We have also leveraged our expertise and technology to expand into three non-traditional strategies: real estate, venture capital and cryptoassets.
We operate with respect, curiosity and open minds.
The people who thrive here share our belief that it’s not just what we do that matters–it's how we do it.
DRW is a place of high expectations, integrity, innovation and a willingness to challenge consensus.

Equal Opportunity

For more information about DRW's processing activities and our use of job applicants' data, please view our Privacy Notice at https://drw.com/privacy-notice.
California residents, please review the California Privacy Notice for information about certain legal rights at https://drw.com/california-privacy-notice.