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About the Role
The Central Execution Desk is seeking a Quantitative Researcher to develop models, analytics, and decision systems that enhance execution quality across global trading teams. This role involves market impact research, transaction cost analysis, causal inference, experiment design, optimization, and execution strategy.
Responsibilities
- Research market impact, execution cost, slippage, and fill quality across global markets.
- Build models to explain and predict execution outcomes.
- Design and analyze A/B experiments to identify execution improvements.
- Apply causal inference methods.
- Develop optimization models for various execution objectives.
- Support research into centralized inventory, liquidity, risk-transfer, and crossing-style analytics.
- Contribute to research on execution algorithms.
- Build research tools, simulations, dashboards, and reports.
- Partner with traders, PMs, quant developers, and engineers to productionize research prototypes.
Requirements
- Master's or Bachelor's degree from a top-tier university in mathematics, statistics, computer science, financial engineering, physics, operations research, or a related quantitative field. PhD preferred.
- 2–5 years of quantitative research experience, ideally in execution research, market microstructure, or financial data modeling.
- Strong knowledge of statistics, time-series analysis, experiment design, optimization, machine learning, and financial markets.
- Experience working with large financial datasets.
- Strong Python skills for research, data analysis, modeling, and simulation.
- Familiarity with convex optimization, causal inference, market impact models, stochastic control is a plus.
- Good understanding of market microstructure.
- Ability to write clear research notes and explain quantitative results to traders, PMs, and engineers.
- Prior academic publications or comparable research writing are a plus.
Skills
- Python
- Statistics
- Time-series analysis
- Experiment design
- Optimization
- Machine learning
- Financial markets
- C++ (plus)
- Rust (plus)
- Convex optimization (plus)
- Causal inference (plus)
- Market impact models (plus)
- Stochastic control (plus)
- Market microstructure
Location
- NYC Financial District
Work Type
- Hybrid working opportunities
Experience Level
- 2-5 years
Education Level
- Master's or Bachelor's degree
- PhD preferred
Salary/Compensations
- $120,000 - $200,000 base salary
- Eligible for discretionary bonus
Benefits
- Generous paid time off policies
- Savings plans and other financial wellness tools
- Hybrid working opportunities
- Free breakfast, lunch, and snacks daily
- In-office wellness experiences and reimbursement
- Company-sponsored sports teams and fitness events
- Volunteer opportunities and charitable giving
- Social events, happy hours, treats, and celebrations
- Workshops and continuous learning opportunities
About the Company
- Tower Research Capital is a leading quantitative trading firm founded in 1998, known for its high-performance platform and independent trading teams.
- The company has a 25+ year track record of innovation and a reputation for discovering unique market opportunities.
- Tower employs top systematic trading and engineering talent, empowering portfolio managers with independence and global organizational scale.
- Engineers develop world-class electronic trading infrastructure, tackling challenges in low-latency programming, FPGA technology, hardware acceleration, and machine learning.
- Ongoing investment in talent and technology ensures an unmatched platform in functionality, scalability, and performance.
- Business Support teams are essential to building and maintaining the platform, enabling trading and engineering teams to perform at their best.
- Tower offers a stimulating, results-oriented environment where colleagues inspire each other.
- The company fosters a culture where smart, driven people thrive without egos, promoting a friendly, collaborative environment with an open concept workplace and casual dress code.
- Tower values performance and enjoyment, with no unnecessary hierarchy or ego.
Equal Opportunity
- Tower Research Capital is an equal opportunity employer.