OpenQuant Newsletter - Edition #105
Quant News, Jobs & Internships, Upcoming Events, Puzzles and More!
Hello, fellow Quants!
Welcome to the OpenQuant newsletter - a publication dedicated to democratizing quantitative finance by sharing the latest news, jobs & internships, educational opportunities, and upcoming events in the industry.
Here’s what we have in this week’s edition:
Quant News - catch up on what’s happening around the quant industry.
Quant Jobs - discover the latest internships/jobs to land your next quant role.
Upcoming Events - find community events to meet fellow quants.
Educational Resources - latest research papers & courses to learn quant concepts.
Quant Puzzle - keep your interview skills sharp with a weekly brainteaser.
News Headlines
📰 Citadel Paid $943m for Retail US Equity, Options Order Flow in Nine Months | Citadel paid $732M for options & $219M for cash equity order flow between Apr-Dec 2024, according to filings from top 5 brokers taking part in the payment for order flow.
📰 Marshall Wace, DE Shaw, Millennium Helped Drive China ADR Surges | Global managers Marshall Wace, DE Shaw, and Millennium propelled double-to-triple digit share price surges in US-listed Chinese companies since Sept., according to filings.
Our Top Internships
✨ Tower Research Capital - Software Engineer Intern | a leading quantitative trading firm known for its high-performance electronic trading platforms.
✨ Northwestern Mutual - Public Investments Quantitative Analyst Intern | a financial partner that offers personalized plans, top-rated services and life insurance.
✨ GTS - Quantitative Trading Intern - Fall 2025 Internship | an American proprietary trading and market making firm headquartered in New York.
✨ Peak6 - Data Science Intern | a financial services company that provides capital and strategic support to businesses.
Our Top Full-Time Positions
✨ Aquatic Capital Management - Quantitative Researcher | a private investment firm specializing in quantitative trading strategies.
✨ Point72 - Quantitative Researcher | a leading global alternative investment firm led by Steven A. Cohen.
✨ Guggenheim Partners - Quantitative Analyst | a global investment firm that offers services such as asset management, investment banking, and capital markets.
✨ Akuna Capital - Senior Software Engineer | a trading firm that specializes in derivatives market making and options trading.
Upcoming Events
📆 4/4 Cubist Systematic Strategies Hackathon | collaborate in teams to build a program using a large NY-focused dataset and present to a panel of judges
Educational Resources
🚀 [Quant Trader] Fooled by Randomness | an investigation of luck, uncertainty, probability, human error, risk, and decision-making in a world we don’t understand.
🚀 [Quant Researcher] AI Agents | a blog post covering an overview of agents and two critical aspects that determine their capabilities: tools and planning.
🚀 [Quant Developer] Introduction to CUDA Programming for Python Developers | a crash course on CUDA programming in the Python programming language.
Weekly Quant Puzzles
Question #1 - Probability
There are three train cars: a blue one, a red one, and a green one. This train has a conductor whose job it is to disconnect the train cars in the back and put them in the front. They can do this as many or as few times as they want. If the three train cars are randomly ordered, what is the probability that the conductor can rearrange it into rainbow order? (Note: Here, rainbow order means red, then green, then blue)
Quote of the Week
“We are at what is widely viewed as a real inflection point in the evolution of technology, with the rise of large language models. Some are convinced that within three years almost everything we do as humans will be done in one form or another by LLMs and other AI tools. For a number of reasons, I am not convinced that these models will achieve that type of breakthrough in the near future.” - Ken Griffin