OpenQuant Newsletter - Edition #111
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
📰 Schonfeld Raising Cash in New Hedge Fund for Quant Trading Teams | The firm’s Alpha fund started trading on Tuesday with >$300 million from existing & new investors and is targeting $1 billion in the next 12-18 months according to Bloomberg.
📰 Gerko’s XTX Markets Earnings Rise 50% on Global Trading Surge | Earnings at algorithmic-trading firm XTX Markets increased more than 50% last year as the firm’s revenue from market making and proprietary trading jumped.
Our Top Internships
✨ Belvedere Trading - Quantitative Researcher Intern | a leading proprietary trading firm proudly headquartered in downtown Chicago.
✨ Neuberger Berman - Fixed Income Rotational Quantitative Program Analyst | an independent, global asset management firm, serving institutions/investors worldwide.
✨ Dodge & Cox - 2025 Portfolio Strategy Research Associate | an American mutual fund company that provides professional investment management services.
Our Top Full-Time Positions
✨ Vatic Labs - Quantitative Trader | a global liquidity provider, where traders, AI researchers, and technologists collaborate to develop autonomous trading agents.
✨ Vatic Labs - Quantitative Researcher | a global liquidity provider, where traders, AI researchers, and technologists collaborate to develop autonomous trading agents.
✨ Peak6 - Quantitative Researcher | a proprietary equity options trading firm and financial services company headquartered in Austin, Texas.
✨ Belvedere Trading - Quantitative Researcher | a leading proprietary trading firm proudly headquartered in downtown Chicago.
Upcoming Events
📆 Citadel - The Europe Terminal | an online programming competition of technical and creative problem-solving hosted by Citadel.
Educational Resources
🚀 [Quant Trader] Statistical Consequences of Fat Tails | a book that explores the misapplication of conventional statistical techniques to fat tailed distributions.
🚀 [Quant Trader] Rationalizing Latency Competition in High-Frequency Trading | an article detailing the benefits of high-frequency trading and latency competition.
🚀 [Quant Developer] Making OCaml Safe for Performance Engineering | an overview of how Jane Street extended OCaml’s type system to for high-performance systems.
Weekly Quant Puzzles
Question #1 - Probability
A stamp collector is attempting to collect 4 different stamp types. If she is equally likely to find each type of stamp, what is the expected number of stamps that she would have to find in order to find three different unique stamp types?
Quote of the Week
“Fair value and change are therefore two sides of the same coin; the more ways in which a security can lose value from a future market move, the less it should rationally be worth today, and hence the mantra: more risk, more return.” - Emanuel Derman