OpenQuant Newsletter - Edition #118
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
📰 TD Folds US Muni, Credit Voice Teams Into Automated Trading | TD Bank is folding its US municipal fixed income business into its electronic trading unit, as the firm looks to streamline operations amid a boom in automated trading.
📰 Ex-JPMorgan Analyst Builds a 51%-a-Year Annual Returns Quant Powerhouse in Taiwan | In less than five years, Andre Liu has quietly built a quant powerhouse in Taiwan, drawing awe from other market participants.
Our Top Internships
✨ Tower Research Capital - Quantitative Researcher Intern | a computerized trading firm and hedge fund manager, primarily engaged in high-frequency trading.
✨ BNP Paribas - Global Markets, Equity Research Intern | a French multinational universal bank and financial services holding company.
✨ MGIC - Quantitative Risk Intern | a financial services company that helps facilitate homeownership by providing mortgage insurance to lenders.
Our Top Full-Time Positions
✨ Two Sigma - Quantitative Software Engineer | a financial company that uses data analysis, machine learning, and advanced algorithms to manage investments.
✨ Peak6 - Quantitative Researcher | an American financial services company dealing in options proprietary trading, investment management, and fintech.
✨ Bridgewater Associates - Trading Associate | a global investment management firm primarily known for its institutional portfolio management services.
✨ TransMarket - Senior FX Futures Trader | a global, privately held proprietary trading firm specializing in quantitative trading and technology.
Upcoming Events
📆 Jane Street Real-Time Market Data Forecasting | build a model using real-world data while getting a glimpse into the daily challenges of successful trading.
Educational Resources
🚀 [Quant Trader] How Not to Be Wrong: The Power of Mathematical Thinking | A great, lightweight, introduction to applied math and probability.
🚀 [Quant Developer] Two Sigma - Software Engineering Practice Interview | A mock interview with a prospective software engineer candidate applying to Two Sigma.
🚀 [Quant Researcher] An Introduction to Statistical Learning | a broad treatment of key topics in statistical learning and contemporary tools for data analysis.
Weekly Quant Puzzles
Question #1 - Probability
You are given a rooted tree. On each step, you randomly choose a node and remove the subtree rooted by that node, and the node itself, until all subtrees have been removed and only the root remains. Find the expected number of steps in this process.
Quote of the Week
“I had to learn to trust people, and I realized that success was going to be born in hiring really bright people - very self-motivated, very able to make good judgment calls day in and day out.” - Ken Griffin