OpenQuant Newsletter - Edition #127
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
📰 Goldman Returns as ETF Lead Market Maker After Eight-Year Exit | Goldman Sachs Group is back in the lead market-making game for ETFs, after an eight-year hiatus, reviving its presence in a corner of finance now dominated by trading firms.
📰 Citadel Securities Wins Case Over SEC Audit Trail Funding | Citadel Securities and a financial-industry trade group won a suit challenging the funding for an SEC market-tracking database that was set to cost Wall Street billions of dollars in fees.
Our Top Internships
✨ Marshall Wace - Technology Intern | a global alternative investment firm known for its quantitative and fundamental investment strategies.
✨ Geneva Trading- Quantitative Trading Internship | a leading global proprietary trading company with over 25 years of experience in the listed derivatives markets.
✨ Five Rings - Quantitative Researcher Intern | a proprietary trading firm that combines strategy, innovation, and technology to trade in global markets.
✨ Five Rings - Quantitative Trader Intern | a proprietary trading firm that combines strategy, innovation, and technology to trade in global markets.
Our Top Full-Time Positions
✨ Renaissance Technologies - Research Engineer | a quantitative investment management firm known for its use of mathematical and statistical models.
✨ Old Mission Capital - Quantitative ETF Trader | a global quantitative market maker founded in 2008 and based in Chicago, Illinois.
✨ AQR Capital Management - Market Risk Analyst | a global investment management firm known for its quantitative, research-driven approach to investing.
✨ Wolverine Trading - HPC Engineer | a proprietary trading group engaged in market making and valuation arbitrage across global markets.
Upcoming Events
📆 Five Rings Capital - Winternship | receive mentorship from experienced software developers and be immersed in trading system development at Five Rings.
Educational Resources
🚀 [Quant Trader] High Frequency Trading | a book covering the latest research on portfolio management techniques for high-frequency trading.
🚀 [Quant Researcher] How do AI videos actually work? | A video on diffusion models, CLIP, and the math of turning text into images.
🚀 [Quant Developer] The Thermodynamics of Trading | a podcast episode with the “physical engineering” team at Jane Street.
Weekly Quant Puzzles
Question #1 - Brainteaser
Once upon a time, an Arabian sultan captured 50 wise men and kept them in separate rooms. Every minute, the sultan would call one prisoner into his room where he would have a glass rested on the table in front of him. The wise men could choose to turn the glass over or do nothing.
The only way for the wise men to be released was if one of them correctly stated that they have all been called to the sultan at least once. If the statement was wrong, every wise man would be executed. Before the wise men were imprisoned in separate rooms, they were allowed to communicate only once.
Does there exist a strategy that the wise men can use to ensure that everyone has been called by the sultan at least once before making the statement?
Quote of the Week
“Our knowledge can only be finite, while our ignorance must necessarily be infinite” - Karl Popper