OpenQuant Newsletter - Edition #153
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
📰 Ex-Coatue Stock-Picker Senft Raises $2.5 Billion for Debut Fund | Former Coatue Management stock-picker Daniel Senft collected $2.5 billion for his equities-focused hedge fund (NX1 Capital), one of the largest recent hedge fund debuts.
📰 Quant Firms Join Forces to Take On Citadel Securities in US Options Flow | Virtu Financial, Optiver, Akuna Capital, and Belvedere Trading are investing in a new options intermediary, Optimal Market Technologies, to compete with Citadel Securities in the US retail options order flow market.
Our Top Internships
✨ BlackEdge Capital - Quantitative Option Pricing Intern | a proprietary trading firm specializing in options market making.
✨ JP Morgan - 2027 Markets Summer Analyst Intern | a leading global financial services firm and the largest bank in the United States.
✨ UBS - 2027 Summer Internship - Equity Research | a leading global wealth manager and Switzerland’s premier universal bank.
Our Top Full-Time Positions
✨ Aquatic Capital Management - Quantitative Researcher, PhD | a Chicago-based, quantitative investment firm that uses data-driven, systematic strategies.
✨ Goldman Sachs - Quantitative Strategist | a market maker for many types of financial products and provides clearing and custodian bank services.
✨ Goldman Sachs - Applied AI Engineer | a market maker for many types of financial products and provides clearing and custodian bank services.
✨ IMC Trading - Quantitative Trader, Equity Options | a leading global proprietary trading firm and market maker founded in 1989.
Upcoming Events
📆 Optiver - FutureFocus: Tech, Quant in Chicago | an exclusive educational program designed to give students a hands-on preview into life at Optiver.
📆 2026 Future of Finance Accelerator - APAC | a program by Point72 designed to increase awareness and access to a career in investing for students.
Educational Resources
🚀 [Quant Trader] Rationalizing Latency Competition in High-Frequency Trading | a post by Max Dama on how reducing latency in HFT improves market efficiency.
🚀 [Quant Researcher] Trend Following Spreads | a discussion on how to systematize trend on markets where liquidity does not exist on screen.
🚀 [Quant Developer] Richard Lee on Being a Quantitative Developer | what it means to be a Quantitative Developer at Citadel.
Weekly Quant Puzzles
Question #1 - Statistics
You are in a research lab in a tropical rainforest and are studying the relationship between temperature and the growth of Cacao trees. Assume you have 50 data points and find a correlation coefficient of 0.75. You decide to duplicate your 50 data points and re-calculate the correlation coefficient. How much did the correlation increase?
Quote of the Week
“Acquire worldly wisdom and adjust your behavior accordingly. If your new behavior gives you a little temporary unpopularity with your peer group…then to hell with them.” - Charlie Munger
Excellent analyse of the market dynamics; how might advanced computational methods or machine learning models further disrupt the options order flow given the new competition to Citadel Securities, an interesting developement for the field?