OpenQuant Newsletter - Edition #172
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 Set to Pay for Trading Ideas From Other Hedge Funds | Ken Griffin’s Citadel is preparing to launch a new program that will collect trading insights from other hedge funds in exchange for a fee to feed into its own quantitative strategies.
📰 AI Isn’t Replacing Credit Hedge Fund Traders Yet, Barclays Says | Hedge funds and asset managers are increasingly using artificial intelligence when investing in global credit markets, but the technology isn’t replacing human traders.
Our Top Internships
✨ TransMarket Group - Quantitative Trader Intern | a privately held global markets proprietary trading firm in Chicago.
✨ TransMarket Group - DevOps/SRE Intern | a privately held global markets proprietary trading firm in Chicago.
✨ Stevens Capital Management - Quantitative Research Analyst Intern | a quantitative hedge fund manager based in Radnor, Pennsylvania.
Our Top Full-Time Positions
✨ Voleon Group - Member of Research Staff | a technology company that applies state-of-the-art AI and machine learning techniques to real-world problems.
✨ TransMarket Group - Junior Quantitative Trader | a privately held global markets proprietary trading firm in Chicago.
✨ TransMarket Group - Junior Software Engineer | a privately held global markets proprietary trading firm in Chicago.
✨ Pimco - Quantitative Research Analyst – Client Analytics | a global leader in active fixed income with deep expertise across public and private markets.
Upcoming Events
📆 Citadel NeurIPS Travel Grant | a grant to support rising talent in STEM. Share ideas, connect with colleagues and make an impact at conferences around the world.
📆 2027 Citadel Associate Program | a program designed to develop exceptional early-career talent into associates on Citadel’s equities platform.
Educational Resources
🚀 [Quant Researcher] Interpretable Machine Learning | a book on model-agnostic methods for interpreting black box machine learning models.
🚀 [Quant Developer] The Network as a Program with Nate Foster | a talk about what happens when you bring a software mindset to network engineering.
🚀 [Quant Trader] Get to Know Us: Nicole Talks Trading at Jane Street | an overview of the day in the lift of a quant trader at Jane Street.
Weekly Quant Puzzles
Question #1 - Probability
There are three coins in a hat. One with probability 1/3 of getting heads, another with probability 2/3 of heads, and the last coin always landing on heads. I take one out and flip it twice landing on heads both times. If I flip the coin twelve more times, how many heads do you expect among these flips?
Quote of the Week
“We think the challenges, consolidation, and changes in the industry are due to one main factor: There isn’t enough alpha to make everyone happy.” - Dmitry Balyasny