OpenQuant Newsletter - Edition #82
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 Securities, Jane Street on Track for Record Revenue Haul | First-half net trading revenue rose 81% y/y at Citadel and 78% y/y at Jane Street, according to Bloomberg, both well ahead of the pace needed for an all-time high annual total.
📰 Bridgewater Associates Plans to Expand Offices to NYC | Bridgewater Associates, one of the world’s largest hedge fund managers, is planning to lease space in Manhattan, for offices that would complement its headquarters in Westport.
Our Top Internships
✨ Global Atlantic Financial Group - Actuarial Intern | a leading US retirement and life insurance company, with a broad range of competitive and innovative products..
✨ AQR - 2025 Risk Summer Analyst | a global investment management firm dedicated to delivering results for clients.
✨ AQR - 2025 Portfolio Solutions Group Summer Analyst | a global investment management firm dedicated to delivering results for clients.
✨ Tower Research Capital - Quantitative Trader Intern | a trading and tech company that has built some of the fastest, most sophisticated trading platforms in the world.
Our Top Full-Time Positions
✨ Edgestream Partners - Infrastructure Engineer | a firm devoted to institutional investment management in an ever-changing world.
✨ Wolverine Trading - Floor Trader | a proprietary trading group engaged in market making and valuation arbitrage across global markets.
✨ Voloridge Investment Management - Research Analyst | a quantitative & systematic investment firm using data science and math to exploit alpha opportunities.
✨ Capstone Investment Advisors - Quantitative Analyst | a global, alternative investment management firm operating across a range of derivatives-based strategies.
Upcoming Events
📆 Citadel Terminal Competition | an online programming competition, from Citadel, of technical and creative problem-solving.
📆 Optiver US Insights Day: Women in Tech & Trading | dive into the fundamentals of trading and gain insights into the world-class trading systems used at Optiver.
Educational Resources
🚀 [Quant Researcher] CS324 - Advances in Foundation Models | learn the fundamentals about the modeling, systems and ethical aspects of foundation models.
🚀 [Quant Researcher] How might LLMs store facts | a video unpacking the multilayer perceptrons in a transformer, and how they may store facts.
🚀 [Quant Trader] Optiver - Why trade execution still matters | a blog post by Optiver on why trade execution still matters in wake of growing market regulation.
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
“A good quant must be a mixture, too—part trader, part salesperson, part programmer, and part mathematician.” - Emanuel Derman, My Life as a Quant: Reflections on Physics and Finance