Quantitative Researcher Intern - Summer 2024

Belvedere Trading is a leading proprietary trading firm proudly headquartered in downtown Chicago. Our traders work hard to provide liquidity to the market through their market-making activities and are the masters of a diverse set of commodities, interest rates, exchange-traded funds (ETF), and equity index options. From the beginning, we began iteratively investing in our proprietary technology and committing to building our systems from the ground up. Our trading models and software systems are continually re-engineered, optimized, and maintained to stay on top of the industry. This wouldn’t be possible without the dedicated efforts of our technology teams who utilize and perfect our innovative technology solutions. 

High-performance proprietary development is the source of our success and competitive advantage at Belvedere, further fueling our passion for performance. We are a team driven by intellectual curiosity, seeking answers that will change not only how we trade in this technological age, but also the future landscape of the trading industry. We place a high premium on defining, developing, and deploying high-performance trading software using a team-based, holistic development approach. We look for passionate team members that excel and their contribution is critical to our continued success. 

Quantitative Researchers conduct analytical research and develop mathematical models, using this knowledge cross-functionally to develop and enhance our options pricing, risk management and trading operation methodologies. Quants are an essential information source and frequent collaborator with trading and technology teams. 

What our Quant Analyst Interns do

• Responsible for option modeling for multiple products such as indices, commodities, and equities 
• Run tactical tests for traders 
• Understand and work on issues ranging from methodology and technology questions to new functionality, features, and enhancement requests to meet present and future business needs and requirements 
• Research and interpret academic literature on related subjects 
• Generate ideas for quantitative strategies related to market effects, market microstructure, and other subtle marketplace changes 
• Develop, validate, and implement these strategies by applying econometrics, statistics, and stochastic modeling techniques to the financial data 

Key qualities in great candidates

• Pursuing a PHD or master’s level degree in Financial Mathematics/Computational Finance/Financial Engineering/Applied Math/Statistics or equivalent preferred 
• Proficient in Python, including algorithm development, data analysis and visualization 
• Experience in developing with other programming languages such as C++ or C# 
• Demonstrated experience analyzing large data sets 
• Familiar with options modeling 
• Experience with common methods in statistical analysis, regression, optimization and algorithm prototyping 
• Self-motivated to research and find reasonable explanations to phenomena observed in practical market environments 
• Strong communication, analytical and problem-solving skills with solid reasoning in data driven and theoretical approaches 
• Active team player motivated by a fast-paced environment 
• Graduation date of December 2024 or May/June 2025 (start date in person June 2024) 

Women and underrepresented groups frequently apply to jobs only if they meet 100% of the qualifications.

We encourage you to break that mold and apply. No candidate is perfect; all have a lot to offer.

We welcome your application.

Core Values

The secret to our award-winning culture is our Core Values: Team Belvedere, Me In Team, Own It, Iterative Innovation, and Passionate Discourse. We live and breathe these values every day.

Our Stance

Belvedere is an Equal Opportunity Employer and is committed to providing a non-discriminatory employment environment for its employees. Discrimination against employees and applicants due to race, color, religion, sex, national origin, disability, age, military, and veteran status is prohibited. Belvedere encourages initiatives to increase diversity and provide equal opportunity to all applicants and employees. Belvedere is committed to providing a positive environment in which team members are treated with respect, dignity, and courtesy. Our firm believes in a dynamic culture of inclusion and diversity, where people thrive on individual and organizational characteristics, values, experiences, and backgrounds.

Please note that Belvedere Trading does not accept unsolicited resumes from search firms or employment agencies. Any unsolicited resumes will become the property of Team Belvedere. No phone calls, please.

Any questions regarding the virtual recruiting process, please reach out to recruiting@belvederetrading.com.

Work Schedule: Regular and reliable attendance during standard business hours with the ability to be on-site prior to the start of business on occasion 

Amount of Travel Required: None