quant trading

quant trading career advice

blue-horseshoe's picture
by blue-horseshoe User's RSS Feed (Chimp, 3 Banana Points Points) on 2/16/10 at 8:18am

I was graduated from one of the top schools with MS in Numerical Math, during my masters I worked on developing a library of numerical methods, mostly dealing with PDEs (c/c++ and fortran). I have good knowledge of statistical analysis, worked with time series (mostly weather forecasting models). I was part-time developer of corporate software (databases/erp-systems) and eventually worked as a system integrator for a big multinational corporation(). After the graduation I tried to land a job in finance but without much success – it was 2007, investment banks only started opening offices here in Moscow, I got a couple of interviews with major IB but they didn’t hire anyone (well maybe they did but that’s what I heard). Now I want to give it a 2nd shot. As I have more financial freedom now, I’ll gladly accept even unpaid internship to make transition smoother. My ideal position would be in quant trading but here in Moscow we don’t have hedge funds, presence of IBs is very limited and the whole finance industry is not very well developed (no entry-level positions).

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You NEED To Read This Book

Edmundo Braverman's picture
by Edmundo Braverman User's RSS Feed Certified User (Neanderthal, 2937 Banana Points Points) on 2/10/10 at 4:08am
The Quants.jpg

It's not often that I'm surprised by a book about Wall Street. Let's face it; there are only so many ways you can tell the same story. So my expectations weren't very high when I bought The Quants: How a New Breed of Math Whizzes Conquered Wall Street and Nearly Destroyed It. I was expecting just another book about the crisis. Boy, was I in for a shock.

The book starts out just like every other Liar's Poker knockoff. The first chapter uses a big money Wall Street poker game to introduce the key players. It's narrative non-fiction; not bad, but nothing to write home about. From there the book explodes, though, and reveals the desperate quest for Alpha that has been going on since the 1960's from academic labs all the way to the major quant funds of today. I'm serious; stop whatever it is you are doing and go read this book. Here's why:

Whether or not you have faith in quantitative modeling, whether or not you believe in the very existence of Alpha, you cannot escape the fact that the financial markets are controlled in large part by quants and their Frankenstein-like creations. The emergence of high-frequency trading, stat arb, dark pools, and the various other machinations of the quants account for an ungodly percentage of the average daily volume of the markets. This book explains in plain English the various strategies and theories that guide today's markets.

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Quant trading: electronic options market making vs. delta one vs. high frequency FX, which one is better?

losemind's picture
by losemind User's RSS Feed (Monkey, 31 Banana Points Points) on 9/25/09 at 11:11pm

Hi all,

Suppose you are facing a choice of career and you have to choose among the following three (all are Quant trading):

1. Electronic options market making
2. Equities Delta One
3. High frequency FX

All of these three jobs have high frequency trading flavor and all are considered as quant trading. And you role is quant/developer for all these three positions, which one is better?

Thanks a lot!

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