Summer Trader

Consisted of three rounds:
1st Round: Phone interview with a trader consisting of probability questions that used Bayesian Theorem and combinations and permutations. Not too difficult. About 5 questions with no paper and pen taking up 20 minutes and had to get all to almost all of them right to move on.
2nd Round: Phone interview with a director consisting of more probability questions that were more difficult and I was allowed to use paper and pen. The question was given, I was expected to take as long as I wanted to solve it, and then give the answer with a brief explanation and reasoning behind them. Although the director emphasized that getting them correct was the most important thing, not time, I began to get the feeling that I couldn't take more than 3-5 minutes per questions as she began to ask if I got it after 5 minutes. Got all of them correct eventually with some hints, and moved to superday.
Final Rounds - Flown out to SIG, more 1-on-1 and 2-on-1 interviews with traders and directors that were challenging involving probability - confidence intervals, distributions, etc. and brain teasers. Met with traders all throughout the floor learning about what they did.