Hi WSO, I now received an interview invitation from JP for ATS strat position, I'm wondering what type of interview questions will be asked? My background is more quant involved with couple algo trading competitions experience. Also, I noticed that JP has EMM(electronic market making) team as well, what are the difference between EMM and ATS? thanks
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EMM = build algos to sit on the bid and offer, all the time, try to make the bid/offer spread (1/2 - 1 tick) over and over and over....hedge with related securities on the curve when necessary when the market moves away from the current bid/offer.
ATS = build algos to prop trade..not trying to make the bid/offer spread...rather trying to take bigger swings (bigger = more ticks per trade...not bigger size...so maybe 5-10 ticks per trade rather than 1/2-1 tick...ATS has longer holding periods...minutes --> hours, rather than seconds)
thanks for the reply! I have done some research on Linkedin and noticed that most of traders at EMM group are graduated from ivys, compared to people who work inside ATS, are from quant programs(less prestigious). But the way you explained the difference between EMM and ATS, it sounds like there is more to learn in ATS and the bonus maybe better since the more risk is taken on the ATS side? Does is also imply that working in ATS team as a quant have a better exit op rather than working as a trader in EMM?
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