Short Term Market Analysis Intern

M2 EDF Trading Markets Limited (Paris branch); Paris; Sur place; EUR 20 000 - 40 000; Plein temps

Résumé du poste

A leading energy trading firm in Paris is offering a 6-month internship focused on improving arbitrage strategies in the energy markets. You will analyze liquidity and enhance submission strategies between auctions and continuous trading. Proficiency in Python and quantitative modelling is essential. This role involves data analysis, execution strategy development, and performance evaluation while working 35 hours a week from Monday to Friday.

Qualifications

• Proficient in Python development.
• Strong background in quantitative and statistical modelling.
• Good communication skills.

Responsabilités

• Perform analysis of intra-day auction results and orders’ execution.
• Extract relevant statistics and indicators.
• Elaborate submission strategies based on heuristics.
• Analyse performance and iterate on design.
• Showcase results for implementation in production.

Connaissances

Python development

Quantitative and statistical modelling

Communication skills

Description du poste

Description

The Short-Term Analytical Team is an operational team with the following structure :

• 6 market analysts and a manager supporting the trading desks on weekdays: 3 analysts are working on the European intra-day market from Paris; 3 analysts are working on the day-ahead and week-ahead markets from London

During their shift they analyse the European power system as a whole in order to improve price forecasting and trading strategies.

• 7 optimisation analysts, a deputy and a manager dedicated to the EDF portfolio: They work 7d / 7 (working hours) from Paris. They optimise the market orders for EDF assets on the week-ahead and day-ahead horizons, in particular for the daily European spot auction. The available flexibility of the EDF assets is translated into market orders in an optimal manner, in order to have an economically efficient day-ahead electricity market and asset dispatch.

• 2 analytics engineers, specializing in optimisation and software development, with an engineering manager.

Position purpose

Auctions are a central mechanism of the day-ahead and intra-day power markets that run in parallel of continuous OTC trading sessions. Auction clearing prices and continuous trading prices are influenced by liquidity - among other factors - which itself varies between auctions and continuous trading. It can vary depending on delivery hours, the number of market participants, their flexible assets, and even the interconnector capacity between countries.

In such markets, it is thus essential to balance how the flexibility of EDF’s power plants is offered. The main goal of the internship is to improve the arbitrage strategy between auctions and continuous market, by better anticipating uncertainty surrounding the available liquidity.

First, the internship will focus on analysing liquidity and execution of market orders on auctions and continuous trading. Next, we will explore different strategies for creating orders to enhance the arbitrage between the auction and the continuous trading, while ensuring an accurate representation of asset costs.

If favourable, the results will be integrated in the submission strategies of EDF’s assets on the intra-day market.

Main responsibilities

• Perform analysis of intra-day auction results and orders’ execution, compared with trading done in OTC
• Extract relevant statistics and indicators
• Elaborate submission strategies, first based on simpler heuristics. Compare them with current methods.
• Analyse the performance and iterate, improving on the design
• Analyse the results and showcase them, in order to allow an implementation in production

Person specifications & Technical requirements

Must be proficient in :

• Python development
• Quantitative and statistical modelling / general data science
• Communication skills

Knowledge or at least curiosity around the following would be appreciated :

• Energy markets
• Data management
• Financial mathematics

Duration : 6 months

Hours of work : 35 hours per week, Monday to Friday