High-Frequency Market Microstructure Researcher (Associate/VP)

JPMorganChase; Greater London; On-site; GBP 120,000 - 190,000; Full time

Job summary

JPMorganChase is seeking a Market Microstructure Researcher within the AI Market Lab to frame problems, build measurement and simulation tooling, and develop robust, latency-aware models for live trading across FX, rates, commodities, and equities.

The role emphasizes research-forward work near live systems, with a track record in live-market strategies and strong Python and C++ programming skills. London-based, on-site, high-impact environment.

Qualifications

• Advanced degree or equivalent practical experience in mathematics, statistics, physics, computer science, engineering, financial engineering, or a related quantitative discipline.
• Relevant full-time quantitative research experience in high-frequency / medium-frequency trading, electronic market making, or systematic execution.
• Strong programming and data-analysis skills in Python; proficiency in C++ or another high-performance language is highly desirable.
• Demonstrated rigor in experimental design and evaluation.

Responsibilities

• Analyze high-frequency market data, including Level 2 and, where available, Level 3 or Level 4 order-book and order-event data, to identify predictive structure and trading opportunities.
• Develop alpha signals and trading features based on order flow, liquidity, queue dynamics, price formation, cross-venue behavior, and short-horizon market response.
• Design, backtest, and implement market‑making and risk‑taking strategies, including pricing, order placement, cancellation, queue‑position management, fill‑probability estimation, and inventory control.
• Develop realistic research and simulation methodologies incorporating latency, fees, rebates, market impact, adverse selection, and operational constraints.
• Optimize strategy performance across signal generation, portfolio or position sizing, execution, and intraday risk management.
• Work closely with traders, quantitative developers, technology partners, exchanges, and ECNs to move strategies into production and improve them using live performance and markout analysis

Skills

Python

C++

Quantitative analysis

High-frequency trading

Research

Education

Advanced degree in quantitative field

Job description

JPMorganChase is seeking a Market Microstructure Researcher within the AI Market Lab to frame problems, build measurement and simulation tooling, and develop robust, latency-aware models for live trading across FX, rates, commodities, and equities.

The role emphasizes research-forward work near live systems, with a track record in live-market strategies and strong Python and C++ programming skills. London-based, on-site, high-impact environment.