High-Frequency Market Microstructure Researcher

JPMorganChase; Singapore; On-site; SGD 180,000 - 280,000; Full time

Job summary

J.P. Morgan is seeking a quantitative researcher to advance market microstructure and high-frequency trading research, framing problems, building measurement and simulation tools, and developing latency-aware models.

The role emphasizes rigorous ablation studies and deployment-ready strategies, with close collaboration with traders and developers. The ideal candidate has hands-on experience with live markets, strong Python skills, and proficiency in C++.

Qualifications

• Advanced degree (Master's, PhD) in mathematics, statistics, physics, computer science, engineering, financial engineering, or a related quantitative discipline.
• 2+ years of full-time quantitative research experience in high-frequency / medium-frequency trading, electronic market making, or systematic execution.
• Strong understanding of electronic market mechanics: order types, matching engines, queue priority, microstructure invariants, liquidity formation, and market impact/adverse selection.
• Evidence of contributing to strategies used in live markets, including a clear understanding of the research-to-production workflow and the sources of performance degradation in deployment.
• 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—ability to separate economically meaningful effects from overfitting, leakage, optimistic fills, and regime-specific artifacts.

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

Strong analytical skills

Python programming

C++ programming

Experimental design

Education

Master's or PhD in quantitative field

Tools

Python

C++

Job description

J.P. Morgan is seeking a quantitative researcher to advance market microstructure and high-frequency trading research, framing problems, building measurement and simulation tools, and developing latency-aware models.

The role emphasizes rigorous ablation studies and deployment-ready strategies, with close collaboration with traders and developers. The ideal candidate has hands-on experience with live markets, strong Python skills, and proficiency in C++.