Algorithmic Trader

Simplextrading; Chicago (IL); On-site; USD 150,000 - 200,000; Full time

Benefits offered by this job

Health/dental/vision insurance

401(k) contributions

Tuition reimbursement

Employee discounts

In-office kitchen and stipends for meals

Charity match up to $2,000

Fun events and celebrations

Job summary

Simplex Trading in Chicago is looking for an Algorithmic Trader to leverage advanced quantitative techniques to develop pricing models and enhance trading strategies. Candidates should have a Bachelor’s degree in a relevant field and at least two years of experience working with option theory and volatility modeling.

This full-time position offers a competitive salary between $150,000 and $200,000, along with bonuses and comprehensive benefits including health insurance and 401(k) contributions.

Qualifications

• Bachelor’s degree (or foreign equivalent) in Finance, Mathematical Finance, Mathematics, Statistics, or a related field.
• Passed Series 57 exam.
• At least two years of experience in option theory and pricing.
• Experience in volatility modeling and fitting.

Responsibilities

• Leverage quantitative techniques for risk management and trading strategies.
• Develop models for pricing options and stress haircut calculations.
• Conduct A/B testing to refine trading parameters.

Skills

Option theory and pricing

Volatility modeling

Programming in Python

SQL proficiency

Data analysis

Education

Bachelor’s degree in Finance or related field

Tools

Unix

Linux

Job description

About Simplex

Our employees are truly our greatest asset. We have spent years building a team of talented, dedicated technologists, data‑driven traders, and expert leaders with an emphasis on our core pillars: People, Process, Trading Edge, and Technology. Simplex is an in‑office organization, helping to foster a collaborative and communicative culture.

Responsibilities

Leverage advanced quantitative techniques to build, refine, and maintain models that support risk management, pricing, and trading strategies. Develop models to replicate stress haircut calculations and deliver Python prototypes. Price options under a variety of stress scenarios and forecast expected profit or loss. Create, roll out, and maintain models capturing vol‑spot relationships, forecast interest‑rate future prices, and design algorithms to combine multiple underlying price forecasts. Enhance volatility modeling through experimental research. Conduct A/B testing to refine trading parameters, analyze market data to identify underexplored trade opportunities.

Work is at Employer's Office (230 S. LaSalle Street, Suite 8‑500, Chicago, IL 60604) with no travel involved.

Skills and Experience

• Bachelor’s degree (or foreign equivalent) in Finance, Mathematical Finance, Mathematics, Statistics, or a related field.
• Passed Series 57 exam.
• At least two (2) years of experience in any occupational title involving working with option theory and pricing.
• At least two (2) years of experience with volatility modeling and fitting, including surface dynamics and vol‑spot dynamics; option theory and pricing including derivatives pricing and futures/futures spreads.
• Experience with mathematical concepts such as calculus, linear algebra, and statistics.
• Experience with statistical methods in performing hypothesis testing and designing experiments.
• Experience with finite difference methods and error function measurements for numerical analysis.
• Experience conducting data analysis and market microstructure research.
• Experience reading and interpreting finance journals.
• Proficiency in programming tools including Python, SQL, Unix, and Linux.

Compensation

Annual base salary ranges from $150,000 to $200,000, and is influenced by a number of factors, including qualifications and experience. This role is also eligible for an annual discretionary bonus, which can be a significant portion of total compensation. This full‑time role is also eligible for other forms of compensation and benefits including health/dental/vision insurance, and 401(k) contributions.

Algorithmic Trader pay range: $150,000 – $200,000 USD

Benefits

• The Office: The kitchen is stocked with snacks, and beverages; you also have daily stipends for breakfast and lunch!
• Tuition Reimbursement: As an investment in our employees’ careers and the company’s future, we offer educational assistance to provide employees with professional development opportunities that increase their skills and enhance their contributions to the organization!
• Employee Discounts: To gyms, national brands, and more!
• Building: We are located in the Federal Reserve building. As a tenant, you have access to a building gym and a full cafeteria. We are easily accessible to all public transportation.
• Charity Match: We match up to $2,000 a year in donations to the charities of your choice!
• Fun Events: In‑person happy hours, celebrations throughout the year, game nights, video game fun, and so much more!

EEO Statement

Simplex is an Equal Opportunity Employer. We do not discriminate on the basis of any protected group status under any applicable law.