Delta-One Quant Researcher: Futures Signals & Hedging

DRW; Chicago (IL); On-site; USD 150,000 - 250,000; Full time

Benefits offered by this job

Medical, Pharmacy, Dental, and Vision

401k with discretionary employer match

Disability, Life Insurance

Health Savings Accounts and Flexible 2

Job summary

DRW is seeking a Senior Quantitative Researcher (Delta One) to lead embedded research within the FICC options platform. You will develop and validate delta-one futures strategies, generate quantitative signals, and create hedging frameworks across global markets, working alongside traders and developers to productionize models.

Ideal candidates have deep quantitative expertise, production-ready research, and a track record of improving trading performance.

Qualifications

• 2+ years of experience in quantitative research supporting systematic trading.
• Proven track record of developing quantitative signals or models deployed in production and contributing to trading performance.
• Strong understanding of derivatives pricing, volatility dynamics, and risk modeling.
• Deep experience in signal research, statistical modeling, and alpha generation.
• Expertise in research design, backtesting, and model validation, including addressing overfitting, data leakage, and implementation costs.
• Fluency in Python and experience working with large-scale financial datasets.
• Strong knowledge of market microstructure and execution modeling.
• Ability to independently lead research projects while collaborating effectively with traders and developers.

Responsibilities

• Research, develop, and validate systematic delta-one futures strategies across global markets, including rates, FX, commodities, and equities.
• Build and refine quantitative signal generation frameworks to support both standalone futures strategies and options portfolios.
• Develop and evaluate futures-based hedging methodologies to improve portfolio risk management across the FICC options business.
• Research directional options overlays grounded in quantitative futures signals, partnering with traders on implementation and evaluation.
• Model and analyze strategy and portfolio risks, including exposure, volatility, liquidity, and cross-asset correlations.
• Partner closely with traders, developers, and trading infrastructure teams to productionize research, establish model monitoring, and improve execution.
• Conduct rigorous research, backtesting, out-of-sample validation, and performance attribution, incorporating realistic transaction costs and execution constraints.
• Analyze live strategy performance to identify model weaknesses, changing market conditions, and opportunities for improvement.
• Continuously refine models to improve signal quality, robustness, scalability, and capital efficiency.
• Develop quantitative frameworks to inform portfolio construction, capital allocation, and risk budgeting within the FICC platform.

Skills

Python

Quantitative research

Backtesting

Signal generation

Derivatives pricing

Data analysis

Risk modeling

Collaboration with traders

Execution modeling

Education

Advanced degree in Mathematics, Statistics, Physics, Engineering, Computer Science, or related field

Job description

DRW is seeking a Senior Quantitative Researcher (Delta One) to lead embedded research within the FICC options platform. You will develop and validate delta-one futures strategies, generate quantitative signals, and create hedging frameworks across global markets, working alongside traders and developers to productionize models.

Ideal candidates have deep quantitative expertise, production-ready research, and a track record of improving trading performance.