High-Frequency Quant Researcher - Market Microstructure

J.P. Morgan; Worcester (MA); On-site; USD 220,000 - 320,000; Full time

Job summary

J.P. Morgan is seeking a quantitative researcher with deep expertise in market microstructure and high-frequency trading to drive research on how electronic markets behave at fine time scales and how that research translates into robust, deployable systematic strategies.

You will frame problems, build measurement and simulation machinery, run ablation studies, and develop models/strategies that hold up across venues and regimes, with live-trading experience a plus.

Qualifications

• Advanced degree or equivalent practical experience 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 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

Python

C++

Data analysis

Education

Advanced degree in quantitative field

Job description

J.P. Morgan is seeking a quantitative researcher with deep expertise in market microstructure and high-frequency trading to drive research on how electronic markets behave at fine time scales and how that research translates into robust, deployable systematic strategies.

You will frame problems, build measurement and simulation machinery, run ablation studies, and develop models/strategies that hold up across venues and regimes, with live-trading experience a plus.