Quantitative Researcher

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

Benefits offered by this job

Generous paid time off

Hybrid working opportunities

Free breakfast, lunch, and snacks

In-office wellness reimbursement

Company-sponsored sports and fitness

Volunteer opportunities

Social events and learning workshops

Savings plans and financial wellness

Job summary

Tower Research Capital, a leading quantitative trading firm in Illinois, is seeking an experienced Quantitative Researcher/Developer to design and implement ultra-low latency strategies, ML models, and market-data tools. You will work on high-performance infrastructure and collaborate with trading and engineering teams.

The role requires onsite presence 3+ days/week and a strong background in math, statistics, and programming.

Qualifications

• Bachelor’s degree in Mathematics/Statistics/CS or related field.
• Five years of experience as a Quantitative Researcher or Quantitative Developer or related occupation.
• At least 3 years of experience with machine learning modeling.
• Experience in low-latency trading environments.
• Familiarity with CME microstructures and market data protocols.

Responsibilities

• Creating analysis tools to research trading opportunities from market data, identifying latency requirements, alpha horizons, and PNL impact
• Developing, augmenting and calibrating exchange simulators to faithfully replay these market events
• Researching market microstructure
• Creating high to mid frequency alphas from market data
• Profiling performance of existing ultra-low latency trading strategies
• Researching, designing, implementing, and deploying new ultra-low latency trading strategies
• Creating post-trade tools to monitor trading performance and competitiveness
• Must be able to work onsite at the corporate office 3 or more days per week

Skills

Machine learning modeling

Low latency trading

Mathematics and statistics

C++

Python

CME microstructures

Financial instruments

Education

Bachelor's degree in Mathematics, Statistics, Computer Science or related field

Job description

Tower Research Capital is a leading quantitative trading firm founded in 1998. Tower has built its business on a high-performance platform and independent trading teams. We have a 25+ year track record of innovation and a reputation for discovering unique market opportunities.

Tower is home to some of the world’s best systematic trading and engineering talent. We empower portfolio managers to build their teams and strategies independently while providing the economies of scale that come from a large, global organization.

Engineers thrive at Tower while developing electronic trading infrastructure at a world class level. Our engineers solve challenging problems in the realms of low-latency programming, FPGA technology, hardware acceleration and machine learning. Our ongoing investment in top engineering talent and technology ensures our platform remains unmatched in terms of functionality, scalability and performance.

At Tower, every employee plays a role in our success. Our Business Support teams are essential to building and maintaining the platform that powers everything we do — combining market access, data, compute, and research infrastructure with risk management, compliance, and a full suite of business services. Our Business Support teams enable our trading and engineering teams to perform at their best

At Tower, employees will find a stimulating, results-oriented environment where highly intelligent and motivated colleagues inspire each other to reach their greatest potential.

Responsibilities

• Creating analysis tools to research trading opportunities from market data, identifying latency requirements, alpha horizons, and PNL impact
• Developing, augmenting and calibrating exchange simulators to faithfully replay these market events
• Researching market microstructure
• Creating high to mid frequency alphas from market data
• Profiling performance of existing ultra-low latency trading strategies
• Researching, designing, implementing, and deploying new ultra-low latency trading strategies
• Creating post-trade tools to monitor trading performance and competitiveness
• Must be able to work onsite at the corporate office 3 or more days per week

Qualifications

• Bachelor’s degree or foreign equivalent in Mathematics, Statistics, Computer Science or related field
• Five (5) years of experience in a Quantitative Researcher or Quantitative Developer position, job offered, or related occupation.

Skills with the following required:

• 3 years of experience with machine learning modeling
• Low latency trading
• Mathematics and statistics, specifically machine learning techniques that deal with large data sets
• Financial instruments and their derivatives
• CME microstructures and market data protocol
• Python for scientific computing
• C++ language for designing patterns and template meta-programming

Anticipated Illinois annual base salary range $150,000-$250,000, plus eligible for discretionary bonus.

Benefits

Tower’s headquarters are in the historic Equitable Building, right in the heart of NYC’s Financial District and our impact is global, with over a dozen offices around the world.

At Tower, we believe work should be both challenging and enjoyable. That is why we foster a culture where smart, driven people thrive – without the egos. Our open concept workplace, casual dress code, and well-stocked kitchens reflect the value we place on a friendly, collaborative environment where everyone is respected, and great ideas win.

• Generous paid time off policies
• Savings plans and other financial wellness tools available in each region
• Hybrid working opportunities
• Free breakfast, lunch, and snacks daily
• In-office wellness experiences and reimbursement for select wellness expenses (e.g., gym, personal training and more)
• Company-sponsored sports teams and fitness events (JPM Corporate Challenge, Cycle for Survival, Wall Street Rides FAR and more)
• Volunteer opportunities and charitable giving
• Social events, happy hours, treats, and celebrations throughout the year
• Workshops and continuous learning opportunities

At Tower, you’ll find a collaborative and welcoming culture, a diverse team and a workplace that values both performance and enjoyment. No unnecessary hierarchy. No ego. Just great people doing great work – together.

Tower Research Capital is an equal opportunity employer.