Quantitative Researcher - Delta One

Cumberland; Chicago (IL); Vor Ort; USD 150.000 - 250.000; Vollzeit

Zusammenfassung

DRW, a diversified trading firm headquartered in Chicago, seeks a Senior Quantitative Researcher (Delta One) to join the FICC options trading group. You will lead delta-one research, developing and validating futures-driven systematic strategies that complement the broader derivatives platform.

Collaborate with traders and developers to translate research into production strategies, build signal-generation frameworks, and implement hedging and risk-management tools across global markets.

Qualifikationen

• 2+ years of experience in quantitative research supporting systematic trading, preferably in futures and listed derivatives.
• Proven track record of developing quantitative signals or models that have been deployed in production and contributed 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.

Aufgaben

• Research, develop, and validate systematic delta-one futures strategies across global markets.
• Build and refine quantitative signal generation frameworks to support futures and options portfolios.
• Develop and evaluate futures-based hedging methodologies to improve portfolio risk management.
• 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.

Kenntnisse

Python

Quantitative research

Derivatives pricing

Backtesting

Signal generation

Model validation

Data handling

Ausbildung

Advanced degree in Mathematics/Statistics/Physics/Engineering/Computer Science

Jobbeschreibung

DRW is a diversified trading firm with over 3 decades of experience bringing sophisticated technology and exceptional people together to operate in markets around the world. We value autonomy and the ability to quickly pivot to capture opportunities, so we operate using our own capital and trading at our own risk.

Headquartered in Chicago with offices throughout the U.S., Canada, Europe, and Asia, we trade a variety of asset classes including Fixed Income, ETFs, Equities, FX, Commodities and Energy across all major global markets. We have also leveraged our expertise and technology to expand into three non-traditional strategies: real estate, venture capital and cryptoassets.

We operate with respect, curiosity and open minds. The people who thrive here share our belief that it’s not just what we do that matters–it's how we do it. DRW is a place of high expectations, integrity, innovation and a willingness to challenge consensus.

Senior Quantitative Researcher – Delta One

DRW is seeking a Senior Quantitative Researcher (Delta One) to join the FICC options trading business. This individual will serve as an embedded quantitative research lead within an established discretionary and systematic options platform, with a mandate to research, develop, and validate futures-driven systematic strategies that complement and enhance the broader FICC options franchise.

This role focuses on delta-one strategy research, quantitative signal generation, systematic futures execution research, and portfolio hedging across global futures markets. The individual will partner closely with options traders and developers to translate research into production strategies and integrate futures-based signals, directional overlays, and risk-efficient hedging frameworks into the broader derivatives platform.

This position is suited for someone with deep quantitative expertise, a demonstrated record of research contributing to trading performance, and experience developing scalable systematic models within derivatives markets.

Key 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.

Qualifications

• 2+ years of experience in quantitative research supporting systematic trading, preferably in futures and listed derivatives.
• Proven track record of developing quantitative signals or models that have been deployed in production and contributed 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.

Preferred Background

• Experience researching strategies across global futures markets, including equities, rates, commodities, and FX.
• Experience integrating options strategies within systematic futures frameworks.
• Familiarity with portfolio construction, capital allocation, and risk budgeting models.
• Experience working within or alongside an options trading desk.
• Experience supporting the full research lifecycle, from hypothesis development and empirical testing through production implementation and ongoing evaluation.
• Advanced degree in Mathematics, Statistics, Physics, Engineering, Computer Science, or a related field

The annual base salary range for this position is $150,000 to $250,000 depending on the candidate’s experience, qualifications, and relevant skill set. The position is also eligible for an annual discretionary bonus. In addition, DRW offers a comprehensive suite of employee benefits including group medical, pharmacy, dental and vision insurance, 401k (with discretionary employer match), short and long‑term disability, life and AD&D insurance, health savings accounts, and flexible spending accounts.

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