Quantitative Trading & Research - Market Microstructure & High-Frequency - Associate

Fairygodboss; New York (NY); On-site; USD 180,000 - 280,000; Full time

Job summary

JPMorganChase's Quantitative Trading & Research (QTR) group in New York seeks an Associate or Vice President to advance AI market lab work on market microstructure and high-/medium-frequency trading. You will frame problems, build measurement tools, run ablation studies, and develop robust strategies.

This research-forward role requires experience with live trading systems, production workflows, and collaboration with traders and developers to translate insights into latency-aware designs.

Qualifications

• 2+ years of full-time quantitative research in high-/medium-frequency trading.
• Strong understanding of order types, matching engines, queue priority, liquidity formation and microstructure invariants.
• Experience with live markets and production workflows; research-to-production understanding.
• Strong Python; C++ or another high-performance language desirable.
• Rigorous experimental design to avoid overfitting, leakage and regime-specific artifacts.
• Ownership or leadership of a trading or research workstream is a plus.

Responsibilities

• Analyze market data across multiple levels to identify predictive structure and trading opportunities.
• Develop alpha signals and features based on order flow, liquidity and price formation.
• Design, backtest, and implement market-making and risk-taking strategies.
• Develop realistic research and simulation methodologies including latency and market impact.
• Optimize strategy performance across signal generation, sizing, execution and intraday risk.
• Collaborate with traders, developers, exchanges, and ECNs to move strategies into production.

Skills

Market microstructure

High-frequency trading

Python

C++

Experimental design

Education

Advanced degree

Job description

Job Description

The Quantitative Trading & Research (QTR) group is responsible for systematic trading across FX, Rates, Commodities, Credit, Equity and a wide range of markets. Within QTR, AI Market Lab brings together quantitative research, modern artificial intelligence, market microstructure, and high-performance engineering to develop the next generation of electronic trading capabilities. Our work spans signal research, pricing, market making, execution, portfolio construction, risk management, and the production systems that support them. We are hiring globally across New York, London, Singapore, and Hong Kong.

Job Summary

As an Associate or Vice President in the QTR Team, you will come with deep expertise in market microstructure and high- to medium-to-high-frequency trading to drive research on how electronic markets behave at fine time scales-and how that structure can be converted into robust, deployable systematic strategies.

This is a research-forward role. You will frame problems, build measurement and simulation machinery, run careful ablation studies, and develop models/strategies that hold up across venues, regimes, and operational constraints. The ideal candidate has worked close to live trading systems and can translate research insights into execution- and latency-aware designs.

Job 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
• .

Required 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 understanding of electronic market mechanics: order types, matching engines, queue priority, microstructure invariants, liquidity formation, and market impact/adverse selection.
• Evidence of contributing to strategies used in live markets, including a clear understanding of the research-to-production workflow and the sources of performance degradation in deployment.
• 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.

Preferred Qualifications

• Experience independently owning a strategy, managing a trading book, or leading a quantitative research workstream.
• Deep expertise in one or more areas: high-frequency market making, short-horizon alpha, execution research, multi-venue routing/optimization, or microstructure modeling.
• Experience across FICC markets or multiple asset classes; outstanding equities specialists interested in transitioning to FICC are encouraged.
• Familiarity with machine learning, deep learning, or reinforcement learning applied to limit-order-book modeling, execution, or control problems.

ABOUT US

JPMorganChase, one of the oldest financial institutions, offers innovative financial solutions to millions of consumers, small businesses and many of the world's most prominent corporate, institutional and government clients under the J.P. Morgan and Chase brands. Our history spans over 200 years and today we are a leader in investment banking, consumer and small business banking, commercial banking, financial transaction processing and asset management.

We offer a competitive total rewards package including base salary determined based on the role, experience, skill set and location. Those in eligible roles may receive commission-based pay and/or discretionary incentive compensation, paid in the form of cash and/or forfeitable equity, awarded in recognition of individual achievements and contributions. We also offer a range of benefits and programs to meet employee needs, based on eligibility. These benefits include comprehensive health care coverage, on-site health and wellness centers, a retirement savings plan, backup childcare, tuition reimbursement, mental health support, financial coaching and more. Additional details about total compensation and benefits will be provided during the hiring process.

We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. We also make reasonable accommodations for applicants' and employees' religious practices and beliefs, as well as mental health or physical disability needs. Visit our FAQs for more information about requesting an accommodation.

JPMorgan Chase & Co. is an Equal Opportunity Employer, including Disability/Veterans

ABOUT THE TEAM

J.P. Morgan's Commercial & Investment Bank is a global leader across banking, markets, securities services and payments. Corporations, governments and institutions throughout the world entrust us with their business in more than 100 countries. The Commercial & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world.