Quantitative Trader Intern (PhD 2026)

About Tower Research Capital

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

We are 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.

Our engineers develop electronic trading infrastructure at a world-class level, solving challenging problems in 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 functionality, scalability, and performance.

Every employee plays a role in our success. Our Business Support teams build and maintain 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. These teams enable our trading and engineering groups to perform at their best.

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

Responsibilities

• Design, implement, and deploy high-frequency trading algorithms
• Work with a dedicated mentor to research and enhance existing trading strategies
• Explore trading ideas by analyzing market data and market microstructure for patterns
• Create tools to analyze data for patterns
• Contribute to libraries of analytical computations to support market data analysis and trading
• Develop, augment, and calibrate exchange simulators

Qualifications

• Availability for 4-6 months
• PhD student focusing on mathematics, statistics, physics, electrical engineering, computer science, economics, or related fields
• Strong background in C++, R, Python, or an object-oriented programming language
• Strong problem-solving abilities
• Passion for new technologies and ideas
• Ability to manage multiple tasks in a fast-paced environment
• Strong communication skills
• Interest in financial markets

Preferred Qualifications (not required)

• Past industry experience
• Experience with machine learning

Compensation

Anticipated New York weekly base salary range: $3,000–5,000.

Benefits

Our headquarters are located in the historic Equitable Building in the heart of NYC’s Financial District, with a global impact through over a dozen offices worldwide.

We foster a culture where smart, driven people thrive without egos. Our open-concept workplace, casual dress code, and well-stocked kitchens reflect our commitment to a friendly, collaborative environment where everyone is respected and great ideas win.

Our benefits include:

• Competitive compensation package
• Free breakfast, lunch, and snacks daily
• Exciting networking and social events (e.g., Broadway shows, escape rooms, cooking classes)
• Opportunities to learn from senior management across the firm
• Mentors from your alma mater and other top institutions

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.