AI Research Internship - XTY Labs

The Firm

XTX Markets is a leading algorithmic trading firm that uses state-of-the-art machine learning technology to produce price forecasts for over 50,000 financial instruments across equities, fixed income, currencies, commodities, and crypto. These forecasts are used to trade on exchanges and alternative trading venues, offering differentiated liquidity directly to clients worldwide. The firm trades over $250 billion daily across 35 countries and employs over 250 people based in London, New York, Singapore, Paris, Bristol, Mumbai, Yerevan, and Kajaani.

We leverage the talent of our people, modern computational techniques, and advanced research infrastructure to analyze large datasets across markets quickly and efficiently, maximizing the effectiveness of our proprietary trading algorithms. We actively seek new methods and ideas. Our trading models have evolved over the last decade from econometric methods to trees, neural networks, and modern deep learning architectures.

XTX Markets possesses an unrivaled level of computational resources in the trading industry, with a growing research cluster currently containing over 25,000 GPUs and 650 petabytes of usable storage. Our teams include world-class researchers with backgrounds in pure mathematics, programming, physics, computer science, and machine learning. We are also constructing a large-scale data center in Finland to future-proof our computational capabilities.

At XTX Markets, technology is our business. We are a diverse organization attracting outstanding talent from various industry backgrounds. We emphasize teamwork, collaboration, openness, and respect for each other, our clients, and the market. Our culture is non-hierarchical and values every individual. We strive for excellence in everything we do.

XTY Labs

XTY Labs, a division of XTX Markets established in 2024, stands at the intersection of finance and cutting-edge machine learning research. The lab is a home for those eager to pioneer the future of algorithmic trading, focusing on developing and applying novel machine learning techniques to financial data.

Located in Hudson Yards, New York City, XTY Labs offers a state-of-the-art, academia-like workspace designed to inspire creativity and innovation. Led by Research Director Dr. Atlas Wang (Link), researchers have the opportunity to explore new ideas and transform advanced machine learning research into real-world financial solutions, supported by XTX Markets' expansive research cluster, rich datasets, and advanced technological infrastructure.

Emphasizing practical application, XTY Labs’ mission is to swiftly integrate successful models into the market, directly enhancing XTX's trading strategies and operations. This direct pipeline from research to implementation establishes XTY Labs as a premier destination for those seeking to make a significant impact in the financial sector through original machine learning research.

The XTY AI Research Internship

This 12–14-week research-focused internship, with flexible start dates throughout the year, is designed for highly motivated students in the middle years of their advanced degrees who are eager to push the boundaries of high-risk, high-reward AI research and rapidly integrate cutting-edge ideas into our advanced strategies.

Top-performing interns will be actively considered for full-time research roles in either our New York City or London teams.

Why Join?

• Work at the Frontier of Fundamental AI Research: Explore and innovate at the forefront of machine learning, optimization, generative AI, foundation models, distributed training, and other cutting-edge areas, driving direct business impact.
• Fast-Paced Innovation: A unique opportunity to test, iterate, and refine cutting-edge concepts at industry speed, often within weeks or days.
• Mentorship & Collaboration: Each intern is paired with at least one full-time researcher as a mentor and works closely with the research director for guidance and collaboration.
• Exposure to Real-World Quantitative AI: Experience firsthand how advanced AI techniques shape algorithmic trading in one of the world’s most technologically sophisticated firms.

This exclusive opportunity is for students who excel in research-driven environments and are eager to make a meaningful impact in a field still rich with untapped potential in the GenAI era. Our environment fosters innovation with a flat organizational structure, a friendly and collaborative culture, and minimal bureaucracy, allowing you to focus on advancing machine learning in finance.

Interns will work from our New York office at least four days per week.

Responsibilities

• Engage in pioneering research to develop original machine learning algorithms, with autonomy to investigate and apply novel methods.
• Utilize broad knowledge across deep learning, natural language processing, time series analysis, control and optimization, reinforcement learning, and related areas.
• Architect, build, and refine models, agents, and software prototypes focusing on robustness and generality.
• Clearly communicate research progress and findings to ensure efficient internal knowledge transfer, both verbally and in writing.
• Collaborate with XTX Markets’ quantitative research team, contributing to a collective effort of fewer than twenty experienced researchers.

The program offers an unparalleled opportunity to work within a rich computational environment equipped with extensive resources. Interns will immerse themselves in a culture promoting collaboration, innovation, and a flat hierarchy. The program welcomes a wide range of backgrounds and interests, not limited to those already committed to a career in finance.

Essential Attributes

• Pursuing an advanced degree, ideally a Ph.D., in computer science, electrical engineering, mathematics, or a related quantitative field, with at least one year remaining before expected graduation.
• Strong evidence of ability to conduct original research, including a proven publication record in leading machine learning and AI venues (quality over quantity).
• Demonstrated practical experience and deep understanding of modern deep learning architectures, particularly transformers and their variants.
• Solid knowledge of fundamental data science, optimization, and statistics.
• Proficient programming skills (language is flexible; Python is acceptable).
• No prior experience in finance is required.

Desirable Attributes

• Proven expertise in developing and working with foundational models, including large language models and multi-modal frameworks.
• Experience managing and analyzing large, unstructured, and noisy datasets.
• Hands-on knowledge of time series forecasting.

Compensation

The base salary for the AI Research Internship is $35,000 per month. Interns will receive benefits comparable to those of our U.S. permanent employees, as appropriate, and a generous sign-on bonus to assist with accommodation costs.

Interview Format

We maintain a highly selective application process with a small internship cohort. Our interview evaluates candidates on the following topics:

• Research experience
• Modern machine learning techniques, especially deep learning
• Classical machine learning techniques
• General mathematics (linear algebra, analysis, probability, etc.)
• Hands-on programming and data engineering

We seek broad strength across these areas, with candidates excelling in all and exceeding expectations in at least one.

The interview process consists of three stages:

• A discussion with the Research Director focusing on research history, deep learning/machine learning knowledge, alignment with XTY's goals, and innovative thinking.
• A practical take-home exercise involving building and developing an AI model from a provided dataset.
• A one-hour interview with either an XTX Quantitative Researcher or a full-time XTY Researcher.