London – Long Term Internship 2026 – Credit E-Trading

Job Title: Credit E-Trading Intern

BNP Paribas Credit Market Making Algorithmic framework provides liquidity on MTFs and regulated exchanges directly to BNP Paribas Institutional and Hedge-Fund clients. Algo Traders continuously create and optimise strategies, automatons and algorithms to improve liquidity provision across a wide spectrum of underlying assets, asset classes and markets. The Credit E-Trading Intern will work as part of a team of senior traders, responsible for market making and for managing the technical platform that enables them to do so. This role requires a unique blend of trading and technical expertise, including product knowledge, high-performance coding, and an understanding of a complex and evolving technical platform. It offers a fast-track to gaining the level of expertise necessary to generate the next tech evolutions, as well as strategies and algorithm ideas. The intern will focus on different quantitative research subjects of statistical arbitrage, applying various statistical/Machine Learning methods to create insights from data and generate meaningful signals for credit spread movement by analysing datasets from denoising to feature extraction.

The role is to assist the team with day-to-day business activities under supervision.

Key Responsibilities

The Credit E-Trading – Intern:

• Supports Algo Traders in the continuous improvement of BNP Paribas’s Credit Electronic Market-Making infrastructure.
• Supports Algo Trader in the monitoring of activity (positions, flows, instantaneous market risks, infrastructure sanity) for the Algo.
• Operates under the direct guidance of the Senior Algo Traders with responsibility to report and escalate to line management, managing day-to-day with a high level of expertise in the product.

Missions shared with all other Algo Traders:

• With the support of Algo Traders and Strategists, develops and maintains algorithms and models.
• Provides market liquidity through market making and hedges accordingly.
• Monitors market news and events and evaluates risk and opportunities for positions and strategies.
• Ensures proper booking in the system, monitors front-to-back chain, and controls operational risk.

ANALYSIS / RESEARCH / DEVELOPMENT

• Researches new quantitative strategies and back-tests them.
• Brings new strategies to production and improves current strategies.
• Follows the latest quantitative techniques (research papers, corporate intelligence).
• Enhances PnL sources diversification, using all available resources to maximise revenue.

TRADING

• Performs the necessary backups to ensure business continuity.

CONTROL

• Ensures trading is in line with market risks and local limits.
• Proposes enhancements to minimise potential operational risks.
• Ensures trading strategies are fully compliant with BNPP Compliance and Conduct framework.

REPORT/SHARE

• Reports on the research project (timeline, documentation, etc.).
• Produces a trading report of the desk’s market-making activity (risk analysis, exposures, etc.).
• Shares research projects and experiences with other Algo traders.
• Contributes to BNP Paribas Control framework.
• Works as part of a team.

Requirements

• Strong education in Statistics, Mathematics or Computer Science. We are seeking people who understand how machine learning works inside the black box, not just how to use techniques.
• Strong knowledge of Machine Learning techniques (classification, regression, natural language processing via standard statistical models or neural networks).
• Good programming skills, preferably Python.
• Delivery-driven mindset.
• Strong interpersonal skills and a proactive approach to problem solving.
• Ability to work under pressure and multi-task.
• Strong organisational skills.
• Team player.

Conduct

Be a role model, supporting and fostering a culture of good conduct. Demonstrate proactivity, transparency, and accountability for identifying and managing conduct risks. Consider the implications of your actions on colleagues. Embody and practice the Group values (alignment with the Bank’s strategy, commitment, work ethic, integrity and Code of Conduct).

Important Notices

You may apply to four Long Term Internships over the course of a year. These may be across any business area. Successful candidates for this long-term internship will be considered for London only. Please discuss the available start dates with your interviewers. Unsuccessful candidates’ CVs may be shared with other BNP Paribas teams for potentially suitable roles to maximise opportunities for candidates and hiring teams. By submitting your CV for this role you agree to it being shared securely with other BNP Paribas hiring teams for the relevant recruitment round.

Location

London

Duration

6 months

Why Join Us

1. We’re a great place to work

We aim for optimal work/life balance (depending on role, this includes hybrid working, flexible working and agile). We are proud of our award-winning flexible benefits and health & wellbeing strategy, including:

• Generous holiday allowance of at least 26 days (plus bank holidays) with option to buy and sell holidays.
• Valuable financial plans – a 12% non-contributory pension moved to sustainable investments, life assurance, income protection and personal accident insurance.
• Extensive wellbeing and mental health offering – private medical schemes in the UK, dental cover, wellbeing app, CBT support, subsidised gym memberships, bespoke health assessments including genetic testing, Private GP services, Employee Assistance Programme, menopause & fertility support, neurodiversity assessment and support.
• Onsite services and facilities in London – physiotherapy, nutrition, massage therapy, physiology, mental health first aiders, flu vaccinations and a free onsite fitness centre.
• Emergency back-up care for dependants, green car leasing, season ticket loan, and other benefits.

2. Positive impact

As the eurozone’s largest bank, we are committed to a positive impact in the world, including Net Zero by 2050 across financing and investment portfolios and low-carbon energy financing targets by 2030. We also support volunteering, with four volunteering days per year.

3. Development of our people

We provide comprehensive training, talent programmes, mentoring, career days and in-house tools. Nearly half of UK CIB positions were filled internally in 2023. We foster a collaborative and inclusive culture with active Diversity and Inclusion networks and equal opportunity commitments. We offer adjustments for candidates with disabilities or health conditions to ensure fair recruitment.