Quantitative Research Intern

Quantitative Research Intern

Our formula for success is to hire exceptional people, encourage their ideas, and reward their results.

As a Quantitative Research Intern, you will solve challenging problems in a trading environment using the latest statistical scientific algorithms, machine learning techniques, and derivatives pricing theory. Teams focus on non-latency sensitive investment opportunities and multi-asset class derivatives strategies across geographies. You will use the team’s custom research infrastructure for simulation, back-testing, and validation of proposed models, collaborating with traders and researchers to gain a deeper understanding of quantitative trading.

How You Will Make an Impact

• Create practical solutions to problems presented in the trading environment on either a systematic equity trading desk or a fixed income options desk.
• Conduct statistical analysis of market data, historical trends, and relationships across multiple asset classes.
• Formulate and apply mathematical modeling, quantitative methods, and machine learning techniques to identify and capture trading opportunities.
• Work closely with traders and researchers to build and refine research infrastructure and tools.

What You Bring to the Team

• Are pursuing a Bachelor’s, Master’s, or PhD in a technical discipline with a focus on Statistics, Optimization, Machine Learning, Artificial Intelligence, Quantitative Finance, or related fields, graduating between December 2027 and August 2028.
• Proficiency in Python programming using the Python machine learning stack (e.g., numpy, pandas, scikit-learn).
• Strong programming skills with experience exploring large datasets.
• Strong analytical and problem-solving skills, including a solid foundation in statistics.
• Working knowledge of probability theory, stochastic calculus, and numerical algorithms such as finite differences and Monte Carlo simulation.
• Some exposure to Natural Language Processing and/or High-Performance Computing is a plus.
• Excellent written and verbal communication skills to report research results and methodologies.
• Added bonus if you have been published in a top tier journal focusing on Natural Language Processing or High-Performance Computing.

What to Expect During the Internship

• Meaningful projects: Each project, advised by a trader, promotes a comprehensive learning experience and provides real-world work experience.
• Community: Throughout the summer, we host educational, social, and team-building activities to explore the city, foster friendships, and build camaraderie.
• Housing: DRW provides fully furnished apartments located close to the office to make your commute as easy as possible.
• Mentorship: You will build a professional relationship with an experienced mentor. Mentors and mentees meet to discuss goals, challenges, professional development, and mentor outings.
• Education: You will complete an options course taught by an experienced trader and participate in a technology immersion course to better understand how technology and trading intersect.

About DRW

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, DRW trades a variety of asset classes including Fixed Income, ETFs, Equities, FX, Commodities, and Energy across all major global markets. DRW has also leveraged its expertise and technology to expand into three non-traditional strategies: real estate, venture capital, and cryptoassets.

DRW operates with respect, curiosity, and open minds. The people who thrive here share a 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.

Compensation

The annual base salary range for this position is $250,000 to $300,000, depending on the candidate’s experience, qualifications, and relevant skill set.