Quantitative Researcher – Market Impact Modeling

We are seeking a Quantitative Researcher to join our Central Liquidity Strategies (CLS) team within Execution Services. You will be responsible for researching, improving, and implementing market-impact models across equities and other asset classes.

Responsibilities:

• Research, improve, and implement market-impact models across equities and other asset classes, drawing on current academic research and practical market experience
• Estimate market impact using real-world data, addressing data biases, endogeneity, causal inference, and model robustness
• Develop and enhance research, model-fitting, and analytics frameworks to support experimentation and model calibration
• Partner with trading and engineering stakeholders to integrate models into the portfolio construction process
• Communicate research findings, assumptions, and limitations clearly, translating business goals into quantitative research deliverables

Requirements:

• A master’s or PhD in Physics, Mathematics, Operations Research, Statistics, Finance, Economics, Econometrics, Financial Engineering, Econophysics, or a related discipline
• Experience in quantitative research or quantitative trading, with a significant focus on market-impact research or market microstructure
• Significant experience analyzing real-world datasets and estimating market impact in practical settings
• Strong knowledge of relevant academic research and the challenges of data bias, endogeneity, causal inference, and robustness
• Excellent analytical and quantitative skills
• Proficiency in Python and kdb+/q
• Strong communication and collaboration skills, with the ability to explain research outputs and limitations and align research with business objectives

Benefits:

• The estimated base salary range for this position is $160,000 to $250,000
• Comprehensive benefits package