If you've simply worked selling standard electronic trading such as DMA and algorithmic services, you're unlikely to have the depth of technical knowledge. "This mix can be difficult to find," he adds. "The sell side want people with strong sales experience within electronic trading, who also have the detailed technical knowledge required for HFT, and who have ideally had a trading background which allows them to communicate at a trader level." Marcus Newman, director at specialist electronic trading recruitment firm Riversdale Consulting, says the ideal candidate for one of these sales roles is a rare hybrid. It will help if you are familiar with Unix scripting and C++ features such as the Boost coding library." "If you're working as a developer, you'll need to be a much stronger programmer than anything else," says Brown. They'll need to be familiar with object oriented programming languages (C++ and Java), statistical languages (Maple, MATLAB, R, or S+) and scripting languages (Perl, or Python). Once strategists have built the models, quant developers need to convert them into code which can implement the trading strategies.ĭevelopers need to be expert programmers. Very few people in this area have an MSc." "It helps to have some experience with applied probability, image processing, or speech recognition," says Dominic Connor at P&D Quant recruitment. So is a background involving signal processing or statistical tuning. The ideal candidate combines PhD level statistics with computer science."Ī PhD in physics is also considered desirable for a strategy role. High frequency strategists comb through large historical data sets looking for patterns. "Pure quants tend not to have enough statistics exposure. "Strategists spent a lot of time data mining," says James Brown at recruitment firm Selby Jennings. They need to be good at maths, but they don't need to be quants. Strategists build the mathematical models underpinning high frequency trading operations. They also say that high frequency trading is one of the most lucrative careers to go into: some banks will (allegedly) offer traders 50% of their profits 180k for a new PhD is not unheard of. Recruiters say this is a slight exaggeration and that there isn't loads of recruitment, but that there is some. The WSJ claims that Nomura, JPMorgan, Citigroup, BarCap and Deutsche are all hiring. And last month, DE Shaw, a quant-driven hedge fund active in the high frequency space, made 10% of its staff redundant.ĭespite this, the Wall Street Journal insists that there's still lots of hiring, mostly driven by banks which are trying to increase their presence in the space. As Financial News points out this week, net profits at Optiver, Getco and Citadel are down - a lot. Please refer to the delivery information in our FAQs.High frequency trading isn't as alluring as it used to be. This means we will refund the return postage (restrictions apply). We offer free returns to UK customers, if the return is made within seven days of receipt. If you are not 100% happy with your online purchase, you can return it us within 30 days of receipt. To find out what services are available to your destination, along with estimated delivery times, please see the delivery estimate section above We utilise a variety of couriers for our international deliveries and, where possible, opt for final mile carriers with the highest service level in each country. We ship to the majority of countries around the world, but the delivery service and time frames differ per destination. Some areas of the UK are not applicable for next day delivery Standard Delivery & Free UK Delivery (3-5 Working Days) Orders are shipped within 1-3 working days.
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