Quant Researcher - Compute Markets

As a Quantitative Researcher in Compute Markets at DRW, you will build the pricing infrastructure for an emerging asset class. Compute capacity is becoming tradeable: spot indices exist, listed futures are in development, and bilateral forward and structured transactions are already being negotiated. You will own the pricing models that allow the firm to transact with confidence in a market where almost nobody else can price the underlying risk.

What you'll do

• Build and own the pricing framework for forward, structured and credit-linked transactions on compute capacity, including forward curve construction on an asset with no observable forward market
• Produce reservation bids and offers on bilateral requests, and defend them internally
• Own the valuation model for the book to a standard that survives institutional operational due diligence
• Work directly with trading, risk and the firm's leadership on transaction structure, not only on the numbers

What you bring

• A PhD or MSc in a quantitative discipline: financial mathematics, operations research, statistics, physics, or economics
• Demonstrated ability to build a price from structural first principles where market data is sparse or absent, with prior work on commodities, energy, freight, weather, insurance-linked or other physically-grounded markets being directly relevant
• Fluency in Python and comfort with Monte Carlo methods and uncertainty quantification
• The temperament to state an assumption, own it, and change it when the evidence moves

About DRW

DRW is a diversified trading firm with over three decades of experience, headquartered in Chicago with offices throughout the U.S., Canada, Europe and Asia. You will trade a variety of asset classes including Fixed Income, ETFs, Equities, FX, Commodities and Energy across all major global markets, and leverage the firm's expertise and technology in real estate, venture capital and cryptoassets.