Quantitative Researcher - Delta One

DRW , Chicago

The role

DRW is seeking a Senior Quantitative Researcher (Delta One) to join the FICC options trading business. This individual will serve as an embedded quantitative research lead within an established discretionary and systematic options platform, with a mandate to research, develop, and validate futures-driven systematic strategies that complement and enhance the broader FICC options franchise.

This role focuses on delta-one strategy research, quantitative signal generation, systematic futures execution research, and portfolio hedging across global futures markets. The individual will partner closely with options traders and developers to translate research into production strategies and integrate futures-based signals, directional overlays, and risk-efficient hedging frameworks into the broader derivatives platform.

This position is suited for someone with deep quantitative expertise, a demonstrated record of research contributing to trading performance, and experience developing scalable systematic models within derivatives markets.

What you will do

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Quantitative Researcher - Delta One

DRW , Chicago

The role

What you will do

What you need

2+ years of experience in quantitative research supporting systematic trading, preferably in futures and listed derivatives.
Proven track record of developing quantitative signals or models that have been deployed in production and contributed to trading performance.
Strong understanding of derivatives pricing, volatility dynamics, and risk modeling.
Deep experience in signal research, statistical modeling, and alpha generation.
Expertise in research design, backtesting, and model validation, including addressing overfitting, data leakage, and implementation costs.
Fluency in Python and experience working with large-scale financial datasets.
Strong knowledge of market microstructure and execution modeling.
Ability to independently lead research projects while collaborating effectively with traders and developers.

Preferred Background

Experience researching strategies across global futures markets, including equities, rates, commodities, and FX.
Experience integrating options strategies within systematic futures frameworks.
Familiarity with portfolio construction, capital allocation, and risk budgeting models.
Experience working within or alongside an options trading desk.
Experience supporting the full research lifecycle, from hypothesis development and empirical testing through production implementation and ongoing evaluation.
Advanced degree in Mathematics, Statistics, Physics, Engineering, Computer Science, or a related field

The annual base salary range for this position is $150,000 to $250,000 depending on the candidate’s experience, qualifications, and relevant skill set. The position is also eligible for an annual discretionary bonus. In addition, DRW offers a comprehensive suite of employee benefits including group medical, pharmacy, dental and vision insurance, 401k (with discretionary employer match), short and long-term disability, life and AD&D insurance, health savings accounts, and flexible spending accounts.

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Quantitative Researcher - Delta One

The role

What you will do

Quantitative Researcher - Delta One

The role

What you will do

What you need

About DRW

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