Quantitative Researcher - Delta One

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, we trade a variety of asset classes including Fixed Income, ETFs, Equities, FX, Commodities and Energy across all major global markets. We have also leveraged our expertise and technology to expand into three non-traditional strategies: real estate, venture capital and cryptoassets. We operate with respect, curiosity and open minds. The people who thrive here share our 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. Senior Quantitative Researcher – Delta One 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. Key Responsibilities Research, develop, and validate systematic delta-one futures strategies across global markets, including rates, FX, commodities, and equities. Build and refine quantitative signal generation frameworks to support both standalone futures strategies and options portfolios. Develop and evaluate futures-based hedging methodologies to improve portfolio risk management across the FICC options business. Research directional options overlays grounded in quantitative futures signals, partnering with traders on implementation and evaluation. Model and analyze strategy and portfolio risks, including exposure, volatility, liquidity, and cross-asset correlations. Partner closely with traders, developers, and trading infrastructure teams to productionize research, establish model monitoring, and improve execution. Conduct rigorous research, backtesting, out-of-sample validation, and performance attribution,…