Quantitative Analyst Intern

Your Role

Here’s what you will be doing:

• Analyse multi-venue top-of-book and depth data, trades, orders, fills and cancels to study liquidity, price discovery and execution quality.
• Build and validate latency-aware, event-driven backtests with explicit assumptions around maker/taker execution, queue position, fill probability, fees and cancellations.
• Measure spread capture, forward markouts, fees and adverse selection, and investigate how execution quality changes across venues, instruments and market regimes.
• Build reusable Python tools and data pipelines using modern columnar analysis and SQL for strategy research, performance attribution and monitoring.
• Study cross-venue price discovery, lead–lag relationships, fair-value construction and spot–perpetual basis while accounting for data staleness, instrument design and settlement-currency differences.
• Support live strategies through PnL, inventory and exposure analysis, post-trade review and investigation of unexpected performance.
• Evaluate liquidity-program economics by balancing execution quality, market share, fees and incentives, and work with traders and engineers to translate research into robust production improvements.
• Present findings clearly, including assumptions, limitations, risks and recommended next steps.

About You

The company is looking for candidates with the following skills and qualifications:

• Pursuing or recently completed a degree in mathematics, computer science, engineering, physics, quantitative finance or a related field.
• Proficient in Python for data analysis, ideally including Polars or similar columnar tools, and comfortable with SQL, Git and command-line workflows.
• Understanding of limit order books, order types, maker/taker mechanics, matching and priority rules, spreads, market depth and how trades move prices.
• Ability to reason about the order lifecycle including exchange APIs, latency, queue position, partial fills, cancellations, fees, slippage and adverse selection.
• Knowledge of digital asset markets, including spot and perpetual futures, basis, funding, leverage, liquidation risk, settlement currencies and residual exposure.
• Comfortable with probability, statistics, time-series analysis and evaluating noisy results without overstating significance.
• Hands-on curiosity demonstrated by building or analysing projects such as order-book studies, trading bots, exchange connectors, backtests, execution simulators or market-data pipelines.
• Strong trading judgement questioning whether an apparent edge survives latency, fees, market impact, changing liquidity and real execution constraints.
• Ability to structure ambiguous problems, test assumptions and communicate findings and limitations clearly in English.

Nice to have:

• Experience working with exchange WebSocket/REST APIs and asynchronous market-data pipelines.
• Exposure to Rust or another systems programming language.
• Experience with tick/order-book data, event-driven simulation or execution modelling.
• A technical project demonstrating sustained interest in systematic trading or market microstructure.

Compensation & Benefits

• A 6 month paid internship at a world-renowned digital assets company with accommodation provided for all or part of the internship.
• Opportunity to learn about digital assets and blockchain from a broad ecosystem perspective.
• Work from one of Brussels' newest and most advanced office spaces.
• Global, collaborative and tech-driven environment.
• Flat structure offering autonomy and impact from day one.
• Culture valuing nimbleness, drive for success, owner mentality and collaboration.
• Opportunity to start a career in a reputable company in the digital assets world.
• Internship predominantly based in Brussels; selected candidates may be based in London with 1-2 months onboarding in Brussels.