Quantitative Analyst Intern - Digital Assets Market Making HFT
Keyrock is a crypto market maker providing algorithmic liquidity, OTC trading, derivatives, and asset management services to institutions across centralized and decentralized venues.
Funding history
About Keyrock
Keyrock provides institutional digital asset trading services through proprietary algorithmic technology deployed across centralized and decentralized exchanges. Users can access market making, over-the-counter block trades, options structures for hedging and yield, and managed fund strategies. The firm operates across multiple regulated jurisdictions including Belgium, the UK, Switzerland, France, and the US.
Skills
Candidate Availability
Required and preferred rules are kept separate and reflect the wording in the original posting.
About the Role
You will analyse market and trading data across centralized digital-asset venues to study liquidity, pricing, execution, and risk. You will build latency-aware backtests, Python tools, and data pipelines for research and monitoring. You will evaluate execution quality, cross-venue price discovery, fair value, and liquidity-program economics, support live strategies through PnL and post-trade analysis, and communicate findings, risks, and recommendations clearly.
Requirements
- Pursuing or recently completed a degree in mathematics, computer science, engineering, physics, quantitative finance, or a related field
- Proficiency in Python for data analysis
- Comfort 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 price movements
- Ability to reason about exchange APIs, latency, queue position, partial fills, cancellations, fees, slippage, and adverse selection
- Knowledge of spot and perpetual futures, basis, funding, leverage, liquidation risk, settlement currencies, and residual exposure
- Comfort with probability, statistics, time-series analysis, and noisy results
- Ability to assess latency, fees, market impact, liquidity, and real execution constraints
- Ability to structure ambiguous problems, test assumptions, and communicate findings clearly in English
Responsibilities
- Analyse multi-venue top-of-book and depth data, trades, orders, fills, and cancellations
- Build and validate latency-aware event-driven backtests with execution, queue, fill, fee, and cancellation assumptions
- Measure spread capture, forward markouts, fees, and adverse selection across venues, instruments, and market regimes
- Build reusable Python tools and data pipelines using columnar analysis and SQL for research, performance attribution, and monitoring
- Study cross-venue price discovery, lead-lag relationships, fair-value construction, and spot-perpetual basis
- Support live strategies through PnL, inventory, exposure, and post-trade analysis
- Evaluate liquidity-program economics and translate research into production improvements
- Present findings, assumptions, limitations, risks, and recommended next steps clearly
Benefits
- Accommodation provided for all or part of the internship
Hiring Process
Interview with a Talent Acquisition representative → interview with the Hiring Manager → recruitment challenge