The Firm

XTX Markets is a leading algorithmic trading firm which uses state-of-the-art machine learning technology to produce price forecasts for over 50,000 financial instruments across equities, fixed income, currencies, commodities and crypto. It uses those forecasts to trade on exchanges and alternative trading venues, and to offer differentiated liquidity directly to clients worldwide. The firm trades over $250bn a day across 35 countries and has over 250 employees based in London, New York, Singapore, Paris, Bristol, Mumbai, Yerevan and Kajaani.

We leverage the talent of the people who work here, modern computational techniques and state-of-the-art research infrastructure to analyse large data sets across markets quickly and efficiently, to maximize the effectiveness of our proprietary trading algorithms. We are actively seeking new methods and ideas. The models that drive our trading strategies have evolved considerably over the last 10 years, from econometric methods that gave our company its name, to trees, to neural networks, to modern deep learning architectures.

XTX Markets has an unrivalled level of computational resources in the trading industry, with a growing research cluster currently containing over 25,000 GPUs with 650 petabytes of usable storage. Teams across the firm include world-class researchers, developers and technologists with backgrounds in pure math, programming, physics, computer science and machine learning. The firm is also constructing a large-scale data centre in Finland to future-proof its significant computational capabilities.

At XTX Markets technology is our business and we are a diverse organization which attracts outstanding talent from across all industry backgrounds. We are focused on teamwork, and our people collaborate on all aspects of the business, working openly and with respect for each other, our clients and the market. Our culture is non-hierarchical and one where everyone is valued. We strive for excellence in everything we do.

The Role

Distribution and Liquidity Management.

You will be working in a small, collaborative and highly technical team to help build and further improve our rapidly growing client business across equities, FX, precious metals, ETFs and other products.

Your initial focus will be to manage a portfolio of existing equities and FX clients, but the remit is wide, and you should expect to be challenged and grow into a cross-asset role where responsibilities are fluid and will expand alongside our US business, which is growing rapidly. 

You will have full exposure to the workings of our business and be expected to contribute across what are typically three distinct roles at competitors: e-trading, e-sales, and product.

We play an active role in shaping market structure rather than just passively accepting the status quo: market participants will tell you things are impossible or just plain absurd, and you will achieve them anyway.

Responsibilities

The sort of things you’ll be doing day-to-day include:

• Analysing flow and optimising pricing across a portfolio of venues and clients – both institutional and retail/wealth firms.
• Maximising the value of existing client relationships. Where necessary you will use data, alongside your deep technical understanding of e-trading, to help convince clients of the benefits of evolving the way in which they trade with liquidity providers.
• Understanding and communicating XTX’s value proposition. To start with there will be a core focus on equities but we’ll provide training and, when you’re ready, the role will expand to become cross asset with a particular focus on equities and FX.
• Deepening relationships with existing clients by visiting them and understanding their business holistically.
• Becoming an expert in market structure and microstructure and debating these topics with clients, vendors, tech providers and regulators.
• Driving forward one-off projects. Typical examples include: writing market structure notes and working with the media; working with ECNs, TCA providers, aggregation vendors to improve their products; working with developers to improve internal tools and/or automate liquidity management processes.
• Occasional travel to customers and conferences, largely within North America – estimated 3-4 weeks per year.

Attributes

• A fundamental understanding of Electronic Trading, which will likely have been gained over 2-5 years in a relevant role. You will also be eager to learn or grow your knowledge of other asset classes. While this role primarily focuses on equities and FX, your experience may be rooted in a different asset class.
• Strong technical reasoning skills and an ability to reason from first principles in real-time.
• Track record of (and genuine interest in) client interaction – you do not have necessarily had to work in a Distribution role before.
• You actively seek to continuously improve and respond well to constructive feedback.
• You adhere to principles that objectively would be considered as moral and of high integrity.
• Current and former colleagues consider you hard agency, high energy, detail-oriented, pragmatic, proactive. You get things done.
• Excellent written, verbal, and presentational communication skills.

Benefits

• Extensive medical and wellness benefits including gym membership.
• Breakfast and lunch provided daily.
• Beautiful Hudson Yards office.
• 25 days paid holiday per year + statutory holiday and paid sick days.
• Generous 401k contributions.
• We work 4 days per week in the office, 1 from home unless stated otherwise.

Compensation

The base salary range for this role is between $150,000 to $225,000 depending on relevant job-related skills and experience. You will be eligible for participation in a discretionary annual performance bonus scheme and will enjoy a comprehensive package of benefits. All bonuses, benefits, and any sign-on payments are in addition to the base salary range stated.

Interview format

Our interview process is highly selective.

The first stage is an introductory meeting with the hiring manager, which will include technical questions and a general discussion.

In the next stage you will meet additional members of the team and complete a quant interview with another set of technical questions.

Technical questions will focus on trading intuition and seek to gain an understanding of whether you can reason from first principles about market microstructure and liquidity management topics. No preparation is necessary and we’re looking for signs of potential rather than the finished product.

The final interview will be with a member of the XTX executive committee.

The Firm 

XTX Markets is a leading algorithmic trading firm which uses state-of-the-art machine learning technology to produce price forecasts for over 50,000 financial instruments across equities, fixed income, currencies, commodities and crypto. It uses those forecasts to trade on exchanges and alternative trading venues, and to offer differentiated liquidity directly to clients worldwide. The firm trades over $250bn a day across 35 countries and has over 250 employees based in London, New York, Singapore, Paris, Bristol, Mumbai, Yerevan and Kajaani.

We leverage the talent of the people who work here, modern computational techniques and state-of-the-art research infrastructure to analyse large data sets across markets quickly and efficiently, to maximize the effectiveness of our proprietary trading algorithms. We are actively seeking new methods and ideas. The models that drive our trading strategies have evolved considerably over the last 10 years, from econometric methods that gave our company its name, to trees, to neural networks, to modern deep learning architectures.

XTX Markets has an unrivalled level of computational resources in the trading industry, with a growing research cluster currently containing over 25,000 GPUs with 650 petabytes of usable storage. Teams across the firm include world-class researchers, developers and technologists with backgrounds in pure math, programming, physics, computer science and machine learning. The firm is also constructing a large-scale data centre in Finland to future-proof its significant computational capabilities.

At XTX Markets technology is our business and we are a diverse organization which attracts outstanding talent from across all industry backgrounds. We are focused on teamwork and our people collaborate on all aspects of the business, working openly and with respect for each other, our clients and the market. Our culture is non-hierarchical and one where everyone is valued. We strive for excellence in everything we do.

XTY Labs

XTY Labs, a division of XTX Markets established in 2024, stands at the intersection of finance and cutting-edge machine learning research. The lab is designed to be a home for those eager to pioneer the future of algorithmic trading, with a strategic focus on developing and applying novel machine learning techniques to financial data.

Situated in Hudson Yards, New York City, XTY Labs offers a state-of-the-art, “academia-like” workspace designed to inspire creativity and innovation. Led by Research Director Dr. Atlas Wang [Link], researchers will have the opportunity to explore new ideas and transform their advanced machine learning research into real-world financial solutions, backed by XTX Markets' expansive research cluster, rich datasets, and advanced technological infrastructure.

Emphasizing practical application, XTY Labs’ mission is to swiftly integrate successful models into the market, directly enhancing XTX's trading strategies and operations. This direct pipeline from research to implementation establishes XTY Labs as a premier destination for those looking to make a significant impact in the financial sector through original machine learning research.

The XTY AI Research Internship

**Please note that we are now only accepting applications from candidates who are available starting from fall/autumn 2026 or later.**

This 12–14-week research-focused internship, is designed for highly motivated students in the middle years of their advanced degrees, who are eager to push the boundaries of high-risk, high-reward AI research and rapidly integrate cutting-edge ideas into our advanced strategies.

Top performing interns will be actively considered for full-time research roles in either our NYC or London teams.

Why Join?

• Work at the Frontier of Fundamental AI Research: Explore and innovate at the forefront of machine learning, optimization, generative AI, foundation models, distributed training, and other cutting-edge areas, driving direct business impact.
• Fast-Paced Innovation: A unique opportunity to test, iterate, and refine cutting-edge concepts at industry speed, all taking place in weeks if not days.
• Mentorship & Collaboration: Each intern will be paired with at least one full-time researcher as a mentor and will also work closely with the research director for guidance and collaboration.
• Exposure to Real-World Quantitative AI: Experience firsthand how advanced AI techniques shape algorithmic trading in one of the world’s most technologically sophisticated firms.

This is an exclusive opportunity for students who excel in research-driven environments and are eager to make a meaningful impact in a field still rich with untapped potential in the GenAI era. Our environment is designed for innovation with a flat organizational structure, a friendly and collaborative culture, and an absence of red tape, allowing you to focus on advancing the field of machine learning in finance.

You will work from our NY office at least 4 days per week.

Responsibilities 

• Engage in pioneering research to devise original machine learning algorithms, with the autonomy to investigate and apply novel methods.
• Utilize a broad knowledge base across deep learning, natural language processing, time series analysis, control and optimization, reinforcement learning, among others.
• Architect, build, and refine models, agents, and software prototypes with a focus on robustness and generality.
• Clearly communicate research progress and findings, ensuring efficient internal knowledge transfer both verbally and in writing.
• Foster teamwork and collaborate with XTX Markets’ quantitative research team, contributing to a collective effort of fewer than twenty experienced researchers.

The program offers an unparalleled opportunity to work within a rich computational environment, equipped with an impressive array of resources. Interns will immerse themselves in a culture that promotes collaboration, innovation, and a flat hierarchy. The program is designed to bring together a wide range of backgrounds and interests, not only those who are already set on a career in finance.

Essential Attributes

• Pursuing an advanced degree. ideally Ph.D., in computer science, electrical engineering, mathematics, or a related quantitative field, with at least one year remaining before your expected graduation date.
• Strong evidence of ability to conduct original research. That shall include a proven publication record in leading machine learning and AI venues (we do not count publication numbers)
• Demonstrated practical experience and deep understanding of modern deep learning architectures, in particular transformers and its variants.
• Solid knowledge in fundamental data science, optimization, and statistics
• Solid programming skills (language does not matter; Python is fine)
• No prior experience in finance is needed.

Desirable Attributes

• Proven expertise in developing and working with foundational models, including but not limited to large language models and multi-modal frameworks.
• A background in managing and analyzing large, unstructured, and noisy datasets.
• Hands-on knowledge of time series forecasting.

Compensation 

The base salary for the AI Research Internship role will be $35,000 per month. You will enjoy similar benefits to those of our US permanent employees as appropriate and receive a generous sign-on bonus to be used for covering accommodation costs.

Interview Format  

We plan to keep our internship cohort small, with a highly selective application process. Our interview process seeks to gain signal in the following topics:

• Your Research Experience
• Modern machine learning techniques, especially deep learning
• Classical machine learning techniques
• General mathematics (linear algebra, analysis, probability etc.)
• Hands-on programming and data engineering

We seek to get a broad signal in our process. Successful candidates are those who are strong in all areas and exceed expectations in at least one.

Your interview process will follow a four-stage format:

• An introductory conversation with the recruitment team. 
• A practical take-home exercise, where you are provided with a dataset to construct and develop an AI model comprehensively from start to finish.
• A discussion with the Research Director to delve into your research history, knowledge in deep learning/machine learning, compatibility with XTY's goals, and to gauge your innovative thought processes.
• A final 1-hour interview with either an XTX Quantitative Researcher or XTY full-time Researcher. 

The Firm

XTX Markets is a leading algorithmic trading firm which uses state-of-the-art machine learning technology to produce price forecasts for over 50,000 financial instruments across equities, fixed income, currencies, commodities, and crypto. It uses those forecasts to trade on exchanges and alternative trading venues, and to offer differentiated liquidity directly to clients worldwide. The firm trades over $250bn a day across 35 countries and has over 250 employees based in London, Singapore, New York, Paris, Bristol, Mumbai, Yerevan and Kajaani.

We leverage the talent of our team, modern computational techniques, and state-of-the-art research infrastructure to analyse large data sets across markets quickly and efficiently, maximizing the effectiveness of our proprietary trading algorithms. We are actively seeking new methods and ideas. The models that drive our trading strategies have evolved considerably over the last 10 years, from econometric methods that gave our company its name, to trees, to neural networks, to modern deep learning architectures.

XTX Markets has an unrivalled level of computational resources in the trading industry, with a growing research cluster currently containing over 25,000 GPUs with 650 petabytes of usable storage. Teams across the firm include world-class researchers, developers and technologists with backgrounds in pure math, programming, physics, computer science and machine learning. The firm is also constructing a large-scale data centre in Finland to future-proof its significant computational capabilities.

At XTX Markets, technology is our business, and we are a diverse organization which attracts outstanding talent from across all industry backgrounds. We are focused on teamwork and our people collaborate on all aspects of the business, working openly and with respect for each other, our clients and the market. Our culture is non-hierarchical and one where everyone is valued. We strive for excellence in everything we do.

The Role 

An operations role at XTX will provide exposure across all areas of the business. You will be given the opportunity to take ownership of processes early on. With the guidance of the team, candidates will improve and develop new processes using a range of technical skills such as Go and SQL. Resolving a broad set of daily issues will mean regularly interacting with other teams and external counterparties.

Our ethos is to develop robust, scalable solutions that improve the efficiency of the team and accuracy of our data. This is an opportunity to take part in the growth of a company where decisions make a difference. The impact of operations is far beyond what you usually see within large institutions.

XTX is looking for technically minded candidates with enthusiasm and initiative. The role is an opportunity to contribute to a small team with new ideas and make a real and positive impact on the team itself, as well as the firm.

The team has a presence in London, Singapore, New York, and Paris. This role is based in New York. We work in the office at least 4 days a week.

Responsibilities

• Trade support, including daily reconciliations of cash, positions, and trading activity.
• Liaise with counterparties and exchanges on daily issues.
• Build and maintain automated processes in Go.
• Work with the technology team to develop new tools and applications.
• Manage cash and collateral across multiple brokers and clearing houses.
• Produce various reports (including P&L, risk, and treasury).
• Monitor risks and escalate issues as necessary.
• Monitor regulatory reporting.
• Participate in the on-call rota of the Operations team.
• Onboard new exchanges, counterparties, brokers, and products worldwide as the business expands.
• Gain exposure to various asset classes across the entire trade life cycle.
• Execute ad-hoc trades.
• Perform ad-hoc data analysis and generate reports.

Essential Attributes

• Bachelor’s or Master’s degree with a minimum GPA of 3.5 in Mathematics, Engineering or Computer Science.
• Between 1 and 5 years of relevant industry experience.
• Programming experience (Python, Go) related to automation and data manipulation (SQL) is required.
• Demonstrable knowledge of at least one relevant asset class from a trading operations perspective is preferred.
• Strong analytical and problem-solving skills.
• Ability to analyse and debug problems in a fast-paced environment.
• Excellent communication and cross-team collaboration skills.
• Disciplined self-starter with a high degree of motivation and rigour.
• You enjoy challenging others and being challenged in return, to achieve the best solutions for any problem or process.

Interview Process

• 20-minute Teams Interview: speak with a Hiring Manager or a senior team member to discuss your experience and learn about the role.
• Home Assignment: complete a test simulating a task you might perform in the role. This will assess your ability to develop an automated solution to a business problem.
• Team Interviews: participate in four one-hour interviews with members of the Operations team, focusing on core skills such as maths/statistics, problem solving, coding, and a few brainteasers. One of these interviews to be conducted remotely with Singapore team.
• Final Interview: with our COO and CEO Americas to discuss your motivations, assess your suitability for the role and the firm, and answer broader behavioural questions.

Benefits

• Complimentary Equinox membership.
• Extensive medical benefits including free medical insurance.
• Breakfast and lunch provided during weekdays.
• Support for caregivers, access to emergency dependent care and childcare services.
• Beautiful Hudson Yards office.
• 25 days paid time off per year + statutory holiday and paid sick days.
• Generous compensation and 401(k) contributions.

The base salary range for this role is between $125,000 to $155,000 depending on relevant job-related skills and experience. You will be eligible for participation in a discretionary annual performance bonus scheme and will enjoy a comprehensive package of benefits. All bonuses, benefits, and any sign-on payments are in addition to the base salary range stated.