Quant Researcher - Compute Markets

We are building the pricing infrastructure for a market that does not yet have any. Compute capacity is becoming a tradeable asset: spot indices exist, listed futures are in development, and bilateral forward and structured transactions are already being negotiated. Almost nobody transacting in this market can price the underlying risk. We intend to.

• →Build and own the pricing framework for forward, structured and credit-linked transactions on compute capacity, including forward curve construction on an asset with no observable forward market.
• →Produce reservation bids and offers on bilateral requests, and defend them internally.
• →Own the valuation model for the book, to a standard that survives institutional operational due diligence.
• →Work directly with trading, risk and the firm's leadership on transaction structure, not only on the numbers.

• PhD or MSc in a quantitative discipline: financial mathematics, operations research, statistics, physics, economics.
• Demonstrated ability to build a price from structural first principles where market data is sparse or absent. Prior work on commodities, energy, freight, weather, insurance-linked or other physically-grounded markets is directly relevant, though not required.
• Fluency in Python, and comfort with Monte Carlo methods and uncertainty quantification.
• The temperament to state an assumption, own it, and change it when the evidence moves.
• Prior exposure to compute or semiconductor markets is not expected and will not be weighted.