OPEN FUTURES GROUP

Campus Recruitments
@
IIT DELHI
2016 17

Open Futures: An Introduction

We are

a diversified financial institution specialising in proprietary trading

amongst the top 5 High Frequency Trading (HFT) firms in India

among the first to avail NSEs co-location services

We use diverse set of algorithms to trade securities in all asset

classes, i.e. Futures, Options, Commodities, Equity, FX etc

Our competitive advantage is based on a combination of state-ofart low latency infrastructure, advanced mathematical and
machine learning models and trading acumen

An Insight Into Trading

Employ various strategies such as index arbitrage, volatility

dispersion trading, basket trading, sector trading, statistical
arbitrage, and other quantitative strategies

The strategies are dynamic and process large amounts of realtime market information

Positions can be held from minutes to a fraction of second

Returns are exponentially higher than traditional buy-and-hold

strategies

High Frequency Trading

Using advanced mathematical models to identify the micro

patterns in the market

Predicting very short term movements (seconds or less) of the

tradeable assets

Analysing data from global markets to take trading decisions

Designing low latency trading platforms for efficient executions

Examples: Statistical Arbitrage

Relative

temporary mispricing of otherwise correlated

securities
Consider

two securities, A and B, that are related to each

other and trade within a range of each other:

B ~ (A+90, A+100)

Opportunity: B = A + 105

Strategy: Sell B and buy A to get (A + 105 - A) = 105

Reversal: B = A + 95 (back in range)

Strategy: Buy B and sell A to get (-A -95 + A)= -95

Profit: 105 95 = 10

Examples: Predictive Modelling

Predicting

price movements of securities in advance

based on some very short-term indicators.
Predict

movements in oil prices in India based on

movements in oil prices in US and movements in US
Dollars
oilIndia

= oilUS * USD

Examples: Market Making

Sit on both sides of the book and have bid and offer quotes
in the market
Keep getting hit on both sides and gain bid-offer spread
Looks like easy money? What is the challenge here?

Examples: Market Making

Sit on both sides of the book and have bid and offer quotes
in the market
Keep getting hit on both sides and gain bid-offer spread
Looks like easy money? What is the challenge here?

Challenges:
Losses in big moves
Covering commission
Position Queue Management

Why HFT

See your impact immediately

Compete with worlds best

Learn and work on cutting-edge technology

Unending scope of innovation

Work in a fast-paced environment

Why Open Futures

Exposure to global markets

Opportunity to develop and learn different strategies

Freedom to try new things

Competitive Salary

Profiles: Algorithmic Trader

Using Machine Learning Algorithms to identify market patterns

Understanding Order Book Dynamics

Conducting research on historical market data

Implementing trading strategies

Improving/adapting existing strategies to ever-changing market

dynamics

Profiles: Software Engineer

Developing ultra-low-latency trading platforms

Working with state-of-art infrastructure

Design and development of high performance exchange

gateways

Programming on Linux kernel, device drivers

Skill Set:

Strong mathematical and statistical aptitude

Strong algorithmic skills

Highly efficient programming(C++, R, Python)

Good problem solving, critical thinking, and analytic abilities

Good knowledge of Data Structures, Algorithms, Predictive

Modeling, Regression, Time Series and Probability and Statistics

Hard working, self-motivated and a willingness to see a task

through to the end

Knowledge of network, parallel/distributed, multithreaded

programming is a plus, as is knowledge of Linux kernel
programming and/or device driver development

Algorithmic Trader

Offer:

Base Salary: Rs. 24 lakhs

Signing Bonus: Rs. 2 lakhs

Bonus: Rs. 2, 3 or 5 lakhs

Perks:

Work-life balance is an important part of our philosophy. To this end,

the extended family of Open Futures, i.e. the family members of the
employees participate in various activities planned through the year.
Some such events are the Annual Sports Day, parties through the
year, trips over long weekends, etc. Performance based awards such
as international trips (all expenses paid) are amongst the popular
individual incentives given out to high achievers

Software Engineer

Offer:

Base Salary: Rs. 15 lakhs

Signing Bonus: Rs. 1 lakhs

Bonus: Rs. 1, 2 or 3 lakhs

Perks:

Work-life balance is an important part of our philosophy. To this end,

the extended family of Open Futures, i.e. the family members of the
employees participate in various activities planned through the year.
Some such events are the Annual Sports Day, parties through the
year, trips over long weekends, etc. Performance based awards such
as international trips (all expenses paid) are amongst the popular
individual incentives given out to high achievers

Criteria for Applying

B.Tech/Dual Degree in Computer Science & Engineering

B.Tech/Dual Degree in Electrical Engineering

Integrated M.Tech in Mathematics and Computing

M.Tech in Communications Engineering

M.Tech in Computer Technology

Ph.D. in High Speed Network Design or Discrete Mathematics

CGPA: 7.5

Written Test October 14th, 2016 @ 7.00 p.m.