Trading · Credit

You decide which bonds and loans to buy and sell, and how much, using your own judgement backed by the firm's research and data. This is a senior seat in the discretionary trading team at Squarepoint Capital, trading credit, which is the market in bonds and loans. Discretionary means a person makes each trading decision, not a computer program.

That makes the seat unusual. Most of Squarepoint is automated, with strategies researched by quantitative researchers and then run by computers while people only monitor them. Here traders run discretionary strategies, which are pure judgement, and semi systematic ones, where models help find and size a trade but the trader can override them. The firm runs such strategies in credit, shares, commodities, interest rates and currencies, and trades volatility, a bet on how much prices move rather than which way.