Convertible Bond Trader

New York, New York, United States

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Two Sigma is a financial sciences company, combining data analysis, invention, and rigorous inquiry to help solve the toughest challenges in investment management, insurance technology, securities, private equity, and venture capital. Our team of scientists, technologists, and academics looks beyond the traditional to develop creative solutions to some of the world’s most complex economic problems. 
 
We are looking for a trader to join the Convertible Arbitrage team within Derivatives and Relative Value (DRV), a modeling team which aims to expand the spectrum of asset classes and types of strategies used for systematic investment management at Two Sigma. Our convertible arbitrage strategy’s objective is to identify mispriced convertible securities and capture the difference between the convertible’s market price and fair value by trading the convertible and hedging its various exposures with a number of other instruments: equities, equity options, Treasury futures, corporate bonds, and credit default swaps. Our goal is to apply Two Sigma’s data science and systematic trading expertises to convertible arbitrage.
 
You will take on the following responsibilities:
  • Help us manage the convertible arbitrage portfolio. This entails identifying new trade ideas, manually executing trades, monitoring portfolio exposures, rebalancing hedges, and maintaining business relationships with counterparties.
  • Help us obtain and analyze convertible, volatility, and credit data to improve our convertible trading strategy and work towards systematizing it.
You should possess the following qualifications:
  • 2-6 years of experience
  • Experience trading or valuing equity volatility or single-name credit products. Convertible-specific experience is a bonus but not required.
  • Comfort working with and analyzing data programmatically.
  • Strong analytical and communication skills
 
You will enjoy the following benefits:
  • Core Benefits: Fully paid medical and dental insurance premiums for employees and dependents, competitive 401k match, employer-paid life & disability insurance
  • Perks: Onsite gyms with laundry service, wellness activities, casual dress, snacks, game rooms
  • Learning: Tuition reimbursement, conference and training sponsorship
  • Time Off: Generous vacation and unlimited sick days, competitive paid caregiver leaves
  • Hybrid Work Policy: Flexible in-office days with budget for home office setup
 
We are proud to be an equal opportunity workplace. We do not discriminate based upon race, religion, color, national origin, sex, sexual orientation, gender identity/expression, age, status as a protected veteran, status as an individual with a disability, or any other applicable legally protected characteristics.