{"id":3413604,"url":"https://alion.io/job/keyrock-quantitative-analyst-intern-digital-assets-market-making-hft","title":"Quantitative Analyst Intern - Digital Assets Market Making (HFT)","company":{"id":175695,"name":"Keyrock","domain":"keyrock.com","url":"https://alion.io/company/keyrock","size_band":"201-500","is_staffing_agency":false,"employer_type":"direct","is_intermediary":false,"listed_via":null,"ats_vendor":"Ashby","truth_index":null},"role":"Analytics","role_family":"Analytics","seniority":"intern","employment_type":"internship","work_mode":"on_site","remote_scope":null,"remote_scope_basis":null,"remote_working_hours":null,"hiring_geo_confidence":"explicit","locations":["Brussels, Belgium","London, United Kingdom"],"countries":["BE","GB"],"hiring_countries":[],"hiring_countries_total":0,"salary":null,"salary_estimate":{"min_usd":25000,"max_usd":51000,"period":"year","method":"global_role_cell_scaled_by_country","sample_n":8},"experience_years_min":null,"visa_sponsorship":false,"relocation_package":false,"has_equity":false,"technologies":[{"name":"ClickHouse","optional":false},{"name":"DeFi","optional":false},{"name":"Git","optional":false},{"name":"Polars","optional":false},{"name":"Python","optional":false},{"name":"SQL","optional":false},{"name":"Time Series","optional":false},{"name":"Rest API","optional":true},{"name":"Rust","optional":true},{"name":"WebSockets","optional":true}],"status":"live","first_seen_at":"2026-10-28T15:05:14Z","employer_posted_date":"2026-10-28","last_verified_at":"2026-11-02T16:34:21Z","board_verified":true,"closed_at":null,"days_open":5,"trust":{"level":"ok","repost_count":null,"flags":[],"days_open":5},"description":"Quantitative Analyst Intern - Digital Assets Market Making (HFT) - Brussels\nSince 2017, Keyrock has been a change-maker in digital assets. We're a global, remote-first team of 200+ people across 40+ nationalities, with hubs in Brussels, London, Paris and New York.\nWe provide liquidity across 80+ centralized and decentralized exchanges - a position cemented by our Series C, led by SC Ventures. Today we run a full spectrum of capital markets businesses across centralized and on-chain venues: market making, high-frequency trading, options, OTC, DeFi trading desks, advisory, and asset management.\nWe're building toward the agentic investment banking capabilities for the era of digital finance. A proprietary agentic layer runs the mechanics of the market, so our people can focus on the work code cannot do: the deal, the relationship, and the judgement.\nWe're not just envisioning the future of finance - we're building it.\nAbout the Internship Program\nOur internship programme gives early-career talent the opportunity to build practical skills, contribute to meaningful projects and learn alongside experienced colleagues in digital finance.\nTypically lasting six months and based in our Brussels office (London possible), each internship includes hands-on experience, clear learning goals and dedicated guidance and regular feedback. We look for curiosity, relevant foundational skills, deep, active interest and passion for digital assets and the potential to grow exponentially with us - you don’t need to arrive with all the answers. Where performance, business needs and available opportunities align, an internship may lead to a permanent role, though this is not guaranteed.\nWe are looking for 3-4 high-caliber Quantitative Analyst Interns to sit within our Strategic Market Making (CeFi and DeFi), Credit and Corporate Development desks/teams (see other openings on our career page for details).\nApplication deadline: 30 November 2026\nStart date: 1 March 2027\nSelection process:\nInterview with Talent Acquisition representative\n\nInterview with Hiring Manager\n\nRecruitment Challenge\n\nThe role \nAbout Strategic Market Making Desk\nOur Strategic Proprietary Market Making team researches and deploys systematic trading strategies across centralized digital asset venues. We study how order-book dynamics, fragmented liquidity, exchange design and participant behaviour shape pricing, execution and risk.\nAs a Quantitative Analyst Intern within the HFT track, you will work alongside quantitative researchers, traders and engineers to analyse market and trading data, test hypotheses through backtesting and simulation, and build tools that improve strategy performance and risk visibility. You will investigate how fair value, liquidity, latency, queue position, fees and adverse selection affect real-world execution across venues.\nThis is a technical and applied internship. We are looking for someone who combines strong quantitative reasoning and coding skills with a detailed understanding of electronic markets. You should be curious about how exchanges work beneath the interface and able to connect market microstructure to trading outcomes.\nKey Responsibilities - Quantitative Analyst (HFT)\nAnalyse multi-venue top-of-book and depth data, trades, orders, fills and cancels to study liquidity, price discovery and execution quality.\n\nBuild and validate latency-aware, event-driven backtests with explicit assumptions around maker/taker execution, queue position, fill probability, fees and cancellations.\n\nMeasure spread capture, forward markouts, fees and adverse selection, and investigate how execution quality changes across venues, instruments and market regimes.\n\nBuild reusable Python tools and data pipelines using modern columnar analysis and SQL for strategy research, performance attribution and monitoring.\n\nStudy cross-venue price discovery, lead-lag relationships, fair-value construction and spot-perpetual basis while accounting for data staleness, instrument design and settlement-currency differences.\n\nSupport live strategies through PnL, inventory and exposure analysis, post-trade review and investigation of unexpected performance.\n\nEvaluate liquidity-program economics by balancing execution quality, market share, fees and incentives, and work with traders and engineers to translate research into robust production improvements.\n\nPresent findings clearly, including assumptions, limitations, risks and recommended next steps.\n\nWho You Are/Key Requirements - Quantitative Analyst (HFT)\nQuantitative and coding foundations: You are pursuing or recently completed a degree in mathematics, computer science, engineering, physics, quantitative finance or a related field. You are proficient in Python for data analysis, ideally including Polars or similar columnar tools, and comfortable with SQL, Git and command-line workflows. Experience with ClickHouse or another analytical database is valuable.\n\nElectronic market structure: You understand limit order books, order types, maker/taker mechanics, matching and priority rules, spreads, market depth and how trades move prices.\n\nExecution awareness: You can reason about the order lifecycle from signal to acknowledgement and fill, including exchange APIs, latency, queue position, partial fills, cancellations, fees, slippage and adverse selection.\n\nDigital asset markets: You understand key differences between spot and perpetual futures, including basis, funding, leverage, liquidation risk, settlement currencies and residual exposure.\n\nQuantitative reasoning: You are comfortable with probability, statistics, time-series analysis and evaluating noisy results without overstating significance.\n\nHands-on curiosity: Ideally, you have built or analysed something yourself-such as an order-book study, trading bot, exchange connector, backtest, execution simulator or market-data pipeline.\n\nTrading judgement: You naturally question whether an apparent edge survives latency, fees, market impact, changing liquidity and real execution constraints.\n\nOwnership and communication: You can structure an ambiguous problem, test assumptions and communicate findings and limitations clearly in English.\n\nNice to Have\nExperience working with exchange WebSocket/REST APIs and asynchronous market-data pipelines\n\nExposure to Rust or another systems programming language\n\nExperience with tick/order-book data, event-driven simulation or execution modelling\n\nA technical project demonstrating sustained interest in systematic trading or market microstructure\n\nOur offer\nA 6 month paid internship at world-renowned digital assets company with accommodation provided for entirety or part of it\n\nThe opportunity to learn about digital assets and blockchain from a 30,000 ft view of the entire ecosystem\n\nWorking from one of Brussels newest, nicest and most advanced office spaces\n\nA global, collaborative and tech-driven environment.\n\nAutonomy & Impact - our flat structure means you can contribute your ideas from day one and help shape the foundation that will power Keyrock’s future business.\n\nCulture of Excellence - we value nimbleness, drive for success, owner mentality and collaboration.\n\nOpportunity to leave your mark and start your career in one of the most reputable companies in the digital assets world\n\nWe are envisioning for the internship to be based pre-dominantly in Brussels. It is possible for a selected candidate to be based in London, UK, provided at least 1-2 months onboarding period would be spent in Brussels together with the rest of the interns cohort.\n\nOur recruitment philosophy\nWe value self-awareness and powerful communication skills in our recruitment process. We seek fiercely passionate people who understand themselves and their career goals. We're after those with the right skills and a conscious choice to join our field. The perfect fit? A crypto enthusiast who’s driven, collaborative, acts with ownership and delivers solid, scalable outcomes.\nAs an employer we are committed to building a positive and collaborative work environment. We welcome employees of all backgrounds, and hire, reward and promote entirely based on merit and performance.\nDue to the nature of our business and external requirements, we perform background checks on all potential employees, passing which is a prerequisite to join Keyrock. \nhttps://keyrock.com/careers/","description_format":"text","description_chars":8365,"description_truncated":false,"requirements":{"experience_years_min":null,"management_years_min":null,"team_size_min":null,"manages_managers":false,"education":{"level":"bachelor","optional":false},"security_clearance":false,"languages":[{"language":"English","level":"All levels","optional":false}]},"benefits":[],"hiring_locations":[{"name":"United Kingdom","iso":"GB","kind":"country"}],"hiring_excludes":[],"relocation_offered":false,"industries":["Blockchain & Crypto","Cryptocurrencies","DeFi","Hedge Funds & Alternative Investments"],"lifecycle":[{"event":"open","at":"2026-10-28T18:39:45Z"}],"visa":[],"liveness":{"score":90,"band":"hot","label":"Hiring now","p_open":1,"p_active":0.903,"p_room":1,"age_days":4,"expected_fill_days":27,"reasons":["conf:2","velocity","win:early","comp:junior"],"computed_at":"2026-11-02T06:13:15Z"},"pay":null,"html_url":"https://alion.io/job/keyrock-quantitative-analyst-intern-digital-assets-market-making-hft","json_url":"https://alion.io/job/keyrock-quantitative-analyst-intern-digital-assets-market-making-hft.json","meta":{"generated_at":"2026-11-02T18:43:05Z","cache_seconds":300,"methodology":"https://alion.io/methodology","terms":"https://alion.io/terms","contact":"https://alion.io/contact","api":"https://alion.io/developers","about":"Alion is a live layer of people, companies and AI agents: who they are, whether they are real and active right now, what they do and how to work with them, readable by people and by agents and paid per call.","catalog":"https://alion.io/catalog.json","usage":{"tier":"crawler_verified","counted_by":"address","units_charged":1,"used_today":26269,"day_limit":null,"remaining_today":null,"minute_limit":300,"resets_at":"2026-11-03T00:00:00Z"}},"offers":[{"id":"company.slices","title":"One company in depth, by slice","status":"live","price":{"credits":0.02,"usd":0.002,"plus_per_slice":{"credits":0.05,"usd":0.005}},"unit":"per company, plus each slice with data","note":"the employer in depth","call":{"mcp_tool":"get_company","arguments":{"id":175695},"rest":"https://alion.io/mcp/rest/get_company?id=175695"},"human":"https://alion.io/catalog?offer=company.slices&for=job%2Fkeyrock-quantitative-analyst-intern-digital-assets-market-making-hft"},{"id":"market.stats","title":"A market slice: pay, demand and time to fill","status":"live","price":{"credits":1,"usd":0.1},"unit":"per slice","note":"pay, demand and time to fill for this role and place","call":{"mcp_tool":"market_stats"},"human":"https://alion.io/catalog?offer=market.stats&for=job%2Fkeyrock-quantitative-analyst-intern-digital-assets-market-making-hft"},{"id":"job.search","title":"Open jobs by role, technology, place, pay and visa","status":"live","price":{"credits":0.02,"usd":0.002},"unit":"per posting in a list","note":"similar open postings","call":{"mcp_tool":"search_jobs"},"human":"https://alion.io/catalog?offer=job.search&for=job%2Fkeyrock-quantitative-analyst-intern-digital-assets-market-making-hft"},{"id":"company.verify","title":"Is this company real and active right now","status":"pilot","price":null,"unit":"per company","request":{"url":"https://alion.io/catalog/request","method":"POST","body":"{\"offer\": \"company.verify\", \"for\": \"job/keyrock-quantitative-analyst-intern-digital-assets-market-making-hft\", \"note\": \"what you need it for\"}"},"human":"https://alion.io/catalog?offer=company.verify&for=job%2Fkeyrock-quantitative-analyst-intern-digital-assets-market-making-hft"}],"agent":{"mcp":"https://alion.io/mcp/jobs","mcp_open":"https://alion.io/mcp/open","next":[{"tool":"get_job","arguments":{"id":3413604}},{"tool":"search_jobs","arguments":{"company":"keyrock.com","detail":"compact"}},{"tool":"match_people","arguments":{"job_id":3413604},"note":"people open to offers who fit this vacancy"}],"note":"The same data through MCP tools: https://alion.io/mcp/open needs no sign-in (compact searches, postings, people); https://alion.io/mcp with an Alion account has everything. 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