Mission: Old Mission was founded with the idea of using technology to make markets more efficient. We Approach every day with a single, simple goal : Make something better.
Old Mission was founded with the idea of using technology to make markets more efficient. We approach every day with a single, simple goal: make something better.
Old Mission is a privately held technology company that provides liquidity in financial markets. The firm is committed to building a business whose core values and strategic vision are aligned with the long-term interests of the many markets in which we trade. We focus our resources on building systems, models, and trading strategies that help market participants efficiently transfer risk.
While Old Mission hires team members with diverse backgrounds, most employees have studied engineering, mathematics, or a related quantitative discipline. Employees at Old Mission work in Trading, Engineering, or Operations, with generalists operating across groups. Most of our people are comfortable writing code. Everyone is enthusiastic about building, tinkering and getting their hands dirty working on hard problems.
Old Mission does not have clients, and does not seek capital from outside investors. Founded in 2008, we have grown in size and scope every year. We trade billions of dollars of securities every day, covering virtually every exchange-listed asset class.
Investing in talented people will always be our best trade. We are willing to invest significant resources in making sure individuals who come to work at Old Mission are able to be as successful as possible at the firm.
We believe that it takes a while to fully understand our business and takes even longer to become a star. We don’t hire 10 people and fire half of them within 6 months like some of our competitors. We don’t hire to fill seats and or feel pressure to immediately fill specific roles. We start by finding smart, hard working, ethical people and design our business around leveraging their many talents.
We take pride in having created a truly entrepreneurial environment that has produced well-rounded employees who are excited about helping make our business better. We’re more interested in growing our trading volumes (which have exploded) than our headcount (which hasn’t).
We love interns. We hire undergraduates entering their senior year, as well as graduate students pursuing master’s degrees or PhDs, to work in one of our offices for the summer. We treat interns like full-time employees, paying full s†alaries and challenging them to perform. We view our internship program as a chance to mutually explore whether a full-time position is a good fit. We are actively seeking interns for both Technology and Quantitative Trading.
For access to our current full-time positions in trading, engineering and operations please see our open positions, as well the positions we have listed on Linkedin and StackOverflow.
Our interviews are hard on purpose. We want to make sure you have what it takes to succeed at Old Mission. Our interview process is designed to test a candidate’s technical skill and give them some insight into the problems we solve on a day to day basis. In addition to questions about your interests and personality, expect to write code and crunch numbers.
The process begins with a series of phone or on-campus interviews. Promising candidates are asked to complete a take home problem which often involves solving a trading problem with code and math. The final step is an expense paid trip to interview on-site with one of the firm’s partners.
We build things. Old Mission’s profitability hinges on our ability to engineer systems, construct models and compete based on price with some of the smartest people in the world. We come to work each day determined to make better markets by improving some aspect of our infrastructure.
Our traders try to determine what things are worth. We trade equities, currencies, commodities, bonds, options, futures and other derivatives. Some of our models are simple, while others are complex. Building new models requires imagination, curiosity, and the careful analysis of market data on our custom research infrastructure.
As we buy and sell securities, we acquire risk. Carefully measuring risk is essential to running a global automated trading firm. Our traders are not only responsible for figuring out what things are worth, but also deciding how much risk to allocate in a given market or security each day. All of this is done in real-time using proprietary systems and methods.
Opportunities arise when market prices diverge from our models. Our traders study these opportunities and how to best take advantage of them by executing trades. Traders work closely with our Software Engineers to design algorithms and strategies which interact with markets, while minimizing market impact.
We build high performance distributed systems that operate globally. These systems consume market data, run our models, interact with exchanges, and keep track of all of our positions and trades. We only see the scope of our efforts in developing safe, robust, well-engineered software growing over time.
Constructing trading models requires a robust research infrastructure. We have invested time and effort in tools that make it easy to conduct our research. Our software engineers build, improve and maintain this infrastructure.
Our systems are globally distributed. We have servers deployed in the major data centers that host exchange matching engines. We need to ensure that our traders and engineers are able to access these systems and use them in a safe and reliable way. Maintaining our private global network is a vital function to ensuring that we can trade and track our risk around the clock.
We always try to measure the impact of our decisions. In our world, things that get measured get managed. Operations professionals are in charge of finding ways to improve our business by strategically analyzing business decisions, quantifying their value, and measuring the results.
As Old Mission has grown, our Operations group has built out the infrastructure to manage the day-to-day business functions our traders and technologists rely on. Operations professionals run human resources, recruiting, billing and all the other essential functions of our business.
I worked at Old Mission Capital as an intern (Less than a year)
Old Mission Capital is in a great part of Chicago. Both their traders and developers are friendly, helpful people and the company is doing very well.
There really are not any cons to speak of. Perhaps some people would not like that the work week is longer than 40 hours.
Advice to Management
I do not have any advice to management. I thoroughly enjoyed my time at Old Mission and had a great relationship with all of the managers.
I applied through college or university. The process took 1 day. I interviewed at Old Mission Capital in October 2016.
Interviewed with Old Mission through college career fair. 30 minutes of problems in combo/probability/number theory/Fermi problems. I had 2 interviewers. They claim to want to test your mathematical reasoning and common sense (e.g. knowledge of certain well known constants, estimations, etc.) Very fast paced.
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