Old Mission Capital Career Overview | Glassdoor

Old Mission Capital Overview

Chicago, IL
1 to 50 employees
2008
Private Practice / Firm
Brokerage Services
Unknown / Non-Applicable
Old Mission Capital is a proprietary trading firm with offices in Chicago and New York City. In the competitive world of electronic trading, we use quantitative techniques and advanced technology to identify profitable trading opportunities around the ... Read more

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 Capital – Why Work For Us?


NEVER STOP IMPROVING

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.

COMPANY

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.

PEOPLE

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.

RESULTS

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.

BUILT FROM SCRATCH

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.

Quantitative Traders Build…

Models for security valuation:

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.

Tools for risk management:

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.

Trading algorithms:

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.

Technologists Build…

Our automated trading system:

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.

A framework for quantitative research and back-testing:

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.

Old Mission’s global communications network:

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.

Operations Professionals Build…

Systems for quantitatively understanding business decisions:

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.

Infrastructure to support Old Mission’s growth:

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.

WE INVEST IN TALENT

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).

HOW DO YOU GET A JOB AT OLD MISSION?

Internships

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.

Direct Full Time Hires

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. 

WHAT IS THE INTERVIEW PROCESS LIKE?

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.

 

HOW ARE EMPLOYEES COMPENSATED?

All Old Mission Capital employees receive excellent benefits, including:

  • Extremely competitive base salary with a discretionary bonus
  • First rate medical, dental and vision insurance paid for by the firm
  • Pre-tax employee programs such as Commuter Benefits, Healthcare and Dependent Care Flexible Spending Account (FSA)
  • 401(k) and Roth 401(k) with company match
  • Fully stocked kitchen with complimentary breakfast, healthy snacks and beverages
  • Free lunch catered by local restaurants
  • Paid vacation for all new hires
  • Reimbursement for work-related classes, books, and professional development
  • Annual poker tournament with great prizes
  • Relaxed, casual work atmosphere

WHAT’S IT LIKE TO WORK AT OLD MISSION?

Here are a few less obvious benefits to working at Old Mission:

  • We have extremely low employee turnover. We think that this happens when people are happy with their pay, work environment and the direction of the company.
  • We are a young firm. Most of our competitors have been around for a long time, and have layers of employees at every position. Old Mission still has a startup feel and our “to do” list is extremely long. For entrepreneurial types who want to leverage their talents, there may be no better place to start your career in trading.
  • We don’t have investors, clients, or shareholders. Old Mission is run entirely using partner and employee capital. This allows us to focus on what we are good at: building software and taking risk. We are free to focus on maximizing our risk adjusted returns, free from distractions and conflicts of interest.
  • The founding partners have technology backgrounds and are committed to building a world class infrastructure. To us, solving the technology problems inherent to electronic trading is fun, not work. Many of our competitors were founded before electronic trading rose to prominence.

Old Mission Capital Reviews

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  • "A High Quality, Educational Software Development Internship Program"

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    Current Intern - Intern
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    Positive Outlook

    I have been working at Old Mission Capital as an intern

    Pros

    - The weekly classes were very helpful in learning the basics of working in finance.
    - I received many opportunities to contribute to real problems; code I wrote was integrated into production systems.
    - Coworkers were friendly and helpful, willing to spend time talking with me.
    - The company culture is welcoming, not intimidating.
    - The provided lunch and open kitchen are excellent!
    - There were several fun outings and company events, which I really enjoyed.

    Cons

    - Coursework did not focus specifically on software development or computer systems, but I was able to pick a lot of this up as I went.

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Old Mission Capital Photos

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Old Mission Capital Interviews

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  1.  

    Intern Interview

    Anonymous Interview Candidate in Newark, NJ
    No Offer
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    Easy Interview

    Application

    I applied through an employee referral. The process took 2 weeks. I interviewed at Old Mission Capital (Newark, NJ) in August 2017.

    Interview

    talked with recruiter about resume during phone screen, talked about past work experiences and interest in trading, talked about old mission's internship, had a lot of time to ask questions about the program

    Interview Questions

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