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The Details

BΛCK

LONDON – 2023 LONG TΞЯM INTΞЯNSHIP – AMM COMMODITIΞS

 

Job type                                               Trainee / Internship

Job Function                                       Digital transformation and data

Brand                                                    BNP Paribas Corporate & Institutional Banking

Study level                                           Master Degree or equivalent (> 4 years)

Location                                               London, England, United Kingdom

Who We Are

BNP Paribas Corporate & Institutional Banking (CIB) is a leading European investment bank with global leadership in many of our businesses. We are part of the BNP Paribas Group, a financial institution with solid foundations and a proven ability to adapt to change. If you are thinking about a career in investment banking, there is no better place to begin your journey than with BNP Paribas CIB. With nearly 30,000 employees in over 55 countries, we can offer you an exciting start to your career.

At BNP Paribas CIB, we work continuously on behalf of our clients, helping them to realize their projects around the world. You can be an important part of this, helping us to serve our clients both in mature and emerging markets, providing them with financial solutions across a diverse range of expertise, products and services. Our origins lie in Europe but nearly a quarter of our employees now works in our multi-award-winning Asia Pacific offices and we are a committed player in all markets.

Strong risk management, combined with the stability that comes from being part of one of the largest banking groups in the world, underpin our success. Joining us, you’ll become an integral part of a dynamic team that spans nationalities, cultures and backgrounds, drawing together people from around the globe and reflecting our commitment to international placements.

Business Area/Dept Overview:

AMM (Automated Market Making) work is ranging from building electronic market making strategies, algorithm design, execution strategies to provide liquidity internally and externally on large range of products and subsequently hedging risk inherited from internal and exchange flows. The day to day job is highly quantitative and IT driven.

During his internship, the candidate will be based in London. There will be a strong focus on quantitative research/trading and with strong interaction between quant traders and IT strategist (both in Paris and London). The primary working landscape will be on fair value calculations and execution optimization. The underlying will range from base metals, oil, gas and soft commodities.

Purpose & Scope of role:

The team is working on the automated execution of futures and spreads targeting settlement prices around the roll period. This is a key project in collaboration with the QIS (Quantitative Investment Strategies) desk and will incur a significant flow.

While the framework is being put in place to handle wide range of market conditions and to adapt to it, the desk will be looking to improve the overall performance of the execution through:

  • Improvement of the prediction of order book moves using cross instrument micro-structure data (e.g. TAS, outright futures, curve modelling etc.).
  • Volatility modelling accounting for seasonality and heteroscedasticity (e.g. GARCH, SARIMA, etc.).
  • Open interest intra-day prediction through implied volumes regression in order to unveil participants involved.

The internship will involve heavy market data analysis, statistical validation of the results and after implementation in our platform a final phase of back-testing and calibration of the strategies.

Key Responsibilities of role:

  • Being fluent with internal tools, back testing tools and analytics library (Lynx/XTI/EDGEstat)
  • Back-test systematic Market Making strategies
  • Perform simulation of execution stratégies
  • Help improve execution both liquidity placement and liquidity taking
  • Work on modelling cross assets relationships
  • Work with strategist to implement tools adaptation (Automaton : Edge / Backtester : Lynx)
  • Handle production as other members of the team.
  • Perform Academic research digest on quant modelling topics

Experience, Qualifications & Competencies:

  • Excellent Analytics and Quantitative skills
  • Knowledge of programming language : Python is a must, Java is a plus
  • Demonstrate tenacity
  • Strong interpersonal skills and proactive approach to problem solving
  • Ability to work under pressure and multi-task
  • Strong organisational skills
  • Team Player
  • Strong academic record, by preference Master in Quantitative finance
  • Previous internship or work experience related to modelling/programming is a plus

Conduct

  • Be a role model, supporting and fostering a culture of good conduct
  • Demonstrate proactivity, transparency, and accountability for identifying and managing conduct risks
  • Consider the implications of your actions on colleagues

Start Date: August 2023

Salary: Competitive                                         Length of Internship: 6-11 months

Primary Location                                              GB-London

Job Type                                                               Long Term Internship

Job                                                                         Not applicable

Reference                                                            2059

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About BNP Paribas

BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 65 countries, with more than 190,000 employees, including more than 145,000 in Europe.
BNP Paribas holds leading positions in its three major operating divisions:

⚆ Commercial, Personal Banking & Services for all the Group’s retail banking networks and several specialised businesses, including BNP Paribas Personal Finance and Arval;
⚆ Investment & Protection Services for savings, investment and protection solutions;
⚆ Corporate & Institutional Banking, which is focused on corporate and institutional clients.

The Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance.

In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the European leader in consumer lending.

BNP Paribas is rolling out its integrated retail-banking model in Mediterranean countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Institutional Banking and Investment & Protection Services activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.

Long Term Internship

Our long-term internships are the perfect platform to launch a long-term career with us. Running between six and 11 months, and with learning and development opportunities throughout, you’ll gain an in-depth knowledge of the investment banking sector and discover where a career in banking could take you.

The person:

These internships are suited to individuals who are curious and determined, displaying a strong collaborative spirit that will help them succeed on the programme and beyond. Having analytical skills and mathematical aptitude is a benefit, but the degree you have isn’t as important as the ideas and ambition you’ll bring to the team, and your desire to excel on this career path. To apply, you must be a student on a placement year, or graduate who completed your studies under a year ago.

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