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Backtesting Jobs in Illinois (NOW HIRING)

TransMarket Group

Senior Software Engineer

Chicago, IL · On-site

$126K - $166K/yr

Leverage libraries you've worked on to facilitate backtesting and post-trade analysis of our trading strategies * Tune and refine existing components to improve performance, flexibility, and ...

IMC

Systematic Index Options Trader

Chicago, IL · On-site +1

Use backtesting and analysis tools to predict the impact of changes to our execution systems and continuously improve our performance * Work collaboratively with traders, quant researchers, and ...

DV Trading

Portfolio Manager

Chicago, IL

$200K/yr

Proven track record of live performance (beyond backtesting) * Strong return on capital (ROC) * Experience contributing to or leading successful trading teams * Ability to communicate effectively ...

TransMarket Group

DevOps/SRE Intern

Chicago, IL

$58.75 - $78/hr

Work directly with our Traders, Trade Developers, Platform Developers, and IT Team to automate and maintain systems for deployment of trading software, configuration management, CI/CD and backtesting ...

IMC

Systematic Index Options Trader

Chicago, IL · On-site

$250K/yr

Use backtesting and analysis tools to predict the impact of changes to our execution systems and continuously improve our performance * Work collaboratively with traders, quant researchers, and ...

TransMarket Group

Senior Software Engineer

Chicago, IL

$126K - $166K/yr

Leverage libraries you've worked on to facilitate backtesting and post-trade analysis of our trading strategies * Tune and refine existing components to improve performance, flexibility, and ...

TransMarket Group

Senior Software Engineer

Chicago, IL · On-site

$126K - $166K/yr

Leverage libraries you've worked on to facilitate backtesting and post-trade analysis of our trading strategies * Tune and refine existing components to improve performance, flexibility, and ...

DV Trading

Portfolio Manager

Chicago, IL

$200K/yr

Proven track record of live performance (beyond backtesting) * Strong return on capital (ROC) * Experience contributing to or leading successful trading teams * Ability to communicate effectively ...

DV Trading

Portfolio Manager

Chicago, IL · On-site

$200K/yr

Proven track record of live performance (beyond backtesting) * Strong return on capital (ROC) * Experience contributing to or leading successful trading teams * Ability to communicate effectively ...

DRW

Quantitative Trader - Futures

Chicago, IL · On-site

$150K - $250K/yr

Conduct rigorous research, backtesting, and performance attribution analysis * Continuously iterate on models to improve signal quality, scalability, and capital efficiency * Contribute to portfolio ...

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Backtesting information

What are the key skills and qualifications needed to thrive as a Backtesting Analyst, and why are they important?

To thrive as a Backtesting Analyst, you need a strong background in quantitative analysis, statistics, programming (typically in Python or R), and familiarity with financial markets, usually supported by a degree in mathematics, finance, or a related field. Proficiency with backtesting platforms (such as QuantConnect or Zipline), data analysis tools, and version control systems like Git is often required. Attention to detail, critical thinking, and strong problem-solving abilities are key soft skills that help ensure robust model evaluation and development. These skills are vital for accurately assessing trading strategies and minimizing risk in real-world financial applications.

What is backtesting?

Backtesting is the process of evaluating a trading strategy or investment model by applying it to historical market data. This helps traders and analysts see how the strategy would have performed in the past, which can provide insights into its potential effectiveness and risks. While backtesting can help identify strengths and weaknesses, it's important to remember that past performance is not always indicative of future results. The reliability of backtesting depends on data quality, strategy design, and how well it simulates real trading conditions.

What are some common challenges faced when backtesting trading strategies, and how can they be managed?

One common challenge in backtesting trading strategies is the risk of overfitting, where a model performs exceptionally well on historical data but fails in live markets. Data quality and availability can also pose issues, as incomplete or inaccurate data may skew results. To manage these challenges, it's important to use out-of-sample testing, robust data cleaning processes, and to validate strategies on multiple datasets. Collaborating with quantitative analysts and developers can also help ensure the backtesting process is thorough and reliable.

What is the difference between Backtesting vs Quantitative Analyst?

AspectBacktestingQuantitative Analyst
Primary RoleTesting trading strategies using historical dataDeveloping and implementing quantitative models for investment decisions
Required SkillsData analysis, programming, finance knowledgeMathematics, programming, financial theory
Work EnvironmentTrading firms, hedge funds, financial institutionsAsset management firms, hedge funds, banks
CertificationsOften none required, but CFA or CQF helpfulCFA, CQF, or advanced degrees common

Backtesting focuses on evaluating trading strategies with historical data, while a Quantitative Analyst develops models to inform investment decisions. Both roles require strong analytical skills and finance knowledge but differ in scope and responsibilities.

What are popular job titles related to Backtesting jobs in Illinois? For Backtesting jobs in Illinois, the most frequently searched job titles are:
What job categories do people searching Backtesting jobs in Illinois look for? The top searched job categories for Backtesting jobs in Illinois are:
Backtesting jobs near you

Software Engineer - Quantitative Development

Optiver

Chicago, IL • On-site

$200K/yr

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Posted 21 days ago

Job description

Overview:
You'll build the infrastructure and workflows that power systematic and semi-systematic trading at scale. Sitting at the intersection of research and engineering, this role enables large-scale experimentation, high-fidelity backtesting, and data-driven strategy development.
You'll partner closely with traders and researchers to turn ideas into measurable experiments-designing robust backtests, iterating quickly, and uncovering signal in complex datasets. The systems you build will be critical to exploring new trading strategies, refining execution logic, and supporting advanced techniques including machine learning.
This is a highly experimental environment where progress depends on speed, correctness, and the ability to ask-and answer-the right questions.
Technology at Optiver:
At Optiver we pride ourselves on being real engineers, not just coders. Our engineers work closely with traders to identify the business problems we face and determine how they should be solved. We apply a disciplined and scientific approach. We engineer simple, well-architected solutions that meet the dynamic needs of our traders. Our passion is to solve problems which really matter to the business, and we take pride in the quality of our solutions.
What you'll do:
  • Build and scale high-performance backtesting and simulation infrastructure
  • Design workflows that enable rapid experimentation and hypothesis testing
  • Translate trading ideas into testable models, signals, and research pipelines
  • Ensure realism and correctness in simulations (e.g., market microstructure, latency, data quality)
  • Develop tools to analyze performance, explain behavior, and guide iteration
  • Improve the speed, reliability, and usability of the research platform
  • Own the full lifecycle from idea → backtest → analysis → production

What you'll get:
You'll join a culture of collaboration and excellence, surrounded by curious thinkers and creative problem-solvers. Motivated by a passion for continuous improvement, you'll thrive in a supportive, high-performing environment alongside talented colleagues, collectively tackling some of the toughest challenges in the financial markets.
In addition, you'll receive:
  • The opportunity to work alongside best-in-class professionals from over 40 different countries
  • A highly competitive compensation package
  • Global profit-sharing pool and performance-based bonus structure
  • 401(k) match up to 50%
  • Comprehensive health, mental, dental, vision, disability, and life coverage
  • 25 paid vacation days alongside market holidays
  • Extensive office perks, including breakfast, lunch and snacks, regular social events, clubs, sporting leagues and more

Who you are:
  • Experience leading complex, large-scale engineering projects
  • Strong computer science fundamentals and sound engineering judgment
  • Ability to balance innovative thinking with practical execution
  • Proficiency in systems-level programming (e.g., C, C++, Linux)
  • A mindset of continuous improvement in a fast-paced environment
  • Willingness to set technical direction, uphold engineering standards, and take ownership of outcomes

Who we are:
Optiver is a tech-driven trading firm and leading global market maker. As one of the oldest market making institutions, we are a trusted partner of 70+ exchanges across the globe. Our mission is to constantly improve the market by injecting liquidity, providing accurate pricing, increasing transparency and acting as a stabilising force no matter the market conditions. With a focus on continuous improvement, we participate in the safeguarding of healthy and efficient markets for everyone who participates.
Optiver Chicago's culture parallels the energetic city we're immersed in. Home to the Chicago Board of Trade, Chicago Board Options Exchange, and Chicago Mercantile Exchange, Chicago has established itself as the trading capital of the US. Active on leading US exchanges, Optiver's Chicago office trades a wide range of products from listed derivatives to cash equities, ETFs, bonds and foreign exchange.
Our differences are our edge. Optiver does not discriminate on the basis of race, religion, color, sex, gender identity, sexual orientation, age, physical or mental disability, or other legally protected characteristics.
Below is the expected base salary for this position. This is a good-faith estimate of the base pay scale for this position and offers will ultimately be determined based on experience, education, skill set, and performance in the interview process. This position will also be eligible for a discretionary bonus (if determined by Optiver) and Optiver's benefits package with the benefits listed above.
Base Salary Range
$200,000-$200,000 USD

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