Quant jobs / HSBC

Quantitative Research Internship – Equity Derivatives

A six-month internship, starting January 2027, in the equity derivatives quant research team on the trading floor. Projects cover volatility modelling and fast pricing methods.

What you’d work on

Our reading of the posting: what a new hire in this role would most likely spend their first months on.

Work on one project from a list of volatility modelling topics
Possible topics include Markov chain approximation of local stochastic volatility
Possible topics include joint SPX and VIX calibration
Possible topics include fast local volatility and neural-network pricers
Possible topics include VAEs for volatility surfaces

What they ask for

Required

Final-year master's level in market finance, data science or IT
Object-oriented programming in Python or C++
Strong quantitative analysis
Fluent English

Education: Final-year master's level (bac+5) in market finance and/or data science or IT
Experience: Students; six-month internship from January 2027
Languages and tools: Python
C++
Markets: equities, options

How to prepare

Implement a local volatility model and calibrate it to an option surface
Read about stochastic and local-stochastic volatility models and why SPX and VIX calibrate together badly
Train a neural network to approximate an option pricer and measure its error
Learn arbitrage-free conditions for implied volatility surfaces

What to study

The Volatility Quant roadmap sets out the stages for this kind of role, with free resources for each.

Open the roadmap

Apply

Read the full posting on HSBC’s site before applying: requirements, location and pay can change after we check them.

View the posting on HSBC’s site ↗

SelfMadeQuant wrote this summary from the employer’s public posting, last checked 6 November 2026. SelfMadeQuant isn’t affiliated with HSBC and doesn’t handle applications.