Trader Spotlight

Chenglong is a quantitative trader at Midas Technologies. As a recent graduate and one of the newest members of the team, he shares his unique perspective.

Tell us about yourself.

My name is Chenglong. I recently graduated from Renmin University of China with a bachelor’s degree in finance. Before I graduated, I interned with the team for a year. My career path has been quite different from my peers. While most finance majors strive for internships in consulting and investment banking, I instead spend my time on coding and modeling, leading me to Midas.

Why did you choose high-frequency trading?

I follow my interests. During college, I participated in several business competitions and entrepreneurial projects, as well as some modeling competitions and hackathons, usually finding myself drawn towards the latter events. After many similar experiences, I confirmed my interests and decided to pursue a job where I can write code and build models.

There is a book titled Bullshit Jobs that talks about the emergence of pointless jobs, which only make people busier. I deeply believe in the value of work and would never choose such a role. When I was an intern at Midas, I witnessed how low-latency trading improves the liquidity in the market, reducing transaction costs, and driving the market to be more rational and stable. I sense the creation of value.

Why Midas? What do you think of this company?

I chose Midas for four reasons:

1. I have a good opportunity to grow with the team. During my one year at Midas, I gained experience in the industry, learned great relevant knowledge, and got more familiar with the business. I am confident that I will be competent for more important roles here.

2. I agree with the philosophy of the company. Midas has an international vision with long-term greed, and would never kill the goose to get a few golden eggs. It is not running in a small operation style, which is commonly seen at other quant firms. Everyone in the team can give full play to their values.

3. Midas has great benefits for employees. During my internship, I already had a decent pay and it was improved after I took the return offer. At Midas, the bonus is paid quarterly, which I appreciate.

4. The culture at Midas is great. Here, at Midas, we embrace openness, equality and communication. For example, the name of the company is voted by the team. In leisure time, we play foosball and Super Smash. Besides, we are not encouraged to punch card and work overtime, and we enjoy unlimited vacation.

What is the application process like? How do you prepare for it?

I participated different projects during my internship and decided to take the return offer as a logical next step.

Quantitative trader is a combination of programmer and product manager at Midas. We need to write a lot of code as well as work side by side with engineers. To get ready for all this, you should hone your coding skill, and also show your communication skill.

As a recent graduate, what would be some points that you want to share with those who wants to take their first step into the industry from campus?

I think practice comes first. It is quite common to feel confused with future career. However, those confusions cannot be cleared up easily. You will not be so certain about what kind of job you like until you gain some hands-on experience. Once you figure out the true interest of yours, it is not late to think more about your future career.