Overview
Chicago Trading Company (CTC) is a proprietary trading and market making firm focused on options. Its core business is options on equities, indices, commodities and interest rates, plus related futures, underlyings and volatility trading.
Five options traders founded it in 1995, starting in US index options. CTC calls itself a quantitative trading firm, with quant research and systematic trading playing important roles across the business.
Chicago is the headquarters and the largest office. CTC also has offices in New York, Austin, London and Amsterdam.
On 20 Nov 2025 CTC named Lauren Rauch and Josh Schubkegel as Co-CEOs, with CEO Jonathan Grodnick stepping down.
Programmes
As of November 2026, CTC's early-careers page lists six roles, all in Chicago, plus a Talent Community sign-up. Associate Engineer and the PhD researcher role also list New York, and none are in London or Amsterdam.
Interns spend the summer with their intern class in Chicago, mixing options and quant coursework with team projects. Most CTC teams work hybrid, with Trading the exception.
Quant Trading Internship, Summer 2027
Mid-June to early August 2027, for bachelor's or master's students graduating between December 2027 and June 2028. All majors are welcome.
You join a team in a role that mirrors a full-time Quant Trading Associate, working on projects, looking for trading opportunities or both. You get a weekly one-on-one with your manager.
You need strong quantitative and analytical ability, plus basic programming or a willingness to learn Python. No finance experience is needed, but CTC wants a deep curiosity about finance and trading.
Housing with the other interns in downtown Chicago is free, and full-time placement is in Chicago.
Software Engineering Internship, Summer 2027
Same dates and graduation window as the trading internship. You need to be studying computer science, computer engineering or a similar field, with Java, C++ or Python experience.
The posting asks for a foundation in data structures, object-oriented programming and algorithms. Most full-time offers from it are in Chicago, with a few in New York.
Accounting Internship, Summer 2027
Same dates and Summer Associate cohort as the trading and engineering interns, in Chicago, for students graduating between December 2027 and August 2028.
Quant Trading Associate
The QTA is CTC's entry-level trading and quant role. You sit on a trading or quant team and work towards graduating from the Associate Program into a Quant Trader or Quant Researcher role.
The work covers trade execution, strategy, back-testing, data analysis, and modelling and pricing derivatives. CTC says early-career traders also monitor markets, take part in trading exercises and simulations, and work with researchers and engineers on tools and strategies.
As of November 2026 there is no standalone 2027 QTA posting. The QTA listing on CTC's board is the Options Theory Intensive, covered below.
Associate Engineer, 2027 Start
For students graduating between December 2026 and June 2027 with a strong foundation in an object-oriented language. You should be able to apply data structures, algorithms and multi-threading to real problems.
Most positions are in Chicago and a few are in New York. The Chicago and New York postings are the same job, so apply to one and set your location preferences in the application.
Systematic Quantitative Researcher, PhD
You need a PhD in a science or engineering field such as statistics, maths, applied maths or operations research, plus advanced Python and a track record of publications in industry. The posting lists Chicago and New York.
CTC matches you to one of its two teams, Vol Overlay or Delta Force, at the start of the process.
Application
You can send one application per position in a recruiting cycle, for example one each for the QT and SE internships, or for Associate Engineer and QTA. Each application is judged against that role's own requirements.
CTC says candidates may come from maths, statistics, computer science, engineering, economics or finance.
If no role fits yet, join CTC's Talent Community to hear about the autumn campus recruiting season.
Online assessment
Depending on the position, CTC may invite you to a quantitative aptitude assessment or a coding exercise. It may also send practice materials so you understand the format.
CTC does not publish the provider, length or content of either test.
As of September 2026, a Python software engineering candidate passed a hiring screen and an online assessment before the interviews.
Interviews
CTC says its process is meant to help both sides judge fit, behaviourally and technically. The interviews focus on how you think, solve problems and work with others, and you get chances to meet the team.
What CTC looks for
- Trading: you enjoy mental math, games, strategy and open-ended logic problems.
- Quant research: you enjoy working with data and turning abstract ideas into practical mathematical models.
- Technology: you enjoy computer science and system design, and seeing your work used in real time.
- Everyone: the five standards on CTC's careers page, which are rigorous thinking, curiosity, ownership, collaboration and low-ego leadership.
CTC defines low-ego leadership as pushing strong ideas, staying open to better ones and putting the outcome ahead of personal credit. Have a story ready for each standard.
Software engineering interviews
The software engineering processes below run from 2024 to 2026, newest first. Some are experienced hires, and none covers the trading roles.
- As of October 2026, a Python software engineering candidate was told their next stage was a behavioural round followed straight away by a CoderPad round, 60 minutes each.
- As of September 2026, an engineer with nine years' experience had eight rounds, including one on CPU architecture, and the last was a system design round run as a conversation.
- As of January 2025, an engineering technical round was LeetCode-style, and the onsite had almost two hours of "tell me about a time when you did X" questions.
- As of July 2024, an engineering loop had no LeetCode questions and a good amount of concurrency and lock-free synchronisation.
- As of July 2024, a software engineering candidate had initial technical and behavioural rounds before an onsite loop.
The Associate Engineer posting asks for multi-threading, and as of July 2024 one engineering loop covered concurrency and lock-free synchronisation. Revise both alongside data structures and algorithms.
Final round
Finalists may be invited to meet employees and look round the office. CTC does not publish the format of the final round or of the Options Theory Intensive's assessment day.
Options Theory Intensive
The Options Theory Intensive is CTC's five-day Introduction to Options Theory Program, designed to fast-track you towards the Quant Trading Associate role. It runs 4 to 8 Jan 2027, and you should arrive the evening of 3 January.
It is open to bachelor's and master's students of any major graduating between December 2026 and June 2027. The QTA role means relocating to Chicago.
You get four days of hands-on learning from trading professionals at CTC's Chicago headquarters and one assessment day. Top performers on that day can earn a final-round interview for the QTA role.
CTC covers travel to Chicago, meals and the hotel.
Training
QT, SE and accounting interns form one Summer Associate cohort. QT and SE interns take three classes:
- Basics of Options, a week-long class.
- Mock Trading, a multi-week class on the fundamentals of market making.
- Quant Curriculum, a multi-week class on elements of CTC's quant framework.
CTC's education team runs the Basics of Options courses on options, volatility and market making. Its early-careers page also lists Intro to Market Making sessions, where participants practise pricing, risk and decision-making alongside CTC leaders, with some friendly competition.
Quant Trading Associates train with an in-house education department. They learn options pricing, theory, trading philosophies and programming through classroom work, mock trading and real-time practical exposure.
New Associate Engineers take a combined trading and technology curriculum, which includes shadowing one of the trading desks.
How to prepare
- CTC says trading candidates may be a fit if they enjoy mental math. Do timed arithmetic before any quantitative aptitude assessment, and work through the practice materials if CTC sends them.
- CTC's interviews focus on how you think, and it wants trading candidates who enjoy open-ended logic problems. Practise logic puzzles and say your reasoning out loud as you go.
- Learn what calls and puts pay at expiry, and practise pricing simple bets by expected value. Options are CTC's core business, and QT and SE interns take a week-long Basics of Options class.
- CTC is an options market maker, and QT and SE interns take a multi-week Mock Trading class on market making. Practise quoting a two-sided price and managing the position after each fill.
- If you graduate between December 2026 and June 2027 and want to trade, apply for the Options Theory Intensive. Top performers on its assessment day can earn a final-round QTA interview. CTC says trading candidates who enjoy mental math may be a fit, so keep yours sharp before 4 January.
Practise:Mental math trainerFree reasoning testsProbability practiceDice Market MakingPremiumDaily Tests
FAQ
Does Chicago Trading Company have a graduate programme?
Yes. The Quant Trading Associate is CTC's entry-level trading and quant role, and associates work towards graduating from the Associate Program into a Quant Trader or Quant Researcher role. As of November 2026 the only QTA posting is the Options Theory Intensive, for students graduating between December 2026 and June 2027. Engineers apply for Associate Engineer, 2027 Start, in Chicago or New York.
What is the CTC online assessment?
Depending on the role, a quantitative aptitude assessment or a coding exercise. CTC may send practice materials so you understand the format, and it does not publish the provider, length or content.
How many interview rounds does Chicago Trading Company have?
CTC does not publish a number. Selected candidates have behavioural and technical interviews, and finalists may be invited to meet employees at the office. As of October 2026, a Python software engineering candidate was told their next stage was a behavioural round and a CoderPad round back to back, 60 minutes each.
Where are the CTC internships?
Chicago. The Summer 2027 quant trading, software engineering and accounting internships all run there for eight weeks, and quant trading interns get free housing with other interns downtown. Quant trading full-time placement is in Chicago, and most software engineering full-time offers are in Chicago, with a few in New York.
What maths does Chicago Trading Company test?
CTC does not publish a topic list. It says trading candidates may be a fit if they enjoy mental math, games, strategy and open-ended logic problems, and the quant trading internship asks for strong quantitative and analytical ability. Start with timed mental arithmetic, then logic puzzles.
Do I need a finance background for CTC?
Not necessarily. The quant trading internship needs no finance experience, though it wants a deep curiosity about finance and trading. CTC says candidates may come from maths, statistics, computer science, engineering, economics or finance.