Summer Internship in Mumbai – Financial Strategies – Tesseract Financial Services
Please note that this internship is ONLY for Mumbai based students
Calling all the future Warren Buffetts. An exciting, once in a lifetime opportunity for Engineering students to work in an emerging area of Asset Management with a team with a combined experience of 30+ years with financial giants on Wall Street. This internship promises to provide an experience with the creation, testing and roll-out of investment strategies, especially from a quantitative view. The last date to apply is 10th June 2012 - hurry!
About Tesseract Services : - Tesseract Financial Services, a start-up by an IIT Madras alumnus and an IIT Bombay alumnus, is aiming to create a quantitative asset management/hedge fund. They are working on rolling out both structured (derivative) products and quantitative stock picking strategies for onshore and offshore investors.
About the Internship: - The candidate is expected to assist the team on multiple levels including understanding strategies, checking data integrity, write-ups, Excel based financial modeling and power point presentations. The candidate will be working with financial professionals with over 30+ years experience together in global markets. This is an excellent opportunity for someone looking to do cutting-edge financial work.
Who can apply: – The candidate must be based out of Mumbai and should be able to join immediately. Any graduate or post graduate with a quantitative (Math / Engineering / pure Science) background and decent programming skills (VBA / Java / MATLAB). Curiosity about financial markets is a bonus.
Number of internships available: – 1
Location: - Mumbai, India
Duration: - 4-6 weeks
Start date: - June 2012
Stipend : - Rs. 10,000/- per month.
Internship specific question: – Along with your application please upload answers to the following internship specific questions (.pdf, .doc, .rtf, <1MB):-
Answer the following questions to the best of your understanding. You will be assessed based on your approach followed to arrive at conclusions.
- What factors affect the trading price of an equity security?
- What are the various exchanges enabling secondary market trading in India? Which instruments/securities do they specialize in?
- Compare the following two websites:
Record your observations (comparisons, similarities, differences, etc.) between the two sites (3-4 paragraphs/bullet points would do). Based on this, what would you seek to improve in the Indian site? What about the NASDAQ site?
- Technical assignment:- Attached is a data file with call option prices on the S&P Nifty Index, downloaded from the NSE website (Click here to download the data file). Write code (in any language) to segregate the data into different worksheets, with the nearest expiry for each trading day (all strikes) in one worksheet, the next expiry in the next worksheet etc. Restrict yourself to three expiries out for every trading day.
Eg: Here’s an extract of strikes between 6000 and 6300 for one trading date Jan 2, 2012. The nearest three expiries are Jan 25, Feb 23 and Mar 29. You would ignore all the other expiries and put data corresponding to the Jan 25th expiry in a worksheet called ‘Expiry 1’, the Feb 23rd data in ‘Expiry 2’ and March 29th data in ‘Expiry 3’. You would retain all the fields shown. Repeat for all strikes and for all trading dates in the file. Be prepared to share your algorithm and code.
How to apply: - If all set, go ahead and apply here. The last date for applications is 10th June 2012 – Hurry!
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