Our employees are our greatest asset. We have spent years building a team of talented, dedicated technologists, data-driven traders, and expert leaders with an emphasis on our core pillars:People, Process, Trading Edge, and Technology. Simplex is an in-office organization, helping to foster a collaborative and communicative culture.

Position Summary

As a Volatility Trader at Simplex, you will take an analytical approach to identifying market opportunities with favorable risk-reward profiles with the goal of generating trade ideas and enhancing our core market making pricing systems. We expect that you have experience thinking about volatility valuation through a variety of lenses, including analysis of implied-vs-realized, term structure and event pricing, skew surface dynamics, and relative value or cross-asset relationships. You will manage discretionary positions and work closely with our existing market making team to create systematic pricing overlays and improve hedging, risk management, and edge capture.

Key Responsibilities

Conduct research to identify market dislocations, mispricings, or other trading opportunities in the volatility space.
Monitor and manage live positions with a focus on order flow dynamics and counterparty behavior.
Work closely with Simplex's core market making team to develop systematic approaches to volatility valuation or pricing overlays.
Continuously improve the firm's toolset for volatility research, risk management, and P&L attribution.
Clearly communicate and document research methodology and trading decisions for collaboration and review.

Required Qualifications

Minimum 3–5 years of professional experience in a volatility trading/research or portfolio management role.
Demonstrated track record of generating and executing profitable trading ideas.
Strong practical foundation in options theory and Bayesian statistics/probability.
Strong analytical judgment under uncertainty; able to operate decisively under constraints.
Precise technical communication skills; able to concisely present conclusions and articulate associated inputs, assumptions, and process.
Sufficient technical skills to independently interface with data and prototype research ideas.

Annual base salary ranges from $150,000 to $200,000, and is influenced by a number of factors, including qualifications and experience. This role is also eligible for an annual discretionary bonus, of which can be a significant portion of total compensation. This full time role is also eligible for other forms of compensation and benefits including health/dental/vision insurance, and 401(k) contributions.

Algorithmic Trader pay range

$150,000—$200,000 USD

Why us?

Founded in Chicago in 2004, Simplex is a leading, technology-driven, proprietary market-making firm. We work with the most advanced technology and software in the market, and we’ve continued to remain at the forefront of the industry by always focusing on innovation, automation, and data-driven analysis. We also leverage our experience and expertise to make strategic investments and capitalize on opportunities in the venture capital markets with promising, early-stage financial and technology start-ups.

PLUS, the goods!

Benefits: Excellent a la carte Medical/Dental/Vision (free employee coverage!), 401(k) match, generous parental leave!
The Office: The kitchen is stocked with snacks, and beverages; you also have daily stipends for breakfast and lunch!
Tuition Reimbursement: As an investment in our employees’ careers and the company’s future, we offer educational assistance to provide employees with professional development opportunities that increase their skills and enhance their contributions to the organization!
Employee Discounts: To gyms, national brands, and more!
Building: We are located in the Federal Reserve building. As a tenant, you have access to a building gym and a full cafeteria. We are easily accessible to all public transportation.
Charity Match: We match up to $2,000 a year in donations to the charities of your choice!
Fun Events: In-person happy hours, celebrations throughout the year, game nights, video game fun, and so much more!

Simplex is an Equal Opportunity Employer. Simplex and its recruitment partners may use artificial intelligence (AI) tools to support certain aspects of the recruiting and hiring process. Final hiring decisions are made by humans. For all job postings, Simplex may use AI to review and analyze applications, resumes, interviews, and applicant responses. Simplex complies with applicable federal and state laws governing AI use. Applicants may still request reasonable accommodations. For more information related to AI or to request an accommodation, please contact [email protected].

Algorithmic Trader pay range 150000 - 200000 USD

About the company

Simplex Trading is a technology-driven proprietary trading firm that builds its own software and trading systems to identify and capitalize on financial opportunities. It develops and optimizes trading strategies for various markets using algorithms and automation. The company differentiates itself by maintaining an in-house team of technologists and data-driven traders, building a scalable tech stack rather than relying on third-party platforms. Its goal is to generate growth and opportunity in technology-enabled markets through disciplined execution and continuous improvement of its trading software and methods.

Company Size

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Company Stage

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Total Funding

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Headquarters

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Simplify's Take

What believers are saying

Built In named Simplex Trading a Best Place to Work for 2026.
Management is actively hiring senior operators, signaling expansion rather than retrenchment.
Simplex continued adding businesses in 2026, including foreign-currency MMF and next-trading-platform projects.

What critics are saying

Options-market compression and a shrinking edge can erode Simplex Trading’s spreads within months.
Stricter U.S. exchange and SEC oversight raises compliance costs and trading restrictions after October 2025.
A single major risk-control failure or clearing loss could cripple a proprietary market maker immediately.

What makes Simplex Trading unique

Simplex Trading built a proprietary market-making franchise in equity options and future options.
Dennis Kerlin joined as Chief Compliance Officer in October 2025, strengthening regulatory discipline.
Ben Londergan joined in June 2024 to expand JBO, products, and geographies.

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Benefits

Health Insurance
Dental Insurance
Vision Insurance
401(k) Company Match
Parental Leave
Tuition Reimbursement
Employee Discounts
Charity Match
Meal Benefits
Company Social Events

Company News

ETFDailyNews.com

Sep 24th, 2025

VanEck High Yield Muni ETF $HYD Shares Sold by CX Institutional

Finally, Simplex Trading LLC purchased a new stake in VanEck High Yield Muni ETF in the 1st quarter valued at approximately $40,000.

Finance Magnates

Jun 10th, 2024

Prop Firm Simplex Trading Welcomes Seasoned Veteran as New Managing Director

A financial and trading industry veteran with over 25 years of experience, Benjamin Londergan, joined Simplex Trading in June as the Managing Director of Strategic Business Development.

Business Wire

Feb 7th, 2024

Spline Data Announces Successful Release Of Real-Time Predictive Municipal Bond Pricing Product

CHICAGO--(BUSINESS WIRE)--Spline Data, a quantitative U.S. municipal bond data provider, today announced the successful release of its second municipal bond data product that provides real-time bid/ask pricing estimates to its growing list of customers. Spline’s new pricing data feed aims to utilize every trade in the municipal market—similar to its yield curves launched in 2023—and in contrast to traditional data feeds skewed toward institutional round lots. Updating every five minutes, Spline’s pricing feed offers a plug-and-play solution for building automation into municipal trading strategies. “As in many other markets, most of the software needed to trade municipal bonds in an automated fashion is available off the shelf, but a critical missing piece has, until now, eluded most desks: algo-quality pricing,” said Matthew Smith, founder and CEO of Spline Data. “In the past year, we’ve seen firsthand how quickly Spline customers’ businesses evolve utilizing our curves alone

MarketBeat

Feb 3rd, 2024

Veradigm (NASDAQ:MDRX) Research Coverage Started at StockNews.com

Simplex Trading LLC purchased a new stake in Veradigm in the 2nd quarter worth approximately $38,000.

Manchester Times

Jan 13th, 2024

Built In Honors Simplex Trading in Its Esteemed 2024 Best Places to Work Awards

Simplex Trading, a leading technology-driven, proprietary trading firm and one of the country's top market makers in equity options, today announced that it has been honored in Built In's 2024 Best Places To Work Awards.

Simplex Trading

Volatility Trader

About the job