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Market Making

Practise quoting, taking, and inventory in live trading rounds.

Interactive games for candidates preparing for quantitative trading interviews. You work from partial information, post markets, and see the trading result.

1Game

The Conditional Book

Round 3 of 5Quote 2 of 4

Decision11s

Your card

7♣7

Centre

K♣K
4♥4
QK
QK
QK

Vale

Quotes from their own read of fair value.

Position 0

Keel

Lets inventory pull their market around.

Position +1

Sable

Adjusts when the public market moves.

Position −1

Vale is quoting

−20|+10

Sell at −20
Pass
Buy at +10

Your book

+1

Position

Cash−40
Fair value−30
Mark−70

The Conditional Book

Estimate fair value from your private card and the centre cards already face up. Take, pass, or trade against other quotes, post your own market, and keep inventory in range as more cards are revealed.

Fair valueQuotingInventory
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