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XTX Markets

Prop / Market Maker · ML-driven algorithmic market maker · London

Machine-learning-first market maker (dominant in FX), expect first-principles ML and statistics, not mental-math games.

Difficulty: ●●●●●Recruits in India

XTX is a quantitative market maker known for ML-driven strategies, dominant in FX and active across asset classes. Its interviews are ML- and statistics-heavy, with very small, selective intake.

Unlike the options market makers, it is not a mental-math-game shop, the bar is deriving ML/stats results from first principles.

Roles they hire

Quant Researcher · Software Engineer · ML/Data Engineer

Interview processas publicly reported

  1. 1

    Recruiter screen

    ~20–30 min: background and role fit.

  2. 2

    Online assessment

    Timed test (~60 min); researchers may get a take-home ML/statistical problem, engineers a HackerRank-style coding test.

  3. 3

    Technical phone screen

    ~60–90 min: probability/statistics, ML theory, discussion of the take-home.

  4. 4

    Onsite/virtual loop

    ~4–6 rounds: coding, research/ML deep dive, probability & statistics, system design (engineering), behavioral. Timelines run long (~50 days reported).

What they test

Statistics →Probability →Coding →

Prep tips

  • ▸Be able to derive ML/stats results from first principles (backprop, bias-variance, EM, SVD, regularization) and implement algorithms from scratch.
  • ▸Pair strong C++/Python with systems/latency reasoning; ESL, Bishop's PRML, and López de Prado are commonly cited.

India recruiting

Mumbai office (engineering/research). Most hiring, especially quant research, remains London-centric, so Mumbai is not the primary quant-research recruiting hub.

Sources

Interview processes change and vary by role, office, and year. This guide reflects publicly reported experiences and is not affiliated with XTX Markets.

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