Prix de Credit Default Swap 5 ans (Coupon=100) à la fermeture du marché le à 17h de Londres (source DataGrapple)

Un instrument : le CDS

Le "Credit Default Swap" (CDS) est un instrument financier permettant de transférer le risque de crédit d'un émetteur entre deux investisseurs. Le CDS offre aux investisseurs un outil très simple et très liquide pour se couvrir ou investir. Le prix du CDS est le thermomètre de marché du risque d'un emprunteur.

Un processus : l'arbitrage

L'arbitrage est une technique d'investissement qui combine des achats et des ventes d'instruments financiers dont les risques se compensent. Le rendement net des portefeuilles ainsi constitués est la marge d'arbitrage. La performance des portefeuilles d'arbitrage n'est pas dépendante de la performance des marchés financiers.  Les arbitrages sont des processus d'investissement mettant en oeuvre du levier, ces investissements sont réservés aux investisseurs professionnels. 

Une équipe : HC

Hellebore Capital (HC) est une société de gestion spécialisée dans les arbitrages de dérivés de crédit. La technologie d'HC lui permet d'être active sur l'ensemble des marchés de dérivés de crédit, de l'Europe à l'Amérique du Nord en passant par l'Asie. Si vous souhaitez obtenir plus d'informations sur HC et ses produits vous pouvez effectuer en ligne une demande de création de compte. HC est régulée par la FCA.

Offres d'emploi

ANALYST DATA / IT FRONT OFFICE

Hellebore Capital, London in association with its FinTech sister company, Hellebore Technologies, Paris has developed a front-to-back real-time solutions platform to invest in over-the-counter credit derivatives markets. Within this context, Hellebore rethinks continuously the way it sources, validates and distributes data and this, in turn, design drives and adoption of new architectures covering all aspects of data handling including sourcing, cleaning, transformation, enrichment, transmission and storage.
The Analyst DATA / IT Front Office position is at the critical center of our business and our dynamic, developmental environment requires innovative strategic thinking and immediate, real-time solutions. Analyst DATA / IT Front Office will be in charge of developing on-the-fly solutions, leveraging the existing Hellebore open architecture. They will be expected to leverage the numerous internal Python's libraries, the company's large-scale computing capacity and various web portals. Analyst DATA / IT Front Office will also be closely related to a new Django project for data dissemination.
WHO WE ARE LOOKING FOR. The Analyst DATA / IT Front Office will be responsible for developing tools used to streamline investment decisions, risk analysis or operational processes directly interacting with front office traders and leveraging our technology partners. Hellebore is looking for innovators and problem-solvers, providing market risk management solutions, big data and more; the successful candidate will oversee the operation of its platforms and support the continuing automation of processes. Hellebore focuses on automation and 'tooling' both to eliminate unnecessary manual effort and to enhance monitoring capabilities.
POSITION REQUIREMENTS
  • Owning the relationship between the portfolio managers and the technology partners
  • Developing specialist knowledge in systems, sharing knowledge with team members and partners
  • Managing projects through completion, adhering to project-management best practices
ATTRIBUTES
  • You have knowledge of Trading or Risk Functions - or can adapt your existing experience to the financial markets.
  • You have experienced the demanding nature of delivering real time solutions.
  • You are experienced in SQL and have a strong understanding of how relational databases work.
  • You know Python to an advanced level to automate processes or have a development background
Send your application to: Hellebore HR

QUANTITATIVE RESEARCH

Based in London since 2016, Hellebore Capital is a hedge fund specializing in Credit Default Swaps arbitrage since 2013. The Company has steadily increased its assets under management based on this highly focused investment strategy. Combining new technologies with its over-the-counter dealer relationships, the Company can invest in the global credit markets to deliver specific opportunities for alpha for its investors. The Company is now working on the launch of a new investment vehicle, leveraging past years’ research efforts. Hellebore Capital’s R&D team combines multiple aspects of machine learning technologies to monitor the CDS markets, to detect investment opportunities and to assess risks.
The Quantitative Research position will reinforce Hellebore Capital agile and challenging research team. The Quantitative Research position will be in charge of digging into statistical / machine learning ideas in a constant dialogue with portfolio managers.
WHO WE ARE LOOKING FOR. The Quantitative Research Scientist will be responsible of several research projects. He / She must be able to present innovative and challenging ideas as well as to implement them. He / She must be able to popularize his work to the whole team.
POSITION REQUIREMENTS
  • Developing and improving Hellebore Capital statistical / Machine Learning models over OTC transactions and CDS time series.
  • Updating Hellebore research standards, sharing knowledge with team members and partners.
  • Being a creative force : translating research efforts into trading ideas.
  • Contributing to Hellebore Capital's influence & monitoring technology intelligence by publishing research articles and attending top conferences.
ATTRIBUTES
  • You have a Master degree or PhD in Finance / Stochastic Calculus / Statistics / Data Science.
  • You fit and enjoy both aspects of R & D : Research (Ability to go through state-of the-art, suggest and test innovative ideas) and Development (Ability to present research contributions and implement them into Hellebore systems, to build visualization tools) .
  • You have Python programming skills.
  • You are resourceful and present a curious mindset.
  • Experiences in Hawkes Processes is a plus.
This position is also opened to students looking for a 6 month internships (end-of-studies internship, gap-year internship etc).
Send your application to: Hellebore HR