Chetan Maheshwari
Quantitative Trader
Summary
Dedicated Quant professional with an experienced background in high-frequency trading and option market making. Recognized for collaborative team leadership and a commitment to continuous learning in strategy development and trading desk operations.
Overview
6
6
years of professional experience
Work History
Sr. Quantitative Strategist
Pace Stock Broking Services Pvt Ltd
09.2022 - Current
- Directional Option Quoter : Conceptualized and executed a sophisticated trade-based directional option quoter, achieving a Sharpe ratio of 2.8 and 65% returns. This strategy was adept at both market-making and market-taking, tailored to adapt dynamically to stock trends.
- Arbitrage-Based Butterfly Spread Quoter : Developed an arbitrage-based butterfly spread quoter, specifically designed for Index options. This strategy enhanced turnover and consistently yielded low-risk spreads, resulting in a Sharpe ratio of 5.2 and 32% returns.
- Enhanced Order Management System and simulation setups from an alpha development perspective.
- Developed in-house Black Scholes module adaptable to a variety of underlying inputs, both standard and hybrid models.
- Developed 3 IV curve solvers: Spline, SVI, and Adaptive Exponential Smoothening (Trigg and Leach).
Quantitative Associate
IRageCapital Pvt Ltd
05.2018 - 08.2022
- Actively traded in diverse derivatives portfolios across stock, index, commodity, and currency segments on NSE and MCX, as a pivotal member of the Option Market Making team
- Spearheaded the setup and daily trading management of the OMM desk for B3 (Brazil), including the development of automated systems for PnL, position, and SLB management, successfully scaling the book size to 3 million USD.
- Implemented dynamic interest correction in the implied volatility solver for B3.
- Led a project on the identification of volatility frown and position retreat in market making.
- Worked on spread automation, including future spread inclusion in options to account for sudden illiquidity in underlying.
- Managed and restructured the hiring process; mentored over 8 interns.
Education
B.Tech - CSE
04.2001 -
- CGPA - 7.3
Class 12th - CBSE
04.2001 -
- Result: 93.4%
Class 10th - CBSE
04.2001 -
- CGPA - 10.0
Skills
Languages - C, Python
Expertise in high-frequency trading, quantitative analysis, and strategy development
Market microstructure
Accomplishments
- AIR 635, IIT Joint Entrance Examination Advanced (2014)
- Certificate of Appreciation, Cultural Collaborations IIT Roorkee (2017)
- Certificate of Merit, CBSE (2012); Certificate of Appreciation, Uttarakhand Sanskrit Academy (2012)
- Certificate of Brilliance, All India Talent Search Examination (2010)
Timeline
Sr. Quantitative Strategist - Pace Stock Broking Services Pvt Ltd
09.2022 - Current
Quantitative Associate - IRageCapital Pvt Ltd
05.2018 - 08.2022
IIT Roorkee - B.Tech, CSE
04.2001 -
Aklank Public School - Class 12th, CBSE
04.2001 -
G.D.Birla Memorial School - Class 10th, CBSE
04.2001 -