10 IMC Trading Quantitative Researcher (New Grad) Interview Questions (2026)
IMC Trading's new-grad quant researcher loop in 2026 emphasizes probability, statistics, and a trading-game simulation that tests decision-making under uncertainty. The Amsterdam-headquartered market-maker runs separate loops for the US (Chicago), EU (Amsterdam), and APAC (Sydney, Hong Kong) offices, with some role specialization by region.
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Loop overview
Recruiter outreach → online probability/math test (60 min) → first-round phone with a trader or researcher (probability + mental math, 45 min) → onsite of three to four rounds: probability deep-dive, mental math sprint, trading simulation game, fit conversation. Timeline 4-6 weeks. IMC emphasizes culture fit — collaborative and low-ego candidates are favored.
Behavioral (3)
You are market-making on a binary outcome (Yes/No). You have no prior information. How do you set initial bid and ask?
Frequently askedOutline
Start with a wide spread centered on 50. Maybe bid 35, ask 65. Wider than you might think because you have no info — any informed trader can pick you off. As trades come in, update: if buyers dominate, raise both bid and ask. State the framework: spread reflects uncertainty plus a profit margin.
Tell me about a time you worked on a team where you had to compromise.
Frequently askedOutline
STAR. Pick a real disagreement where you genuinely changed your position based on new information or teammate input. Show flexibility, not stubbornness. IMC values collaborative teams — they will fail candidates who come across as needing to win every argument.
Why IMC Trading rather than another market-maker?
Frequently askedOutline
Specific reasons: profit-sharing comp structure, collaborative culture (vs more individualistic competitors), global presence with rotation opportunities (Amsterdam, Chicago, Sydney, Hong Kong), strong derivatives focus. Reference any specific IMC initiative or content you have seen. Avoid the 'high pay' lead.
Coding (LeetCode patterns) (2)
Implement a function that takes a list of integers and returns whether any three of them sum to zero.
Frequently askedOutline
Sort, then for each i, use two pointers (l = i+1, r = n-1) to find a pair summing to -arr[i]. O(n^2) time, O(1) extra space (excluding sort). Walk through with example. Edge cases: duplicates (skip them to avoid duplicate triples), empty list, all zeros.
Find the longest common subsequence of two strings.
Occasionally askedOutline
Standard 2D DP. dp[i][j] = LCS of s1[:i] and s2[:j]. If s1[i-1] == s2[j-1]: dp[i][j] = dp[i-1][j-1] + 1. Else: dp[i][j] = max(dp[i-1][j], dp[i][j-1]). O(m·n) time and space. Discuss space optimization to two rows. Walk through with small example.
Technical (5)
I have a coin with unknown bias. I flip it 3 times and get 2 heads, 1 tail. What is the maximum likelihood estimate of p?
Frequently askedOutline
Likelihood = p^2 · (1-p). Maximize: derivative = 2p(1-p) - p^2 = p(2 - 3p) = 0. Solutions p=0 or p=2/3. Since p=0 gives zero likelihood, MLE = 2/3. State the derivative cleanly and the optimization. Mention Bayesian alternative with uniform prior gives posterior Beta(3,2) with mean 3/5.
What is the probability that a randomly chosen permutation of {1,2,3,4,5} has 1 in the first position OR 2 in the second position?
Frequently askedOutline
Inclusion-exclusion. P(A) = P(1 in pos 1) = 1/5. P(B) = P(2 in pos 2) = 1/5. P(A and B) = (3!)/5! = 1/20. P(A or B) = 1/5 + 1/5 - 1/20 = 7/20. State the inclusion-exclusion principle and apply it.
Compute 13^2 in your head.
Frequently askedOutline
169. Multiple paths: (1) (13)(13) = (10+3)(10+3) = 100 + 60 + 9 = 169. (2) Recognize that 13^2 = 169 from rote memorization. Optiver/IMC expect you to memorize squares of 1-25 cold. Practice these.
You are at the corner of a 4x4 grid. You move only right or up, one step at a time. How many distinct paths to the opposite corner?
Frequently askedOutline
Combinatorics. You take 4 right + 4 up = 8 total moves. Number of paths = C(8,4) = 70. State the binomial coefficient interpretation: choose which 4 of the 8 moves are right (the rest are up). Generalize: n x m grid, paths = C(n+m, n).
Compute the expected value of the maximum of two independent uniform random variables on [0,1].
Occasionally askedOutline
P(max ≤ t) = t^2 for t in [0,1]. PDF = 2t. E[max] = ∫_0^1 t·2t dt = 2/3. General formula: E[max of n iid uniforms on [0,1]] = n/(n+1). State the derivation cleanly. Discuss intuition: max biases toward 1.
IMC Trading interview tips
- Memorize squares of 1-25 and cubes of 1-12 cold. IMC's mental math expects sub-3-second response on these.
- Drill probability puzzles on conditional probability, Bayes, and order statistics. These are the most common round formats.
- Trading game: lead with framework before specific numbers. Interviewers grade on decision quality, not P&L.
- Behavioral round at IMC is heavier on collaboration than other firms. Show you can work in tight teams.
- Reference IMC's profit-sharing compensation in fit rounds. Shows you've researched the firm's unique comp structure.
Frequently asked questions
How long is IMC Trading's quant interview process in 2026?
Most candidates report 4-6 weeks from initial contact to offer. Onsite-to-decision is often within 1-2 weeks.
What is IMC's main trading strategy?
Market-making in equities, options, and futures. Strong derivatives focus. Trades primarily on European, US, and APAC exchanges.
How does IMC's compensation work?
Base + profit-sharing bonus. The firm has a flat structure where bonuses are tied to team performance. New-grad researchers benefit from the upside but face variance.
Does IMC sponsor visas?
Yes. Amsterdam HQ supports EU; Chicago supports US H1-B. APAC offices (Sydney, Hong Kong) offer alternative paths.
Can I reapply to IMC after rejection?
Yes, after a 12-month cooldown. The firm keeps interview notes.
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