Research and Product Development PhD Student Intern (Part-Time, 12-Month Program)

About the Role We are seeking a PhD student‑level intern (20 hrs/week, part‑time, 1–2 days onsite in New York) for a 12‑month appointment working directly with the Executive Director leading CME’s Data & Analytics buildout. This ground‑floor opportunity allows you to modernize CME’s core analytics and develop new AI‑driven, mathematically rigorous models. Responsibilities Rebuilding & Operationalizing CME’s Financial Mathematical Models Review and suggest improvements to analytical models using modern numerical and statistical methods. Document and validate models in alignment with governance and regulatory standards. Prepare models for deployment using GCP infrastructure. Document and convert legacy codebases into robust, maintainable analytics libraries. Ensure mathematical transparency, reproducibility, and version control. Collaborate with Product, Clearing, Data Science, Index, and Engineering teams. Examples of model domains include: curve construction & interpolation, volatility modelling (SABR, SVI, spline surfaces, curve fitting), option pricing & Greeks (finite‑difference / Monte‑Carlo), microstructure analytics, risk models, statistical estimation for high‑frequency data. Building New Machine Learning, Embedding, and Agent‑Based Models Shape CME’s AI capabilities: ML models on massive historical market datasets, embedding models for numerical/textual/transactional data, agent‑based systems, predictive analytics, anomaly detection, hybrid models combining finance mathematics with ML. Develop prototypes on GCP leveraging BigQuery, Vertex AI, and notebooks. Quant Research, Data Engineering, and Cross‑Functional Collaboration Conduct quantitative research across CME’s datasets. Build analytical pipelines using Python + GCP tooling. Develop visualizations and explainers for internal and client use. Support monthly and quarterly research themes. Present findings to senior leadership. Help shape best practices for model governance, testing, and production readiness. Qualifications PhD candidate in mathematics, statistics, physics, engineering, computer science, quantitative finance, econometrics, or a related field. Strong foundation in financial mathematics (stochastic calculus, derivatives modeling, numerical methods, or equivalent). Proficiency in Python and scientific computing libraries. Ability to communicate complex concepts clearly in writing. Strong analytical discipline and attention to detail. Self‑starter comfortable working across multiple business lines. Bonus: Experience with GCP (BigQuery, Vertex AI, Dataflow, C++), ML, embeddings, agent‑based systems, background in market microstructure, derivatives, or high‑frequency data, prior publications or technical reports. Schedule & Structure 20 hours/week, 1–2 days onsite, 12‑month internship. Flexible to accommodate academic commitments. Direct mentorship and collaboration with an Executive Director leading CME’s new Data & Analytics function. Core contributor to a strategic buildout. Salary & Benefits Compensation range: $23.84–$39.71 per hour, depending on experience, skills, education, location, and focus area. Benefits include comprehensive health coverage and a mental health benefit. Equal Opportunity Employer CME Group is an equal‑opportunity employer and considers all potential employees without regard to any protected characteristic. E-Verify Notice For U.S. employment, CME Group is legally required to validate a new hire’s employment eligibility by having them complete an Employment Eligibility Verification (Form I‑9) accompanied with legally acceptable proof of identity and work authorization. CME Group uses E‑Verify, an online system operated by the U.S. Department of Homeland Security in partnership with the Social Security Administration, to verify employment eligibility and validate social security numbers. Through participation in the E‑Verify program, information entered on Form I‑9 will be provided and compared to information available at both of these agencies. #J-18808-Ljbffr CME Chicago Mercantile Exchange Inc.