Quadrature new accounts shows revenues of $3bn up 80% year on year and revenue per head of $17.6m which is only second to XTX and well above HRT and Jane Street.

Small headcount though. 169 people. Revenues 3x last 2 years and 5x over last few years but headcount growth limited.

Interesting also because of DE Shaw and G-research background of founders.

https://rupakghose.substack.com/p/the-quiet-ones-the-rise-of-quadrature?utm_source=app-post-stats-page&r=1qelrn&utm_medium=ios

Never before has a company gone public with anywhere near this amount of cash.

Submitted my final reference on Friday night, and my application was approved on Saturday! 🥹✨
What a wonderful surprise! A huge thank you to CFA Institute for processing applications so efficiently, even over the weekend. Truly impressive! 👏
My fourth professional designation, unlocked! 🎉❤️
One more milestone achieved, and one more step forward in my professional journey.

.

Does anyone have the paper “Correlation vehicles” by Granger and Allen that they can share with me? Found it on scribd but I find it a nightmare to download stuff there.

I have finished one curriculum mocks and got 68 percent in it . I am planning to keep the other mock for later .

I’m planning to do the kalpan mocks , how are they compared to the curriculum mocks as in level 1 ppl say kalpan mocks are harder but in level 2 they say it easier compared to the curriculum.

Any mocks that you suggest also would be nice .

i got one for USAMO but i think it got stolen. does anyone else have one that they don’t want i could buy from them?

Tencent Cloud contacted me after finding one of my quant-related projects on GitHub. They’re offering free trial credits to benchmark workloads on their low-latency infrastructure.

They specifically mentioned:

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• SA5 parallel execution / batch backtesting
• SA9 / SA9e low-latency workloads
• GPU instances factor research / model training
• Infrastructure near major global exchanges
• A new SA9 instance in Hong Kong

I work mostly on the systems side C++, DPDK, networking, order books, and latency benchmarking so I'm curious about the practical use of something like this.

For example, would a cloud instance like this be useful for:

• Market-data replay and backtesting
• Benchmarking a C++ order book
• Testing DPDK/networking workloads
• Comparing p50/p95/p99/p99.9 latency across different CPUs
• Experimenting with CPU pinning, NUMA, hugepages, etc.

I understand that cloud VM latency isn't representative of colocated HFT infrastructure, but I'm wondering whether the hardware and networking environment can still make for a useful engineering benchmark.

Has anyone here actually used Tencent Cloud (or similar cloud infrastructure) for low-latency/quant workloads? What would be a worthwhile benchmark to run with the credits?

Hi everyone,

I'm sitting for CFA Level II in November 2026 and have recently completed both official CFA Institute mocks.

For those who have already taken the exam:

1. How did the difficulty of the actual exam compare with the official CFAI mocks?
2. Were your actual results broadly consistent with your mock performance?
3. Has anyone scored consistently above 80% on the official mocks and still failed?

I'm particularly interested in hearing from recent candidates, as I'm trying to assess how much confidence I should place in these results heading into the final month of preparation.

Thanks in advance!

Hi everyone! I'm preparing for CFA Level I in May 2027 and would appreciate some honest advice from candidates who've sat the exam or progressed to Level II/III.

I'm using Kaplan Schweser and the CFA Institute Learning Ecosystem (LES). I've been attempting practice questions before thoroughly studying the chapters to understand what's actually tested.

I've noticed that even in calculation-heavy subjects like Quantitative Methods, FSA and Fixed Income, the official LES questions and mock questions seem relatively short and straightforward compared with the depth of the study material.

I'd appreciate your thoughts on 4 things:

1.Actual exam difficulty: Are the real exam questions similar to LES questions, or significantly harder?

2.Calculations: Should I expect more complicated, multi-step calculations on exam day?

3.Official mocks: How closely did the CFA Institute mock exams reflect your actual exam experience?

4.Your experience: Did you feel underprepare

d on exam day despite performing well on practice questions?

I'd particularly appreciate honest feedback from people who've actually sat Level I. I want to prepare efficiently without underestimating the exam. Thanks

Keep in mind the first mock I did twice (67% first attempt). I feel like I have a decent understanding of the core concepts but the niche questions and topics still get me (specific model references or random theory questions)

Any advice going into the last stretch?

I’m 30 middle eastern female, currently based in the GCC, and have around 8 years of experience in private equity at a sovereign-backed investment company. My work has mainly involved M&A, joint ventures, deal execution and portfolio management. I have a CFA qualification and the right to work in the UK.

I left my job 2 months ago as we decided as a family to relocate to London. I have a young child, so I’m planning to return to work in 2028- 2029 max. In the meantime, I’m considering doing an MBA or EMBA at a top business school in the UK.

Long term, I’d like to move into a top private equity firm in London, such as CVC, Bain Capital, Blackstone or KKR.

I’m struggling to decide between a full-time MBA and an EMBA. From what I’ve read, MBA students tend to have around 5–7 years of experience, while EMBA students are usually more senior, often with 12–15 years. With 8 years of experience, I’m not sure where I fit.

Given my background and career goals, would a full-time MBA or EMBA make more sense? I am really lost..

Would really appreciate hearing from you guys

Thanks

Hey everyone,

I'm taking Level 1 in early November and I've been in the revision phase for almost 30 days now, but honestly I feel like I'm not retaining anything. I've been revising from IFT notes, but the material just isn't sticking. I read a topic, and a few days later it's like I never studied it.

I'm now thinking of switching to Kaplan's Secret Sauce since it's more condensed, but I'm worried that changing material this close to the exam might be a mistake.

Learning and retaining is the hardest part for me, so I'd really appreciate any advice:

Has anyone switched to Secret Sauce during revision? Did it help?

Is it better to stick with what I already know and change how I'm revising instead?

What actually worked for you to make concepts stick (Q-banks, mocks, flashcards, formula sheets, etc.)?

Any tips would really help.

Thanks in advance

How likely is it to get this kind of question in the CFA level 1 exam? I don't mean the vignette style but the calculation itself. It seems quite difficult for level 1.

I've done with Intercorp and Employee Conp in 2 weeks, Qbank was smooth like butter.

Can anyone suggest me classes for CFA level 2 , give me the online suggestion and also tell how was your experience on that if you cleared CFA Level2 examination?

Can anyone explain why the Terminal Value at 10 is discounted by 9 times and not 10 times?

My answer is coming out to be 6.07(a)

I have never seen this formula till now where they’re doing “t-1” in power

I feel i totally burned out my test on November 14 i have studied alot and feel like i dont have anymore energy to go through sessions B mock exam mistakes

I am going through the Fixed Income LM 4 Credit Analysis Model QBank for the second time, and it took me 2.5 hours to get through the first 23 questions. (Daniella Ibbara)

Will there be similar full-fledged questions even in the exam? These single questions can eat up 7-10 minutes of your time, especially if it's a floater bond.

So, I took the CFA exam in August, and unfortunately, I didn't clear it. It's been just over a month, but the failure still haunts me. I've never experienced a breakup, so this feels like my first real heartbreak. Sometimes, I skip breakfast, and sometimes, I hold myself back because the memories of what I went through still weigh heavily on me. No matter how much I try to move on, the pain of this failure still lingers.