Apex Capital is a New York based equity trading group specializing in event-driven trading and sector-specific portfolio management. The firm’s success is attributed to key strategic advantages:
- Our focus on attracting, challenging, and developing top talent
- Our unique entrepreneurial culture that promotes open communication, transparency, and accountability
- Our disciplined approach to risk management and capital preservation
The firm engages in a variety of trading strategies, including:
- Long-short sector portfolio management
- Event driven investing
- Quantitative trading
- Merger arbitrage
Students interested in financial markets are usually most familiar with trading roles at bulge bracket banks. These teach you how to manage trade flow. Our buy-side training program will teach you how to take and manage risk rather than recycle it.
If you want to be managing capital rather than trade flows, roles with a firm like Apex Capital are the most direct way of getting there.
We are currently seeking graduating seniors and recent graduates to join the desk as full time Junior Equity Traders in our Manhattan Financial District office. This position is salaried and requires no capital contribution.
Portfolio managers usually each specialize in a particular sector. They invest with a longer term horizon - typically anywhere from several weeks to months.
Event-driven traders focus on scenario analysis and strategic positioning around catalysts. They also trade around incremental news flows as they develop.
New hires’ perceived skill sets are used to determine whether they are assigned to work with portfolio manager or a trader, but there is flexibility to explore several different trading styles during your time with Apex.
Each new hire is paired with a portfolio manager or trader for the duration of the training program. The trainee is a direct assistant to their mentor, but you typically progress to having your own book within six months to a year.
There are three stages to Apex Capital’s training program:
Stage 1: Building familiarity
If paired with a portfolio manager, you learn about the companies in their portfolio and industry. If paired with a trader, you work on specific event driven projects and learn how to source ideas across sectors.
Responsibilities include: research projects, reading company research to familiarize yourself with the industry, trade execution in both cash equities and derivatives, learning what’s “in play” in the morning, and updating manager on news, research reports (+ upgrades/downgrades), movers overnight/morning in relevant stocks.
Stage 2: Idea generation
You are encouraged to present ideas in the 9am morning meeting, to read about upcoming data releases, corporate actions, etc. and to prepare scenarios for trading.
You also learn how to search for ideas with appealing risk-reward profiles going into events. At this stage trainees start tracking ideas on paper and begin exploring ways to judge conviction, size their positions, etc.
Stage 3: Risk taking
You are taught how to approach position sizing and risk management.
The research and ideas developed during training are put to work with an allocation of capital; this capital is increased over time. Your mentor continues to actively provide guidance at this stage.
Following completion of the training program, trainees are given complete discretion over their accounts to trade intraday and overnight within their risk parameters.
"In the short time I have been with Apex, I’ve gotten a chance to explore and about a lot of different areas of trading. For example, I gained exposure to the healthcare sector - a space I knew little about before, but have been able to make some great trades in recently. There are very few places where I would have had the opportunity to learn so much and start trading on it so quickly."
- Matthew, Carnegie Mellon '15
"What really drew me to Apex was access to ongoing mentorship through the training program. The program is unique in that it encourages and helps you to pursue ideas you personally find interesting – I’m not just doing the same work the senior traders do, but am actively looking for new ways to create value. Being able to implement my own ideas with a portfolio is an opportunity afforded to few people my age."
- Max, Tufts '16
Q&A with Apex Capital
Candidates must be able to demonstrate deep passion for equity markets, strong work ethic, analytical skills, and entrepreneurial spirit. To that end, during the application process you will be asked to share one or more samples of your work – such as:
- PA records - We accept both overall performance figures as well as order level data.
- Competition records - If you have taken part in an Upgrade Capital competition, we would be happy to assess your performance.
- Trade idea - Write-ups or presentation decks you previously prepared; they do not have to still be actionable.
Which work you share is entirely up to you. If you have no appropriate work samples, we would be happy to give you a short assignment.
If your work is found to reflect the qualities we seek, you will be invited for an interview. You can expect the final decision concerning your candidacy to be made within 2-4 weeks after your first interview.
How to apply
To apply for a role with Apex Capital, please email us your resume with the subject "Applying to Apex Capital".
We are happy to also answer any questions you may have about the firm, its training program, or the Junior Trader role.