The Brevan Howard Market-Making Game + Portfolio Manager Interviews is stage 3 of 3 in the Brevan Howard interview process, after the HR / Motivation Interview. Format: Live game plus several short PM interviews (per public prep guides). Public prep guides describe a market-making game where you quote two-way prices on uncertain quantities and react to trades, followed by several short interviews with portfolio managers on macro views, your projects and rates or FX knowledge, with a trade idea you can defend.
Preparing for this round? Open the Brevan Howard Market-Making Game + Portfolio Manager Interviews in the interview funnel. A free account saves your progress.
What the Market-Making Game + Portfolio Manager Interviews tests
Rehearse with Make a Market, the card market table and the market-making game guide.
- A market-making game is reported for trading candidates, but no source describes its format in detail.
- Expect interviews with portfolio managers and team members.
How to prepare for the Market-Making Game + Portfolio Manager Interviews
- Quote around expected value and adjust. Start wide when unsure, tighten as information arrives, and keep track of your position.
- Bring one trade idea you can defend. Thesis, entry, what would prove you wrong and how you would size it.
Final-week checklist
- 30 work-style pairs: consistent, honest answers
- 15 numerical questions on hover-only charts and tables
- 2 written scenarios: structured next steps
- Finish within 3 days; you can pause and resume
- Later rounds (reported): market-making game and PM interviews with a trade idea
Further reading: Market-making game interview guide · How quant superdays work · Behavioral questions at trading firms.
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Frequently asked questions
What is the Brevan Howard Market-Making Game + Portfolio Manager Interviews?
It is stage 3 of 3 in the Brevan Howard interview process, after the HR / Motivation Interview. Format: Live game plus several short PM interviews (per public prep guides). Public prep guides describe a market-making game where you quote two-way prices on uncertain quantities and react to trades, followed by several short interviews with portfolio managers on macro views, your projects and rates or FX knowledge, with a trade idea you can defend.
How should I prepare for the Brevan Howard Market-Making Game + Portfolio Manager Interviews?
Quote around expected value and adjust. Start wide when unsure, tighten as information arrives, and keep track of your position. Bring one trade idea you can defend. Thesis, entry, what would prove you wrong and how you would size it.
What comes after the Market-Making Game + Portfolio Manager Interviews?
Nothing: it is the last of the 3 stages QuantVault maps for Brevan Howard.
Practice the Brevan Howard Market-Making Game + Portfolio Manager Interviews round
Open the round in the Brevan Howard funnel: the round notes, prep, and every other stage of the process.