The SIG Market-Making Game + EV Games interview is stage 5 of 7 in the SIG interview process, after the Take-Home Data Exercise + On-Site Presentation. Format: Interactive · with a trader. SIG's games-as-interview round: quote a bid/ask spread on an uncertain value, adjusting as a trader trades against you; explain every choice.
Preparing for this round? Practice the 4 questions mapped to the SIG Market-Making Game + EV Games, with worked solutions. A free account saves your progress.
What the Market-Making Game + EV Games tests
Poker-style EV games such as the AKQ betting game probe EV and risk. Some older candidate reports also mention Acey-Deucy; other reports describe live poker as part of SIG's training culture rather than the interview.
QuantVault maps 4 practice problems to this round. By topic, the biggest groups are expectation (2), game theory (1), market microstructure (1); by difficulty, 1 easy, 2 medium and 1 hard.
Who takes this round: Trader / Quant Researcher candidates. See the full SIG process and who takes each round.
How to prepare for the Market-Making Game + EV Games
- Quote a credible, defensible spread and adjust. Start wider when you're uncertain, tighten as info arrives, and always be able to justify the level.
- AKQ / poker = pure EV + bluffing math. Know the mixed strategy; explain when to bet/fold in expectation terms.
- Manage risk, not just edge. They reward discipline and clear reasoning over aggressive P&L.
Further reading: Market-making game interview guide · Behavioral questions at trading firms · How quant superdays work.
Question types in this round
The 3 largest question types in the SIG Market-Making Game + EV Games practice set; across them the most common sub-topics are expected value. The questions themselves, with worked solutions, are in the round practice.
Expectation2 in this round
Game Theory1 in this round
Market Microstructure1 in this round
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Frequently asked questions
What is the SIG Market-Making Game + EV Games interview?
It is stage 5 of 7 in the SIG interview process, after the Take-Home Data Exercise + On-Site Presentation. Format: Interactive · with a trader. SIG's games-as-interview round: quote a bid/ask spread on an uncertain value, adjusting as a trader trades against you; explain every choice. Poker-style EV games such as the AKQ betting game probe EV and risk.
What questions come up in the SIG Market-Making Game + EV Games interview?
The practice set QuantVault maps to this round centers on expectation, game theory, market microstructure.
How should I prepare for the SIG Market-Making Game + EV Games interview?
Quote a credible, defensible spread and adjust. Start wider when you're uncertain, tighten as info arrives, and always be able to justify the level. AKQ / poker = pure EV + bluffing math. Know the mixed strategy; explain when to bet/fold in expectation terms.
What comes after the Market-Making Game + EV Games?
The Onsite / Superday (stage 6 of 7). Format: Onsite · multiple 1-hr rounds + dinner.
Practice the SIG Market-Making Game + EV Games round
Work the 4 mapped practice problems with progress tracking, then move to the next stage of the SIG funnel.