Tower Research Capital Quant / Statistics Round Interview

The Tower Research Capital Quant / Statistics Round interview is stage 5 of 6 in the Tower Research Capital interview process, after the C++ & Algorithms. Format: 45-60 min - video. For research/trading: statistics, regression (R-squared properties, duplicated-data effects), and stochastic processes (Brownian motion, Markov chains).

What the Quant / Statistics Round tests

Connect the math to trading.

QuantVault maps 44 practice problems to this round. By topic, the biggest groups are regression (9), statistics (9), expectation (8), stochastic processes (6); by difficulty, 5 easy, 22 medium and 17 hard. 40 of them were reported by candidates who interviewed at Tower Research Capital, most recently in Jun 2026.

How to prepare for the Quant / Statistics Round

• R-squared properties (can it be negative? no-intercept case) come up -- know them.
• Brownian motion and Markov chains -- properties, hitting probabilities, stationary distributions.
• Tie statistics to signals -- explain how a result would inform a trade.

Further reading: How quant superdays work · Behavioral questions at trading firms · Market-making game interview guide.

Question types in this round

The 5 largest question types in the Tower Research Capital Quant / Statistics Round practice set; across them the most common sub-topics are variance, expected value, conditional probability, random walk, normal distribution, first-passage and stopping times. The questions themselves, with worked solutions, are in the round practice.

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