Msg to Recruiters

Source: Notion | Last edited: 2023-12-14 | ID: 6ecb6f26-e3a...

Eon Labs Ltd. is a Vancouver-based crypto futures prop firm with 20 mil AUM currently seeking Algo-Trading Strategy Researchers/Quant Traders.

If you are interested in assisting us with recruitment, please share your company’s confidentiality & non-circumvention agreement*,* as well as recruitment service contract agreement with us. You can email it to careers+recruiter@eonlabs.com. We prefer that you use e-sign platforms such as DocuSign for this purpose. Please note that we do not work with retainer fees but contingency fee structures only.

🔏 Signing information for employment with annual salary (i.e. Base & Bonus Pay):

  Company Name: Eon Labs Ltd.

City of Vancouver Business Licence: #23-211102 Registered Address: 422 Richards Street, Unit 170, Vancouver British Columbia V6B 2Z4 Canada Signer: Terry Li Title of signer: Director of Operations

🔏 Signing information for employment without annual salary (i.e. Profit Sharing):

  AXON CAPITAL MANAGEMENT - FZCO

Registration Number: DSO-FZCO-32700 (to verify, visit: https://cutt.ly/4wzuQiim) Trade License Number: 34718 (to verify, visit: https://cutt.ly/uwzuQyQj) Legal Status: Freezone Company Issuing Authority: Dubai Integrated Economic Zones Authority (DIEZA) Premises No: DSO-IFZA Building Name: IFZA Properties Area Name: Dubai Silicon Oasis Signer: Terry Li Title of signer: Director of Operations

The twelve (12) recruitment agencies that we current have signed agreements with are:

HW Anderson
Jobot
Selby Jennings (Phaidon)
Recruitery
Cerebro Search
Vaco
J. K. Barnes
Alexander Chapman
Skill Tree Staffing
ScaleUpPeople/Medical Engineers
Y-Axis
Commit.dev
Venture Search (Valdere Group) (2023-12-13) All candidates who make an appointment with me on Calendly are required to indicate which recruitment agency referred them. If we have a signed agreement but your agency’s name is not on the list above or on Calendly, please remind me to add it.

📌 Strictly speaking, our company work with contingency paying method only. However, certain recruitment agencies may propose hybrid forms of contingency fee arrangements, involving a pre-paid yet refundable minimal guarantee for contingency fees as a means of securing our organization’s commitment to collaborate with them. In addition, some agencies may stipulate retention bonuses that are contingent on the actual trading performance of candidates over several years, thereby ensuring that their earning potential is not significantly constrained by the scale of first-year base pay. Please be advised that we are amenable to exploring such hybrid fee structures and are committed to remunerating recruiters in the best possible manner.

The job opportunity is titled ATSR. There are three (3) openings available for remote work with a flexible schedule. Your candidates may choose to work from anywhere in the world.

We offer Base & Bonus Pay. The base pay comes with a unit rate ranging from $25 to$ 190 CAD per hour, depending on the candidate’s trading performance forecast. Note that this unit rate can also be converted to a monthly or annual base salary if the candidates choose to work fixed hours.

There is a six months mandatory KHA Probationary Period.

We do not require the personal & career information of your candidates to initiate an evaluation of their suitability. Instead, please start off by gathering their Fast-Track Assessment (FTA) results for us. This assessment makes the screening process fast and easy. It consists of only two (2) simple risk and performance parameters (MRTF & ITH) that can be answered in as little as 30 seconds. The candidate’s set of values will help Eon Labs understand their trading style and determine priority for further engagement.

If this is still not clear or concise enough, let me provide three simple mandates to move forward with:

We are only interested in CME commodities and crypto futures quant traders or ATSR who have a turnkey system ready to deploy and trade on their first day of work.
They must have over six (6) months of recent live trading historical performance to prove their qualifications.
The investment time horizon, ITH, must not exceed 28 days, meaning there can be no losing months. As recruiters, you may have an easier time screening candidates with these mandates. Please let me know if you have any questions or other suggestions that could make things even easier for you.

If candidates are still confused about how to determine theirITH, please advise them that it is understandable, as it may be a new concept for them. They should not feel pressured to calculate the exact value, as long as they have a clear understanding of their own historical or estimated projected performance.

They can make a rough estimate of their ITH without worrying about exact values.
However, if they prefer to use a more traditional method of quantification, you may ask them to provide their minimum risk-return ratio in any historical and projected 28-day (or 4 week) periods. These minimal requirements should be easy for every practicing quant trader to understand. They can present the rest of their performance metrics as they see fit, but they should also provide their assumptions of trading fees or VIP levels needed to achieve the desired performance. We will ask follow-up questions based on their presentation afterward to minimize hassle and save time for them.

**Base Pay vs Return. **The base salary offered must not exceed 30% of the anticipated Trailing Minimum Acceptable Excess Gain (TMAEG), given an ibAUM of 5 million BUSD. For instance, if a candidate requests a 100k base salary, the minimum TMAEG corresponds to 100k / (5 million * 30%), meaning the minimum annualized return at any given investment time horizon (ITH) must exceed 6.67%. However, given our company’s strong existing performance, we will disregard any systems or strategies that offer a monthly return of 10% or less.

If we use the minimum expected 10% monthly as TMAEG, we can offer up to 5 million * 10% * 30% = 150k per month as base pay, which comes to a total of 1.8 million annual.

Exceptions may be made for candidates whose systems or strategies achieve monthly returns under 10%, but only if they possess an extremely short ITH (i.e., $H \leq 7\,days$ ) and employ innovative techniques to achieve their results. The novelty of such methods is subjective and will be evaluated on a case-by-case basis.

Another factor influencing base salary is the demonstrated robustness of the candidate’s system, which depends on historical records, theoretical soundness, and the ITH. The most reliable form of historical records is live trading data; the longer, the better. Simulated historical records are also acceptable, but must account for at least 0.045% of transaction costs. Theoretical soundness is subjective and will be evaluated on a case-by-case basis. Short ITH is crucial since our goal is to start with a small AUM and scale up rapidly.

We acknowledge that short ITH often entails high-frequency trading systems, which are less capable of handling large AUM, especially in the crypto market. Thus, we continuously seek systems that balance high AUM capacity, short ITH, and high TMAEG. Our in-house machine learning system sets a high benchmark, making it challenging to offer competitive base pay to candidates with average industry performance or those who use non-innovative techniques, even if their performance is outstanding. Therefore, we may have a better chance by looking for unique talents and systems that other firms might overlook due to the additional time required to understand and structure suitable compensation packages.

🔥 Some candidates may have multiple potential employers showing interest to hire them, leaving them little time to undergo a customized screening process. That’s okay. Kindly ask them to share as much performance related quantitative information with us as possible. Based on that information, we will ask them specific follow-up questions.

2023-08-09 Eon Labs’ Stance on Separately Managed Accounts (SMAs) and Intellectual Property Rights

At Eon Labs, our primary objective is to hire researchers to integrate seamlessly as standard employees within our company’s structure. Yet, we understand that the nature of our collaboration might raise concerns. One of the potential hurdles is the immediate sharing of intellectual properties (IP) by full-time employees with the company, which may hinder the building of trust for some prospective talents.

Recognizing this, some researchers have proposed a partnership-based approach as an initial step, allowing them to work with us without immediately surrendering their intellectual properties. This offers a balanced ground for both parties to engage, assess, and build mutual trust.

In line with this, it’s crucial to understand our position on Separately Managed Accounts (SMAs). While we are open to working with individual researchers or teams skilled in Discretionary whatPortfolio Management (DPM) and related areas, our policy strictly mandates that the rights to control the inflow and outflow of SMA funds remain exclusively with Eon Labs. While we provide SMAs to researchers and specialists as a part of this potential partnership model, the control over funding rights is non-negotiable and solely under Eon Labs’ purview.

This stipulation, coupled with our approach to intellectual property, is integral to our operations and risk management strategies. We kindly request all recruiters to bear these nuances in mind when proposing potential researchers or teams for collaboration. Our aim is to ensure that both parties have clarity from the beginning, to foster efficient and fruitful partnerships.

We appreciate your understanding and look forward to potential collaborations that align with our ethos and requirements.

2023-07-27 P.S. The Three-Party Agreement (TPA, master template) represents our continuing effort to negotiate with candidates who are reluctant to share their intellectual property (IP), but wish to initiate a partnership with a Separately Managed Account (SMA).

I’m available for text or VoIP voice calls via instant messengers: WhatsApp (+1-604-300-8878) or Telegram (https://t.me/EonLabsOperations)) from 9am to 10pm (pacific time). And hey, don’t be shy to hit me up for a quick chat! Just a heads-up, my mountainous remote location doesn’t have the best LTE reception, so if we could use WhatsApp or Telegram for VoIP calls, that would be awesome. Thanks!

On the other hand, if you feel that a virtual meeting would be more effective than chatting through instant messaging, go ahead and schedule one using this link: https://calendly.com/eonlabs/do.

Regards,

**Terry Li **(he/him/his)

Director of Operations, Eon Labs Ltd.

📍 Recruitment Board 🔑 ** Guest Researcher Area (accessible by invitation only) **🔒

- [LOB Data on S3 🔏](/engineering/integrations/lob-data-on-s3/)
- [Algo-Trading Books 🔒](/research/books/algo-trading-books/)

🔆 External Links

- [**Link-in-Bio for EonLabs**](https://bit.ly/m/eonlabs)
- [**Indeed Company Page**](https://ca.indeed.com/cmp/Eonlabs)
- [**EonLabs.com Official Site**](https://www.eonlabs.com/)

🍁 EonLabs acknowledges that the land on which we live and work is the unceded traditional territories of the xʷməθkʷəy̓əm (Musqueam Indian Band), Sḵwx̱wú7mesh (Squamish Nation), and səlilwətaɬ (Tsleil-Waututh Nation) and we are grateful for the opportunity to do so.