I applied through university. I interviewed at Pulse Advisory (New York, NY)
Interview
Interview with two analysts. They asked about past experience and what I want to do in the future. Most interesting part was that they asked me to bring an object that said something about who I am.
The process took 1 week. I interviewed at Pulse Advisory in Dec 2011
Interview
There were several fit questions that were not hard. I think this internship is good for building your resume if you have no relevant experience. I saw many people who applied for the position and it seems like it is competitive. However, if you take this seriously, you would have a chance to get this position.