At a Glance
- Tasks: Research and implement market-impact models using real-world data and quantitative analysis.
- Company: Global alternative investment firm focused on innovation and collaboration.
- Benefits: Competitive salary, professional development, and a supportive work environment.
- Other info: Dynamic team with opportunities for growth and collaboration.
- Why this job: Make a real impact in trading strategies while working with cutting-edge quantitative research.
- Qualifications: Master’s or PhD in relevant fields and experience in quantitative research.
The predicted salary is between 63000 - 77000 £ per year.
Millennium is a global, diversified alternative investment firm, founded in 1989. Defined by evolution, innovation and focus, Millennium’s mission is to deliver results for our investors.
Our people are empowered with both independence and support: the autonomy to pursue ideas with conviction and the backing of a global network committed to collaboration, disciplined risk management and continuous learning. With opportunities to deepen expertise and accelerate development, talent at Millennium is equipped to adapt, evolve and build lasting impact over time.
Meet the Team
Central Liquidity Strategies (CLS), within Execution Services, manages portfolios and products designed to optimize Millennium’s trading and execution approach. The team provides internal liquidity solutions to Portfolio Managers on both a risk and agency basis, bringing together quantitative research, trading, and engineering to support these capabilities.
What You'll Do
- Research, improve, and implement market-impact models across equities and other asset classes, drawing on current academic research and practical market experience.
- Estimate market impact using real-world data, addressing data biases, endogeneity, causal inference, and model robustness.
- Develop and enhance research, model-fitting, and analytics frameworks to support experimentation and model calibration.
- Partner with trading and engineering stakeholders to integrate models into the portfolio construction process.
- Communicate research findings, assumptions, and limitations clearly, translating business goals into quantitative research deliverables.
What You Bring
- A master’s or PhD in Physics, Mathematics, Operations Research, Statistics, Finance, Economics, Econometrics, Financial Engineering, Econophysics, or a related discipline.
- Experience in quantitative research or quantitative trading, with a significant focus on market-impact research or market microstructure.
- Significant experience analyzing real-world datasets and estimating market impact in practical settings.
- Strong knowledge of relevant academic research and the challenges of data bias, endogeneity, causal inference, and robustness.
- Excellent analytical and quantitative skills.
- Proficiency in Python and kdb+/q.
- Strong communication and collaboration skills, with the ability to explain research outputs and limitations and align research with business objectives.
Quantitative Researcher – Market Impact Modeling employer: Millennium Management
Millennium is an exceptional employer that fosters a culture of innovation and collaboration, empowering employees to take ownership of their ideas while providing robust support through a global network. With a strong focus on professional development and continuous learning, the company offers unique opportunities for growth within the dynamic field of international operations, making it an ideal place for those seeking meaningful and impactful careers in the financial markets.
