Quantitative Trading & Research - E-Trading - Executive Director

Next Frontier Capital; Greater London; On-site; GBP 150,000 - 190,000; Full time

Job summary

J.P. Morgan is seeking an Executive Director for the Quantitative Trading & Research eTrading team to lead execution research and transaction cost analysis, informing the electronic trading product roadmap for single-stock and portfolio trading.

You will partner with Electronic Client Solutions, Coverage, and Technology to translate research into scalable enhancements, defining client-focused analytics and mentoring junior researchers.

Qualifications

• Master’s degree in a STEM field or equivalent practical experience.
• Solid relevant experience in quantitative execution research, TCA, algorithmic trading, or closely related electronic trading analytics roles.
• Demonstrated expertise in TCA modeling and execution quality measurement relevant to algorithmic execution strategies.
• Strong programming skills in kdb+/q and Python, with experience working with large-scale trading and market datasets.
• Proven ability to partner effectively with Product, Trading, and Technology to move from research findings to shipped capabilities and measurable performance improvements.
• Strong analytical, quantitative, and problem-solving skills, with excellent written and verbal communication.

Responsibilities

• Product strategy & roadmap influence: define and prioritize the algorithm roadmap using data-driven insights and client needs.
• Execution measurement & TCA leadership: build and govern TCA frameworks and diagnose performance drivers.
• Research, experimentation & model development: conduct market microstructure research and run empirical studies.
• Cross-functional delivery & stakeholder management: collaborate with Technology and Algo Development to industrialize research into production-ready capabilities.

Skills

Quantitative research

TCA modeling

Algorithmic trading

Python programming

Big data analytics

Cross-functional collaboration

Strong communication

Education

Master's degree in STEM

PhD in STEM

Tools

kdb+/Q

Python

AWS

Job description

Job Summary

The Quantitative Trading & Research (QTR) eTrading team designs and delivers quantitative analytics, models, and tools that improve electronic execution outcomes for clients globally. As an Executive Director aligned closely with product team, you will lead execution research and transaction cost analysis (TCA) that directly informs the electronic trading product roadmap for both single-stock and portfolio trading. You will partner with Electronic Client Solutions, Coverage, and Technology to translate research into scalable, measurable platform enhancements and client solutions.

Job Responsibilities

Product strategy & roadmap influence

• Partner with Electronic Client Solutions to define and prioritize the algorithm roadmap using data-driven insights, client needs, competitive context, and measurable outcomes.

• Develop a clear product analytics narrative (KPIs, benchmarks, adoption/usage, performance attribution) to support senior decision-making and investment cases.

• Translate client requirements into quantitative problem statements and implementable product specifications.

Execution measurement & TCA leadership

• Build, enhance, and govern TCA frameworks (benchmarks, market impact curves, peer/venue comparisons) calibrated on historical order, execution, and market data.

• Diagnose execution performance drivers (order size/urgency, liquidity, volatility, venue choice, algo selection, time-of-day effects) and convert findings into product recommendations.

• Establish monitoring, alerting, and post-release performance measurement for algorithm changes and new features.

Research, experimentation & model development

• Conduct market microstructure research (venue structure, auctions, fee schedules, order types, dark vs. lit dynamics) and quantify the impact on execution outcomes and product design.

• Design and run empirical studies and controlled experiments (A/B tests) to evaluate routing, scheduling, and parameter changes; define success metrics and ensure robust statistical conclusions.

• Contribute to pre-trade and post-trade models that support strategy selection and parameterization, including regime-aware analysis where relevant.

Cross-functional delivery & stakeholder management

• Collaborate with Technology and Algo Development to industrialize research into production-ready capabilities, including documentation, controls, and model/feature governance.

• Create client-facing content (methodology papers, execution strategy notes, performance reviews) and support client and internal stakeholder discussions with clear, defensible analytics.

• Mentor and develop junior researchers/analysts, raising standards for research rigor, code quality, and reproducibility.

Required Qualifications, Capabilities, and Skills

• Master’s degree in a STEM field (Computer Science, Engineering, Mathematics/Statistics, Physics) or equivalent practical experience.

• Solid relevant experience in quantitative execution research, TCA, algorithmic trading, or closely related electronic trading analytics roles.

• Demonstrated expertise in TCA modeling and execution quality measurement relevant to algorithmic execution strategies.

• Strong programming skills in kdb+/q and Python, with experience working with large-scale trading and market datasets.

• Proven ability to partner effectively with Product, Trading, and Technology to move from research findings to shipped capabilities and measurable performance improvements.

• Strong analytical, quantitative, and problem-solving skills, with excellent written and verbal communication.

Preferred Qualifications, Capabilities, and Skills

• PhD in a STEM field or a strong independent research track record.

• Experience with stochastic control and/or numerical optimization techniques applied to single-stock and/or portfolio execution.

• Experience with AWS and/or modern data processing technologies used for research-to-production workflows.

• Deep knowledge of cash equities market structure and microstructure across major regions.

J.P. Morgan is a global leader in financial services, providing strategic advice and products to the world’s most prominent corporations, governments, wealthy individuals and institutional investors. Our first-class business in a first-class way approach to serving clients drives everything we do. We strive to build trusted, long-term partnerships to help our clients achieve their business objectives.

We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. We also make reasonable accommodations for applicants’ and employees’ religious practices and beliefs, as well as mental health or physical disability needs. Visit our FAQs for more information about requesting an accommodation.

J.P. Morgan’s Commercial & Investment Bank is a global leader across banking, markets, securities services and payments. Corporations, governments and institutions throughout the world entrust us with their business in more than 100 countries. The Commercial & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world. As an Executive Director aligned closely with product team, you will lead execution research and transaction cost analysis (TCA) that directly informs the electronic trading product roadmap for both single-stock and portfolio trading.