Quantitative Developer - Trading Algorithms

Millennium Management; New York (NY); On-site; USD 160,000 - 250,000; Full time

Job summary

An established industry player is seeking a Senior Quantitative Developer to lead the development of innovative trading algorithms. This role focuses on building a cutting-edge internal algorithmic trading platform, requiring deep expertise in market microstructure and execution strategies. The ideal candidate will have over 10 years of experience in trading and finance, with strong programming skills in C++ or Java. You will collaborate with quantitative analysts to optimize trading outcomes and develop robust monitoring tools. This is an exciting opportunity to make a significant impact in a dynamic environment that values technical excellence and innovative thinking.

Qualifications

• 10+ years of experience in trading and finance industry.
• Expertise in market microstructure and algorithm development.

Responsibilities

• Develop custom trading algorithms and evaluate their performance.
• Collaborate with analysts to enhance market models.

Skills

Algorithm Development

Market Microstructure Expertise

C++ Programming

Java Programming

Analytical Skills

Problem-Solving

Communication Skills

Leadership

Team Collaboration

Education

Bachelor's degree in Computer Science

Master's degree in Computer Science

Bachelor's degree in Electrical Engineering

Master's degree in Electrical Engineering

Bachelor's degree in Applied Math

Master's degree in Applied Math

Tools

FPGA

Job description

Quantitative Developer - Trading Algorithms

Job Function Summary
The Central Liquidity Strategies (CLS) business manages a number of portfolios and products designed to optimize the firm’s trading and execution approach by providing internal liquidity solutions for portfolio managers on both a risk and agency basis.

We are seeking a highly driven, results-oriented Senior Quantitative Developer with a strong background in building trading algorithms and a deep understanding of market microstructure and execution strategies to build a greenfield internal algorithmic trading platform. This role requires a combination of technical expertise, industry knowledge, and leadership skills to develop and optimize trading algorithms tailored to the business’s trading objectives.

Principal Responsibilities

1. Algorithm Development: Developing custom trading algorithms with tailored execution outcomes that implement our portfolio optimization approach. Developing a framework that both relies on internal signals and facilitates use by a broader set of teams with their own signals, either independently or collaboratively.
2. Simulation: Develop a framework of simulators that use market data and trade history (or models) to evaluate the efficacy of algorithmic logic changes.
3. Collaboration with Quant Analysts: Partner with quantitative research analysts to productionize market microstructure and short-term signal models.
4. Performance Evaluation: Develop execution analysis reporting with appropriate benchmarks to evaluate the performance of custom algorithms.
5. Monitoring Tools: Develop intraday and post-trade monitoring tools to monitor and troubleshoot algorithm performance.

Qualifications/Skills Required

1. Experience: 10+ years of relevant experience in the trading and finance industry.
2. Market Microstructure Expertise: Domain expert in the market microstructure of cash equities. Knowledge of liquid futures market structure is a bonus.
3. Development Skills: Significant hands-on development experience in event-driven, real-time trading processes. Proficiency in C++ is preferred. If using Java, must demonstrate techniques that maximize runtime performance; proficiency with techniques that cover best-in-class software-based latency; experience with FPGA a plus but not required.
4. Trade & Market Data: Reasonable amount of experience with understanding and coding trade and market data.
5. Leadership: Experience as a hands-on development lead, mentoring and guiding junior developers.
6. Education: Bachelor's or Master's degree in CS, Electrical & Electronic Eng, Biochem, applied math, or statistics.
7. Technical Skills: Strong programming skills in C++ or Java, with a focus on event-driven real-time trading processes.
8. Analytical Skills: Excellent quantitative and analytical skills, with the ability to interpret complex data and develop actionable insights.
9. Communication: Strong verbal and written communication skills, with the ability to convey technical concepts to non-technical stakeholders.
10. Problem-Solving: Proven ability to solve complex problems and think critically in high-pressure situations.
11. Team Player: Ability to work effectively in a team-oriented environment, collaborating with cross-functional teams.

The estimated base salary range for this position is $160,000 to $250,000, which is specific to New York and may change in the future. Millennium pays a total compensation package which includes a base salary, discretionary performance bonus, and a comprehensive benefits package. When finalizing an offer, we take into consideration an individual’s experience level and the qualifications they bring to the role to formulate a competitive total compensation package.