Senior Execution Quantitative Analyst - Fixed Income

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

Job summary

Millennium Management LLC in New York seeks a Senior Execution Quantitative Analyst to lead expansion of central execution into fixed income, covering IG/HY corporate, Treasuries, and swaps. This hands-on role blends deep market structure knowledge with quantitative methods and software development.

You will assess data and workflow landscapes, size near-term P&L opportunities, build execution analytics and cost models, and mentor engineers as the platform scales.

Qualifications

• 10+ years of fixed income electronic trading experience.
• Hands-on experience building execution infrastructure (RFQ and/or click-to-trade).
• Experience building TCA or cost models for fixed income instruments.
• Strong programming skills; experience with data pipelines and market data APIs.
• Degree in Mathematics, Computer Science, Engineering, or Physics.
• Demonstrated ability to translate data analysis into actionable P&L estimates.

Responsibilities

• Assess fixed income data assets and design a real-time and historical data layer to support execution and analysis.
• Identify and size opportunities in execution quality improvement and cost reduction across credit, rates, and swaps.
• Design, build, and operate internal execution algorithms for fixed income liquidity spectrum.
• Build transaction cost analytics and pre-trade cost models for fixed income instruments.
• Partner with PMs and traders to communicate execution analytics clearly.
• Recruit and mentor junior quants and engineers as the platform scales.

Skills

Fixed income

Electronic trading

Quantitative research

Programming

RFQ workflows

Click-to-trade

Market data

Education

Mathematics

Computer Science

Engineering

Physics

Tools

FIX protocol

Trading APIs

Market data APIs

Job description

Senior Execution Quantitative Analyst - Fixed Income

The Electronic Trading Solutions team is responsible for execution across a wide range of products and geographies. Working with portfolio managers, central trading, and technology, the team builds scalable, automated trading processes and provides execution analytics and market structure expertise. We are seeking a Senior Execution Quantitative Analyst to lead the expansion of our central execution capabilities into fixed income markets, covering corporate credit (IG/HY), Treasuries (cash and futures), and interest rate swaps. This is a hands‑on role requiring deep fixed income market structure knowledge combined with strong quantitative and software development skills. The candidate will be expected to assess the firm’s existing data and workflow landscape, identify and size near‑term P&L opportunities, and lead the build‑out of execution and analysis infrastructure.

Principal Responsibilities

• Assess the firm’s existing fixed income data assets (dealer axes, evaluated pricing, TRACE prints, swap SDR data, futures market data) and design a coherent real‑time and historical data layer to support execution and analysis
• Identify and size near‑term opportunities in execution quality improvement, transaction cost reduction, and flow internalization across credit, rates, and swaps
• Design, build, and operate internal execution algorithms covering the full fixed income liquidity spectrum— from liquid on-the-run Treasuries to illiquid corporate bonds—using RFQ, click‑to‑trade, and direct connectivity workflows
• Build transaction cost analysis and pre‑trade cost models for fixed income instruments;
• Partner with portfolio managers and traders to understand flow characteristics and communicate execution analytics clearly
• Recruit and mentor junior quants and engineers as the platform scales

Qualifications / Skills Required

• 10+ years of relevant experience in fixed income electronic trading, execution, or quantitative research on the buy side or sell side
• Hands‑on experience building execution infrastructure for institutional fixed income: RFQ and/or click‑to‑trade workflows, FIX protocol connectivity, and integration with major electronic venues
• Experience building TCA or cost models for fixed income instruments, including illiquid and sparsely traded securities
• Strong programming skills; experience with data pipelines and market data APIs
• Solid quantitative background; degree in Mathematics, Computer Science, Engineering, Physics, or a related field
• Demonstrated ability to translate data analysis into actionable P&L estimates and communicate findings to non‑technical stakeholders
• Experience as a hands‑on development lead, with a track record of taking projects from inception to production

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.