Quantitative Specialist
Millennium Management · New York, United States · 4mo ago
Job Title
Quantitative Specialist
About Millennium
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. Discover how transformative growth accelerates impact.
Meet the Team
The Execution Services team is responsible for trade execution across a broad range of products and geographies, with a focus on minimizing trading costs and execution risk while providing market commentary and related content. In partnership with the futures and volatility risk businesses, the central trading desk, and technology teams, the group develops and supports tools that help portfolio managers optimize execution.
What You'll Do
- Develop central futures electronic trading capabilities in partnership with trading technology, the trading desk, the volatility business, and portfolio managers
- Define and drive the roadmap for the futures central trading product, aligning business priorities with implementation planning
- Build futures execution analysis capabilities, including trading metrics, management reporting, and analytical tools
- Act as a subject matter expert on futures market structure, execution mechanics, and trading costs
- Advise portfolio managers across futures, equities, and FX on trading, market structure, execution quality, and slippage through targeted analysis and performance reviews
- Design and implement processes to assess trading costs across portfolio manager groups and identify opportunities to improve execution quality and reduce cost
- Design and maintain the transaction cost analysis framework for futures, while contributing to cross-asset enhancements where relevant
- Conduct research, test hypotheses, maintain data quality, and communicate findings and recommendations clearly and effectively
What You Bring
- 5+ years of experience in futures systematic execution, trading, or futures quantitative research
- Experience in transaction cost analysis and its application to optimal trading and portfolio construction; cross-asset experience across futures, equities, FX, and/or options is preferred
- Deep understanding of futures market structure, execution mechanics, and related operational considerations, including booking, clearing, give-ups, margin requirements, and position limits
- Familiarity with futures contract types such as outrights, calendar spreads, TAS, and BTIC, as well as futures brokers and execution algorithms
- 5+ years of KDB and Python programming experience in a quantitative finance environment
- Strong analytical, problem-solving, and statistical reasoning skills, including experience fitting trading cost and market impact models
- Strong communication skills, with the ability to translate technical concepts into clear, actionable insights
- Scientific training, preferably in mathematics, computer science, or a related field, along with experience using Linux command line tools, development environments, and Python data analysis libraries such as Pandas and matplotlib
Salary Range
Millennium offers a total compensation package which includes a base salary, discretionary performance bonus, and comprehensive benefits. The estimated base salary range for this position is $145k to $200k, which is specific to New York and may change in the future. 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.