Quantitative Researcher - Execution Services

Millennium
London
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 an Alpha Researcher with experience in return / toxicity forecasting as it relates to market-making business offering pricing on larger blocks of equities either via outright risk pricing or other product structures.

Principal Responsibilities

  • Modelling: Design and develop models to assist in alpha generation. Areas include:
    • Automated evaluation of signal performance over time and feature engineering techniques to drive improvements.
    • Combination of multiple signals to produce a single useable alpha for different contexts and attribution of performance.
    • Robust estimation of key metrics such as signal correlations, decay, turnover and risk.
  • Rigorous Grounding: Given inherent complexity and high dimensionality, employ methods to avoid overfitting and poor OOS performance based on sound statistical reasoning.
  • Collaboration: Work with team members to decide the overall direction, design, and architecture of the platform, and collaborate with key stakeholders across the business.
Qualifications/Skills Required

  • Required Experience: 5+ years of experience in Quantitative Finance setting, with a proven track record of developing robust alpha models, preferably in an Equities context.
  • Education: PhD or Master's degree in Statistics, or a related field with an excellent understanding of the theory behind statistical and machine learning methods.
  • Technical Skills: Proficiency in Python and/or KDB, preferably both.
Posted 2025-08-17

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