Senior Execution Quantitative Analyst – Futures

Millennium•New York, NY

3d•$175,000 - $250,000

About The Position

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. The Execution Services team is responsible for trade execution across a wide range of products and geographies, with a focus on minimizing trading costs and execution risks, as well as providing market commentary and related content. Working with partners in the futures and volatility risk businesses, central trading desk and technology, the team offers a number of tools to assist in a portfolio manager’s execution process.

Requirements

5+ years of experience in futures systematic execution or trading, or futures quantitative research
Experience in transaction cost analysis and its integration into optimal trading and portfolio construction, with cross-asset experience across futures, equities, FX and/or options preferred
Experience fitting transaction cost and impact models, including futures-specific nuances around these models
A deep understanding of futures market structure, execution mechanics and related nuances around booking, clearing, give-ups, margin requirements and relevant regulatory restrictions such as position limits
Familiarity with futures contract types, including outrights, calendar spreads, TAS and BTIC, as well as futures brokers, execution algos and technical stacks required for different styles of trading
5+ years of KDB and Python programming in a quantitative finance setting, with strong programming skills and familiarity with data analysis in Python, including Pandas, matplotlib and relevant statistical and data science modules
Highly analytical with strong problem-solving skills, attention to detail and an understanding of the basic principles of statistical inference
Strong communication skills, with the ability to explain technical and sophisticated concepts clearly and concisely and distill nuances into actionable insights or a no-op; scientific education, preferably degree(s) in mathematics, computer science or related fields; and proficiency with command line tools in Linux environments and development tools including virtual environments, IDEs and coding agents such as Codex or Claude Code

Responsibilities

Develop central futures electronic trading capabilities by partnering with trading technology, the trading desk, the volatility business and portfolio managers
Create a roadmap for the futures central trading product, including partnering with the business to determine prioritization and with trading technology to agree implementation
Develop futures execution trading analysis capabilities, futures trading data metrics and management reporting
Act as the futures market structure expert and offer portfolio manager consulting across futures, equities and FX on trading, market structure and trading costs, including deep-dive reviews of portfolio manager trading performance and slippage
Offer portfolio manager consulting on the firm’s futures trading infrastructure and help portfolio managers find the best match between the firm’s various offerings and their trading style
Design and implement a process that drills into trading costs of portfolio manager groups, identifying and recommending opportunities to improve execution quality and reduce costs
Design and maintain the transaction cost analysis system as it applies to futures, and contribute to cross-asset TCA enhancements where relevant
Design and create scripts, reports and visual tools for analysis; conduct research; identify patterns; evaluate trends; formulate and test hypotheses; interpret results; communicate ideas, questions and conclusions concisely and effectively; contribute to regular data maintenance; and develop expertise in the firm’s trading practices and industry developments