Quantitative Developer

4 weeks ago

New York, United States Millennium Management Corp Full time

Quantitative Developer (C++) - Algo Vol Trading Technology

The Algo Development Trading Technology team is in the process of building a new Volatility Trading system. We are developing a systematic trading platform for trading options which includes

  • Option execution algorithms to optimize execution for our Portfolio Managers globally.
  • Analytics to support post trade analysis and TCA.
As a Quantitative Developer, you will play a vital role in designing, implementing, and maintaining our options trading systems. This is an exciting opportunity to contribute to a dynamic and fast-paced environment, leveraging your C++ expertise and options trading business knowledge.

Responsibilities:
  • Collaborate with quantitative analysts and traders to translate their strategies into efficient and robust code.
  • Develop, optimize, and maintain software applications for options trading, primarily using C++, ideally version 17 or better
  • Design and implement high-performance trading systems, ensuring reliability, scalability, and low-latency execution.
  • Work closely with infrastructure teams to improve trading infrastructure, connectivity, and performance.
  • Conduct thorough testing and debugging of software components, resolving any issues or discrepancies.
  • Stay up-to-date with the latest developments in technology and trading practices to continuously enhance systems.
  • Provide technical support and mentorship to junior developers, promoting best practices and knowledge sharing.
Requirements:
  • Bachelor's or Master's degree in Computer Science, Mathematics, or a related field.
  • 10 - 12 years of work experience out of which at least 5 years of experience in building automated options trading systems.
  • Deep understanding of financial markets, including equities, derivatives, options, and futures, is crucial.
  • Strong knowledge of options pricing models, trading strategies, risk management, and market analysis is highly valued.
  • Proficiency in quantitative analysis, mathematical modeling, statistics, and probability theory is essential for option pricing and analytics.
  • Candidates should possess a solid understanding of options risk management techniques, such as delta hedging with all the products such as index options with futures etc.
  • Good understanding of different option markets and market mechanisms of options market microstructure.
  • Good knowledge of option auction and expiration process and the market impact.
  • Good knowledge of products traded by volatility traders
    • Equity Options
    • Index Options
    • Spreads on Equity and Index options (Complex Options)
    • Variance Swap (Var Swap)
    • Volatility Swap (Vol Swap)
  • Strong knowledge of options trading business, including concepts, strategies, and risk management.
  • Extensive experience with C++ and solid understanding of modern C++ features, multithreading, and low-level programming.
  • Proficiency in software development methodologies, version control systems, and debugging tools.
  • Experience with C++ testing framework such as google fixtures and code coverage tools as gcov.
  • Familiarity with distributed systems, high-performance computing, and algorithm optimization.
  • Excellent problem-solving and analytical skills, with the ability to quickly understand and apply complex concepts.
  • Strong communication skills and the ability to collaborate effectively with cross-functional teams.
  • Self-motivated, detail-oriented, and able to work independently in a fast-paced environment.
Preferred Qualifications:
  • Previous experience in options trading or algorithmic trading systems development.
  • Proficiency in other programming languages such as Python.
  • Experience in building cloud (AWS, GCP) based volatility trading solutions for back testing and regression testing.
  • Experience with building analytics tool using KDB.
  • Knowledge of quantitative finance, statistical analysis, and regression.
  • Familiarity with options trading markets.


If you are passionate about options trading, possess strong C++ skills, and are excited about contributing to a leading options trading business, we encourage you to apply. Join us and be part of a dynamic team dedicated to pushing the boundaries of finance and technology.

Millennium pays a total compensation package which includes a base salary, discretionary performance bonus, and a comprehensive benefits package. The estimated base salary range for this position is $175,000 to $250,000, 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.

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