Quant Developer - Equities Algo Dev 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.

• 5+ years of work 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.

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. 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.