Quantitative Researcher (TCA / Execution Modelling) Global Equities
Role Overview
We are seeking a Quantitative Researcher focused on execution modelling and transaction cost analysis (TCA) within a high-performance equities trading environment.
This role sits at the intersection of quant research, execution optimisation, and portfolio construction, with responsibility for building and enhancing models that directly impact trading performance across $1B+ in daily global equity notional.
The position is not an execution trading role, it is a research-driven position requiring strong alpha-oriented thinking applied to execution and market microstructure.
Key Responsibilities
- Develop, maintain, and enhance transaction cost models (TCA) and execution forecasting frameworks used in portfolio optimisation
- Analyse and model market impact, slippage, liquidity, and execution risk across global equity markets
- Partner closely with trading and portfolio teams to monitor and improve execution quality
- Apply market microstructure expertise to identify inefficiencies and drive execution alpha
- Contribute to alpha research initiatives, particularly where execution signals or microstructure insights can provide edge
- Work with large-scale trading datasets to build robust, data-driven models for cost prediction and optimisation
- Continuously refine processes to improve scalability, accuracy, and performance of execution analytics
Candidate Profile
- 16 years of experience as a Quantitative Researcher in a buy-side environment (preferred)
- Strong candidates from asset managers / long-only firms with relevant experience also considered
- Exceptional candidates from sell-side trading desks will be considered
- Strong academic background in a quantitative discipline (e.g.
Mathematics, Physics, Computer Science, Engineering)
Required Skills & Experience
- Strong understanding of equity market microstructure (order books, liquidity, impact, execution strategies)
- Experience building or working with transaction cost models / execution analytics
- Demonstrated research experience (alpha or signal development) not purely execution/trading
- Proficiency in Python and/or other quantitative programming languages
- Experience working with large, high-frequency datasets
- Strong statistical and modelling skills
Nice to Have
- Experience integrating execution models into portfolio optimisation frameworks
- Exposure to systematic trading or quant equity strategies
Key Differentiator
This is a research-first role, not an execution seat.
The focus is on modelling, alpha-adjacent research, and improving trading outcomes through data and microstructure insight, rather than trade execution itself.