Institutional Equity Division - Vice President, Quantitative Researcher – Algorithmic Trading (Mumbai)

Role overview

Institutional Equity Division - Vice President, Quantitative Researcher – Algorithmic Trading (Mumbai) at Morgan Stanley

Research and develop quantitative techniques to improve the performance, execution quality and trading outcomes of MSET's algorithmic trading products .

We are looking for an experienced Quantitative Researcher to join the team in Mumbai, focusing on research and development for Morgan Stanley Electronic Trading (MSET)'s algorithmic trading products .

Responsibilities

• Apply concepts from high-frequency trading and market making to algorithmic execution, including short-horizon price prediction, order placement, liquidity capture, fill probability, queue dynamics and adverse selection.
• Analyze large-scale full-depth order book and order-level (Level 3) market data to understand market behaviour and identify opportunities to improve trading decisions.
• Develop quantitative models, signals and features using order flow, liquidity, cross-asset information and other market data to forecast short-horizon market behaviour and improve execution decisions.
• Apply rigorous statistical techniques including time-series analysis, statistical inference and predictive modelling to evaluate research hypotheses and identify robust effects.
• Design and implement high-fidelity, event-driven simulations using historical order-level market data to evaluate trading strategies under realistic conditions, including appropriate modelling of queue position, fill behaviour, latency and transaction costs .
• Conduct cross-asset research , incorporating information from multiple instruments and order books to improve trading decisions and execution performance.
• Develop rigorous methodologies for measuring execution quality and trading performance , including transaction-cost analysis and evaluation against relevant execution benchmarks, while accounting for latency, market impact, transaction costs, adverse selection and simulation bias.
• Apply appropriate out-of-sample testing and validation methodologies to distinguish robust signals from overfitting and simulation artefacts.
• Translate successful research into high-performance implementations suitable for latency-sensitive production environments.
• Profile and optimize performance-critical code for latency, throughput and computational efficiency.
• Work closely with quantitative researchers, electronic traders and technology teams globally to take research from hypothesis and simulation through to production.

Required qualifications

• 3+ years of professional quantitative R&D experience in high-frequency trading, electronic market making, algorithmic trading or a closely related systematic trading environment.
• Experience applying market microstructure concepts to real-world trading problems.
• Strong programming skills in a performant, low-latency language such as C++, Java or Rust , including experience developing efficient, performance-critical software.
• Strong proficiency in Python or a comparable quantitative research environment for data analysis, modelling and rapid research iteration.
• Experience working with full-depth / Level 3 order book data and order-level market events , including analysis of detailed order-book state and dynamics.
• Experience developing or using event-driven market simulation and backtesting frameworks for high-frequency trading or execution research.
• Strong quantitative and statistical modelling skills, including experience with time-series analysis, statistical inference, predictive modelling and empirical research .
• Experience designing rigorous experiments and applying out-of-sample validation to evaluate predictive signals and guard against overfitting.
• Degree in Computer Science, Mathematics, Statistics, Physics, Engineering, Financial Engineering or another highly quantitative discipline.

Preferred qualifications and skills

• Experience researching algorithmic execution, smart order placement, liquidity capture, execution optimization or transaction-cost analysis .
• Experience applying techniques developed in an HFT or electronic market-making environment to broader algorithmic trading problems.
• Strong understanding of electronic market microstructure, including order-book dynamics, matching mechanics, queue position, liquidity, fill behaviour, adverse selection and market impact .
• Experience developing and evaluating quantitative trading strategies using cross-asset and cross-instrument information .
• Strong knowledge of modern C++, algorithms, memory management, concurrency and performance optimization.
• Experience working with very large event-level datasets and high-performance simulation or research infrastructure.
• The Candidate
• The ideal candidate combines the mindset of a quantitative researcher with strong software engineering ability .
• They will bring a deep understanding of how electronic markets behave at the order-book level and be able to translate that understanding into practical improvements in algorithmic trading.
• We are particularly interested in candidates who can apply the sophisticated modelling, forecasting and simulation techniques used in high-frequency and market-making environments to improve execution decisions, trading performance and client outcomes across Morgan Stanley's electronic trading platform .
• WHAT YOU CAN EXPECT FROM MORGAN STANLEY:
• At Morgan Stanley, we raise, manage and allocate capital for our clients – helping them reach their goals.
• We do it in a way that’s differentiated – and we’ve done that for 90 years.
• Our values - putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back - aren’t just beliefs, they guide the decisions we make every day to do what's best for our clients, communities and more than 80,000 employees in 1,200 offices across 42 countries.
• At Morgan Stanley, you’ll find an opportunity to work alongside the best and the brightest, in an environment where you are supported and empowered.
• Our teams are relentless collaborators and creative thinkers, fueled by their diverse backgrounds and experiences.
• We are proud to support our employees and their families at every point along their work-life journey, offering some of the most attractive and comprehensive employee benefits and perks in the industry.
• There’s also ample opportunity to move about the business for those who show passion and grit in their work.
• To learn more about our offices across the globe, please copy and paste https://www.morganstanley.com/about-us/global-offices​ into your browser.
• Morgan Stanley is an equal opportunity employer committed to building and maintaining a workforce that is diverse in experience and background.
• Our recruiting efforts reflect our strong commitment to a culture of inclusion, where individuals are hired, developed, and advanced based on their skills and talents.
• Our workforce reflects a broad cross-section of the global communities in which we operate, bringing a variety of backgrounds, talents, perspectives, and experiences.
• For more information, please visit: https://www.morganstanley.com/people-opportunities/eeo .

Employment details

• Location: Mumbai [Maharashtra] [India]

Application details

• The role will apply techniques and insights from high-frequency trading, market making and electronic market microstructure to improve algorithmic trading performance and execution outcomes.

About the employer

• Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services.
• From global institutions to hedge funds, investors come to Morgan Stanley for sales, trading, and market-making services in almost every type of financial instrument in all the world’s financial markets.
• Morgan Stanley’s Institutional Equity Division (IED) is a world leader in the origination, distribution and trading of equity, equity-linked and equity-derivative securities.

Additional role details

• Company Profile
• The Firm's employees serve clients worldwide including corporations, governments, and individuals from more than 1,200 offices in 43 countries.
• As a market leader, the talent and passion of our people is critical to our success.
• Together, we share a common set of values rooted in integrity, excellence and strong team ethic.
• Morgan Stanley can provide a superior foundation for building a professional career - a place for people to learn, to achieve and grow.
• A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture.
• Department Profile
• Morgan Stanley professionals use our network and technology to provide liquidity and sophisticated analysis, to manage risk and execute reliably in the fast-changing markets.
• Our broad and deep client relationships, market-leading platform and intellectual insights enable us to be a world-class service provider to our clients for their financing, market access and portfolio management needs.
• Morgan Stanley's Equities Quantitative Research (QR) team develops quantitative models, trading strategies and technology that support the Firm's electronic trading business.
• The successful candidate will combine rigorous quantitative research with strong software engineering skills and experience conducting realistic, high-fidelity simulations using full-depth, order-level market data .