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BestX Quant Developer - Job Opportunity at State Street

London, GB
Full-time
Senior
Posted: July 7, 2025
Hybrid
GBP 100,000 - 140,000 per year based on senior-level quantitative development roles in London's financial district, with potential for significant bonuses and equity compensation given State Street's market position and the specialized nature of BestX platform development

Benefits

Competitive matching gift programs that demonstrate corporate social responsibility commitment and provide tax-efficient charitable giving opportunities
Comprehensive medical care packages that exceed industry standards for financial services firms
Robust insurance coverage including life, disability, and professional liability protection
Generous savings and retirement plans with employer matching contributions
Flexible work programs enabling work-life balance optimization
Extensive professional development programs and educational support for continuous skill enhancement
Access to employee resource networks fostering diversity and inclusion
Paid volunteer days supporting community engagement and corporate citizenship

Key Responsibilities

Drive implementation and delivery of critical server-side components, microservices, and web APIs that form the backbone of State Street's BestX multi-asset analytics platform
Lead the design and architecture of complex analytics modeling solutions for multi-asset Transaction Cost Analysis infrastructure supporting MiFID and MiFIR regulatory compliance
Take ownership of end-to-end project delivery while influencing strategic technology decisions that shape the platform's future direction
Establish and enforce best practices, clean-code standards, and design patterns across the development team
Champion Test Driven Development and CI/CD practices to ensure robust, scalable solution delivery
Develop deep domain expertise in Transaction Cost Analysis and key benchmarks critical for regulatory compliance
Drive organizational change through technical innovation and thought leadership in quantitative finance

Requirements

Education

Bachelor's or Master's degree in Computer Science, Mathematics, Statistics, or related STEM field from top ranked University

Experience

10+ years of experience in programming

Required Skills

strong programming skills in high-level languages such as Python, Julia Proficient in modern data science tools stacks (Jupyter, pandas, numpy, sklearn) with machine learning experience Good understanding of using Slurm or similar parallel computing tools Proficient in quantitative analysis, mathematical modelling, statistics, regression, and probability theory Hands-on experience working with AWS and/or other modern cloud based infrastructure Exhibit superior skills in modern Agile, Cloud-based, Server side, DB, Development knowledge/expertise in FX/Fixed Income/Equity/ Equity Derivatives products KDB Exposure and understanding in one or more of the modern JavaScript build tool chain using things like node, npm, rush, yarn, webpack, babel, cyprus
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Sauge AI Market Intelligence

Industry Trends

Financial services firms are increasingly investing in regulatory technology (RegTech) solutions to meet MiFID II and MiFIR compliance requirements, driving demand for quantitative developers with transaction cost analysis expertise. The global TCA market is experiencing rapid growth as asset managers seek to demonstrate best execution and optimize trading strategies. Cloud-native architecture adoption is accelerating across financial services, with major institutions migrating legacy systems to AWS, Azure, and Google Cloud platforms. This shift requires specialized skills in containerization, microservices, and distributed computing architectures. The convergence of quantitative finance and machine learning is creating new opportunities for professionals who can bridge traditional financial modeling with modern data science techniques. Python and Julia are becoming the dominant languages for quantitative finance applications due to their performance and extensive libraries. Post-trade analytics and algorithmic trading optimization are becoming critical competitive differentiators for asset managers and custodian banks, leading to increased investment in multi-asset analytics platforms and real-time processing capabilities.

Role Significance

Likely part of a 8-15 person development team within State Street's Global Technology Services division, collaborating with quantitative analysts, product managers, and infrastructure engineers across multiple geographic locations
Senior individual contributor with technical leadership responsibilities, positioned to influence architectural decisions and mentor junior developers while maintaining hands-on development focus on mission-critical trading analytics systems

Key Projects

Implementation of real-time transaction cost analysis engines for multi-asset class trading Development of regulatory reporting frameworks for MiFID II compliance Migration of legacy trading systems to cloud-native microservices architecture Integration of machine learning models for predictive analytics and trade optimization Building APIs and data pipelines for institutional client reporting and analytics

Success Factors

Deep understanding of financial markets microstructure and trading mechanics across asset classes, enabling effective translation of business requirements into technical solutions Proficiency in both traditional quantitative methods and modern machine learning techniques, allowing for innovative approaches to transaction cost analysis and market impact modeling Strong software engineering practices including test-driven development, continuous integration, and clean architecture principles, ensuring scalable and maintainable code in a regulated environment Ability to work effectively in cross-functional teams with traders, compliance officers, and business stakeholders, translating complex technical concepts into business value propositions Continuous learning mindset to stay current with evolving regulatory requirements, market structure changes, and emerging technologies in financial services

Market Demand

High demand driven by regulatory compliance requirements, digital transformation initiatives in financial services, and the scarcity of professionals combining quantitative finance expertise with modern cloud development skills

Important Skills

Critical Skills

Python and Julia programming skills are essential as these languages dominate quantitative finance applications, with Python's ecosystem (pandas, numpy, scikit-learn) being fundamental for data analysis and machine learning implementation Transaction Cost Analysis expertise is crucial for understanding market microstructure, regulatory requirements, and client needs in the post-MiFID II environment Cloud computing experience, particularly AWS, is vital as financial institutions migrate to cloud-native architectures for scalability and cost efficiency Mathematical modeling and statistical analysis capabilities are core to developing accurate and reliable trading analytics and risk management systems

Beneficial Skills

KDB/Q database expertise provides significant advantage in high-frequency trading environments and time-series analysis applications Multi-asset class knowledge across FX, fixed income, and equity derivatives enables comprehensive solution development and cross-asset analytics Modern JavaScript toolchain familiarity supports full-stack development capabilities and integration with web-based client interfaces Parallel computing skills using Slurm or similar tools enable handling of large-scale computational workloads required for institutional-grade analytics

Unique Aspects

Opportunity to work on State Street's BestX platform, a leading transaction cost analysis solution used by major asset managers and institutional investors worldwide
Exposure to cutting-edge quantitative finance problems across multiple asset classes including FX, fixed income, equities, and derivatives
Direct involvement in regulatory technology development addressing MiFID II and MiFIR requirements, providing valuable expertise in the growing RegTech sector
Access to State Street's extensive client network and market data, enabling development of sophisticated analytics and benchmarking capabilities
Hybrid work arrangement in London's financial district with global collaboration opportunities across State Street's technology centers

Career Growth

Typical progression to senior leadership roles within 3-5 years given the specialized skill set and high demand for quantitative technology expertise in financial services

Potential Next Roles

Lead Quantitative Developer or Principal Engineer roles with broader technical leadership responsibilities Quantitative Research Director positions focusing on trading strategy and market microstructure research Head of Trading Technology or Chief Technology Officer roles in fintech or asset management firms Product Management positions for financial technology platforms and trading systems Independent consulting roles specializing in regulatory technology and trading analytics

Company Overview

State Street

State Street Corporation is a Fortune 500 financial services company and one of the world's largest custodian banks with over $40 trillion in assets under custody and administration. The company serves institutional investors globally through its asset management, custody, and financial data services divisions.

Top-tier position in the global custody and asset servicing industry, competing directly with BNY Mellon and Northern Trust while maintaining leadership in exchange-traded funds through State Street Global Advisors
London office serves as the European headquarters and a major technology hub, supporting clients across EMEA markets with significant investment in local talent and infrastructure development
Large institutional environment with structured career development programs, emphasis on regulatory compliance, and increasing focus on digital transformation and innovation within traditional banking framework
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