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Finance is a vast discipline. There are many inter disciplinary options available in the world of finance. Quantitative methods, advanced mathematics, are the new techniques that are being used extensively in the world of finance today. Financial Engineering is a multidisciplinary field that uses financial theory, different methods of engineering, mathematics, statistics and programming tools. It also involves usage of other theories from physics, econometrics that utilise complex techniques and tools of numerical analysis to solve issues in investment finance. Quantitative finance being highly technical has been in use by prominent banking institutions in the world. People from other fields were not exposed to these techniques.
Financial Engineering in India gained prominence only in the later half of the first decade of this century. Quantitative analytic teams set up by the Lehman Brothers for their analytics team in India in 2004-05 jump started this trend. The “Quant” team set up then, now part of Nomura is still one of the best Quant teams in India. Following the Lehman Brothers many other multinational financial giants such as Deutsche Bank, BNY Mellon, Credit Suisse, Morgan Stanley, and Citibank have set up Quant support teams and Risk Analytics teams in India. The prospects of Quant teams in finance in India have just gained prominence in the last couple of years.
Other financial analytic firms like for e.g. GlobeOp Financial Services, a leading fund administrator that provides the world’s most comprehensive array of financial tech products and services, started doing good Quant analytics work in India. These companies use the techniques of financial engineering extensively to provide support services for business process outsourcing, private equity funds, family wealth offices and even managing accounts. The hedge fund industry has been growing which gives financial engineering in India the added boost to make it a field that is currently in demand by stock brokers, financial advisors or even students who have a head for complex mathematical methods. Not to be left behind even broking houses have started using Quant-based strategies for their proprietary trading desks.
This growing prominence of financial engineering in India has made is quite necessary for people who are part of finance teams in broking firms, fund management companies or even banks. To be successful in using these highly technical methods it is imperative for people to have proper experience and proper educational background. A career as an actual Quant analyst is possible for people who are good at mathematics, statistics or have an engineering background. Though the frenzy of hiring for Quant teams had slowed down after the financial crisis, it seems to be picking up again, with jobs available for the right candidates.
There are institutes such as NISM and IIQF that offer formal courses or postgraduate courses such as Post Graduate Program in Financial Engineering, Applied Mathematical Finance for Engineers are being offered in India for people desirous of getting a formal education in this field. The entrance criteria for the postgraduate course offered by IIQF is quite tough in comparison with others and it offers a rigorous and much advanced curriculum.
Article Source:
a. Wikipedia.org
b. iiqf.org
c. nism.ac.in
Please share your thoughts on the above article. I shall be happy to help you on the same.
Financial Engineering in India gained prominence only in the later half of the first decade of this century. Quantitative analytic teams set up by the Lehman Brothers for their analytics team in India in 2004-05 jump started this trend. The “Quant” team set up then, now part of Nomura is still one of the best Quant teams in India. Following the Lehman Brothers many other multinational financial giants such as Deutsche Bank, BNY Mellon, Credit Suisse, Morgan Stanley, and Citibank have set up Quant support teams and Risk Analytics teams in India. The prospects of Quant teams in finance in India have just gained prominence in the last couple of years.
Other financial analytic firms like for e.g. GlobeOp Financial Services, a leading fund administrator that provides the world’s most comprehensive array of financial tech products and services, started doing good Quant analytics work in India. These companies use the techniques of financial engineering extensively to provide support services for business process outsourcing, private equity funds, family wealth offices and even managing accounts. The hedge fund industry has been growing which gives financial engineering in India the added boost to make it a field that is currently in demand by stock brokers, financial advisors or even students who have a head for complex mathematical methods. Not to be left behind even broking houses have started using Quant-based strategies for their proprietary trading desks.
This growing prominence of financial engineering in India has made is quite necessary for people who are part of finance teams in broking firms, fund management companies or even banks. To be successful in using these highly technical methods it is imperative for people to have proper experience and proper educational background. A career as an actual Quant analyst is possible for people who are good at mathematics, statistics or have an engineering background. Though the frenzy of hiring for Quant teams had slowed down after the financial crisis, it seems to be picking up again, with jobs available for the right candidates.
There are institutes such as NISM and IIQF that offer formal courses or postgraduate courses such as Post Graduate Program in Financial Engineering, Applied Mathematical Finance for Engineers are being offered in India for people desirous of getting a formal education in this field. The entrance criteria for the postgraduate course offered by IIQF is quite tough in comparison with others and it offers a rigorous and much advanced curriculum.
Article Source:
a. Wikipedia.org
b. iiqf.org
c. nism.ac.in
Please share your thoughts on the above article. I shall be happy to help you on the same.