IDDD: Quantitative Finance

What is IDDD Quantitative Finance?

The Interdisciplinary Dual Degree on Quantitative Finance offered by the Department of Management Studies in IIT Madras enables students to adapt to new developments in finance. Through theoretical and applied concepts in quantitative finance, financial engineering and risk management, the program bridges the gap between application of modern process technologies and state-of-the-art finance. It prepares students for careers involving design and management of novel financial instruments for evaluation of risks and gains.

Eligibility

 Open to all students of all branches of IITM with a minimum CGPA of 8.0 at the end of 5th semester. Selection will be strictly based on CGPA till the 5th semester.

Course structure

The course is designed to familiarize students with the following fundamentals:

• Fundamental Finance – To understand the core principles, theories and concepts of finance
• Advanced financial tools and techniques – To understand current financial markets with emphasis on new innovations in fintech. 
• Computational/Analytical capabilities – To acquire analytical skills in finance.

The course spans 160 credits with the following breakdown:

• Core: 60 credits
• Elective: 30 credits 
• Project: Worth 70 credits earned over the 9th and 10th semesters plus the summer preceding or succeeding them, the project can be done in collaboration with industry.

Future avenues

The IDDD in quantitative finance opens up a wide range of lucrative prospects:

• Quantitative Analyst: Quantitative finance opens up opportunities to work as a quantitative analyst. These professionals develop mathematical models and statistical tools to analyze financial markets, assess risks, and optimize investment strategies. Quantitative analysts are in high demand in investment banks, hedge funds, asset management firms, and other financial institutions.
• Risk Manager: Risk managers are responsible for identifying, measuring, and managing financial risks within an organization. They utilize quantitative models and statistical techniques to assess market, credit, liquidity, and operational risks. Risk managers can work in various financial institutions, including banks, insurance companies, and consulting firms.
• Financial Engineer: Financial engineers design and develop innovative financial products, derivative instruments, and structured solutions. Financial engineers often work in collaboration with traders, investment bankers, and quantitative analysts to design and implement financial strategies. They work at investment banks, trading firms, and financial technology companies.