Financial mathematics is for students or professionals with a strong mathematical background. It covers principles and techniques of quantitative finance to prepare you for advanced work in the financial sector or research in mathematical finance. Full- or part-time study. Our graduates are highly sought after.
KEY BENEFITS
- Course spans an entire range of topics from fundamental mathematics through to applied computation.
- Asset classes covered include equity, foreign exchange fixed income and credit.
- An environment close to the City of London, with study on a part-time or full-time basis.
KEY FACTS
Student destinations
Our graduates are highly sought after by investment banks, corporate risk management units, insurance companies, fund management institutions, financial regulatory bodies, brokerage firms, and trading companies. Recent employers of our graduates include, Capital Investment, Credit Suisse, European Bank for Reconstruction & Development, Fitch Ratings, HSBC and Morgan & Stanley. Some graduates have pursued research degrees in financial mathematics.
Programme leader/s
Professor Teemu Pennanen
Awarding Institution
King's College London
Credit value (UK/ECTS equivalent)
UK 180/ECTS 90
Duration
One year FT, two years PT, September to September.
Location
Strand Campus.
Year of entry 2013
Offered by
School of Natural and Mathematical Sciences
Department of Mathematics
Closing date
31 August or until places are filled.
Intake
Approximately 29 FT.
Fees
PT Home: £11000 (2013)
PT Overseas: £11000 (2013)
FT Home: £22000 (2013)
FT Overseas: £22000 (2013)
CONTACTS
Contact information
Postgraduate Officer, Centre for Arts & Sciences Admissions (CASA)
tel: +44 (0) 20 7848 2574 / 7210
fax: +44 (0) 20 7848 7200
Email
Website
PURPOSE
For students or professionals with a strong mathematical background. The part-time programme is designed to be compatible with the needs of those already working in the financial sector. Covers principles and techniques of quantitative finance to prepare students for advanced work in the financial sector or research in mathematical finance.
DESCRIPTION
Students take the three compulsory modules: Applied Probability and Stochastics; Risk-Neutral Valuation; Interest Rate and Foreign Exchange Dynamics.
In addition, students take five further modules chosen from the following: Financial Markets; Stochastic Analysis; Statistics in Finance; Numerical and Computational Methods in Finance; Risk in Finance; Credit Risk Management; Optimisation and Computational Finance.
Subject to approval, selected options from the MSc in Mathematics may be included. Following written examinations, you will carry out a three-month research project and write a report on a topic in Financial Mathematics.
STRUCTURE OVERVIEW
Core programme content
Indicative non-core content
Compulsory- Applied Probability and Stochastics
- Interest Rate and Foreign Exchange Dynamics
- Risk Neutral Valuation.
Optional- Advanced Reading Module in Mathematics
- Asset Pricing
- Credit Risk Management
- Financial Markets
- Numerical and Computational Methods
- Optimisation and Computational Finance
- Risk in Finance
- Stochastic Analysis
- Statistics in Finance.
FORMAT AND ASSESSMENT
At least eight taught modules assessed by written examinations and one individual project. Two prizes are normally awarded each year for best overall performance in the MSc in Financial Mathematics.
ACADEMIC ENTRY REQUIREMENTS
General entry advice
Equivalent of a 2:1 minimum UK BSc degree in mathematics or mathematics based subject.
APPLYING TO KING'S
To apply for graduate study at King's you will need to complete our graduate online application form. Applying online makes applying easier and quicker for you, and means we can receive your application faster and more securely.
King's does not normally accept paper copies of the graduate application form as applications must be made online. However, if you are unable to access the online graduate application form, please contact the relevant admissions/School Office at King's for advice.
APPLICATION PROCEDURE
Your application will be assessed by an admissions tutor and we aim to reply within six to eight weeks of the date of submission.
PERSONAL STATEMENT & SUPPORTING INFORMATION
Please address your mathematical qualifications, any relevant experience and eventual career ambitions in a one page personal statement.
FUNDING
Most applicants are self-funded.
The ET Davies Scholarship may be awarded to one (or possibly shared by two) outstanding applicants in the Department. The value of the scholarship is not fixed, but will vary between £500 and £2,000 applicants. The College also has a wide range of scholarships and bursaries available to help fund study at King's. Please see the Graduate School funding database for eligibility, application details and deadlines.
Student profiles
Financial Mathematics MSc
After completing my undergraduate degree in mathematics at King’s I thought that an MSc in Financial Mathematics would be the natural progression. Pursuing this MSc has made my undergraduate degree more relevant to the real world and having the ambition to one day become a Quant; it has strengthened my understanding of the modeling of the Financial World. Being a part of this department and working with people who excelled in their fields has enabled me to broaden my understanding of mathematics.
Being an international student I thought I would feel intimidated arriving at King’s but that was far from the case. King’s has a very friendly culture. The Students’ Union has a number of societies and events that make you feel welcome. I have been a member of the Pakistani society as well as the Cricket Club for the past four years.
King’s provides excellent accommodation services. There are a number of residences based throughout London and on different campuses. The accommodation office also organises different events throughout the year to help students find private accommodation throughout the year. London having vast travel links makes it easy to find affordable housing in different areas.
Staff profiles
Financial Mathematics MScFinancial Mathematics is a flourishing area of modern science and its numerous applications have become vital to the day to day functioning of the world's financial institutions. As a consequence, a solid command of the principles and techniques of quantitative finance is essential for a responsible approach to the trading, asset management, and risk control of complicated financial positions.
The Financial Mathematics Research Group at King's was formed in 2000, and is currently staffed by seven members. I was the most cited author in the industry leading magazine 'Risk Magazine' for 2010, confirming that the group maintains a relevant impact on the industry. The group has been consulting for regulators such as the FSA, and our research in Credit Risk further highlights the group's leadership in the London financial community.
In the 2008 Research Assessment Exercise, the Applied Mathematics unit containing Financial Mathematics had 65% of its research judged as "internationally excellent" or "world leading", the highest figure recorded by any London college, and close to the UK national maximum of 75%.
The Financial Mathematics MSc programme is designed to enhance the students' knowledge and understanding of the subject, as well as to provide the required training for students who wish to study for a doctoral degree in the area.