Monolith Research · London
A small research practice, working on the unglamorous half of systematic trading: the data plumbing, the journalling, the reporting, the receipts. Monolith is founder-led and built around one live capital record. It does not manage client capital and it does not provide investment advice. What follows is a profile of the people behind the work, not a pitch.
Bilal Malik is the founder of Monolith Research, a UK-based systematic trading research and software company. He works from London and treats the company more like a small independent research practice than a startup. The work is split between writing the software that ingests data and evaluates ideas, and writing the documentation that records what those ideas did once committed to the market.
The markets studied are liquid and well-priced: large-cap US equity ETFs, G7 spot FX, and a narrow band of commodity exposures — precious metals and a small number of softs. The research stack is Python-first (pandas, NumPy, a custom backtesting framework), with internal summarisation workflows for journalled research and OANDA used for broker integration on the live-test side. Skills accumulated over the last two years: data analysis, backtesting, risk reporting, systematic research, and the discipline of writing things down before the screen refreshes.
Currently he is building two things in parallel: the research infrastructure that the rest of the company depends on, and the live capital evidence record that gives that research something to be measured against. Both are deliberately small. The aim, repeated like a refrain, is method over forecast: publish what can be defended, withhold what cannot, and let the record accumulate at its own pace.
Yusuf Nuriye is Quantitative Research Lead at Monolith Research. His background sits in Mathematics, Operational Research, Statistics and Economics through his MORSE degree at Lancaster University, giving him a strong base in probability, optimisation, statistical reasoning, and decision-making under uncertainty. The fit is natural: the work is less about prediction as theatre, and more about building research that can survive noisy data, changing markets, cost, risk, and constraint.
Yusuf has built institutional market exposure through Susquehanna International Group and Schroders. That gives him a view across different sides of markets: quantitative trading, market-making, probability, and execution on one side; portfolio construction, macro allocation, research process, and institutional risk language on the other. At Schroders, his team placed 2nd overall in a multi-asset investment exercise, analysing rates, inflation, and market cycles.
His work leads the research layer: finding and reading papers, translating them into hypotheses, checking data, stress-testing assumptions, and turning broad market questions into testable research. He contributes across systematic workflows, including backtesting logic, macro and cross-asset analysis, risk reporting, and the evaluation of strategy ideas across ETFs, FX, and commodities. The role is to separate signal from story, evidence from assumption, and useful research from noise.
The scope is intentionally narrow. Three asset classes the company can observe, report on, and reconstruct from versioned data without outrunning the evidence record. No fixed income, no single-name equity speculation, no crypto.
Tools chosen for legibility, not novelty. Every output a notebook produces is intended to be reproducible from a versioned commit and a dated data snapshot.
Monolith Research does not manage client capital, does not solicit investors, and does not provide investment advice. Correspondence is for research, technology, employment, partnership, and principal-backing discussions only.
Monolith Research