Mathematical Finance: Mathematical Finance MMF

In the Mathematical Finance (MMF) program, students reshape their existing analytical abilities with the help of senior academics in mathematics, computer science, statistics, and engineering who have experience with the tools of mathematical finance. This cross-disciplinary approach develops graduates with a richer, more innovative approach to applied mathematics in real-world situations. Some of the faculty are seasoned practitioners from the financial industry while others are from leading firms in the financial software industry, developing applications around requirements like risk management, portfolio analysis, and the pricing of advanced derivatives.

The heart of the program is the four-month internship or campus project. Working on real financial projects, students learn to integrate and apply theoretical knowledge gained earlier in the program. In the internship, students team up with employees of the sponsoring firm to experience how financial mathematics impacts the decision-making processes of a financial services organization.

Students arrive on campus in mid-August and will proceed through the program as a group, following a common course of study. The course of study will be fully integrated and computer-laboratory intensive. Course projects and assignments will be designed to integrate the material learned from a variety of the courses and to utilize it in a practical context. Excellent communication and presentation skills will be emphasized in both the oral and written components of the projects.

Inquiries about part-time options for the program should be addressed to the Program Director.

MMF Program

Minimum Admission Requirements

  • Applicants are admitted under the General Regulations of the School of Graduate Studies. Applicants must also satisfy the graduate unit's additional admission requirements stated below.

  • Applicants must have an appropriate bachelor's degree in a quantitative, technical discipline with a minimum of a mid-B standing in the final two years.

  • Applicants who have completed their studies outside of Canada must meet the SGS minimum standards for English proficiency:

    • paper-based TOEFL exam: 580 and 4 on the Test of Written English (TWE)

    • Internet-based TOEFL exam: 93/120 and 22/30 on the writing and speaking sections

  • Applicants must also show evidence of strong mathematical ability. Appropriate workplace experience will be considered in lieu of formal education.

  • Admission to the program is competitive. Those accepted into the program will normally have achieved a standing considerably higher than the minimum mid-B standing or have demonstrated exceptional ability through appropriate workplace experience.

  • Applicants must satisfy the Admissions Committee of their ability to do rigorous quantitative analysis at an advanced level. The broad background required for this program makes it likely that many strong applicants will not possess all the background requirements. It is expected that applicants will have extra depth in certain areas and need to do additional work in others. Admission may be conditional upon the applicant's satisfactory completion of the required background material.

  • Applicants must answer three admission-related questions as part of the application; responses to all three questions should be limited to one page.

  • An interview may be required.

Completion Requirements

  • Students will be responsible for obtaining their own internship. In cases where the student is taking a leave of absence from an appropriate job, it is expected that the student will return to this job for the internship. In all cases, the Director must approve the placement.

  • Students will proceed through the program as a group, following a common course of study. The course of study will be fully integrated and computer-laboratory intensive. Course projects and assignments will be designed to integrate the material learned from a variety of the courses and to utilize it in a practical context. Excellent communication and presentation skills will be emphasized in both the oral and written components of the projects.

  • Students must successfully complete a total of 7.0 full-course equivalents (FCEs) as follows:

    • Internship (1.0 FCE). Tracked by MMF1900Y Internship, students will be responsible for obtaining their own internship. In cases where the student is taking a leave of absence from an appropriate job, it is expected that the student will return to this job for their internship. In all cases, the Director must approve the placement.

    • Coursework. MMF courses are modular, and students should refer to the course information provided in the SGS Calendar to confirm the course's credit weight.

      • Core courses (5.25 FCEs). Students must complete all courses listed below.

      • Elective courses (0.75 FCE). Students may choose to complete an emphasis to guide their course choices for the elective space.

Mode of Delivery: In person
Program Length: 3 sessions full-time (typical registration sequence: FWS)
Time Limit: 3 years full-time

 

Mathematical Finance