Three more world-leading universities join Martingale’s mission to broaden access to postgraduate research
Martingale Foundation is today announcing a major expansion of its university partnerships. The expansion, made possible by the ongoing support of founding donor XTX Markets, will enable Martingale to reach more regions of the UK.
Martingale provides fully-funded masters and PhD STEM scholarships to talented students from low-socioeconomic backgrounds. This autumn, we will welcome three more leading universities into their partnership network from around the UK.
The new partnerships will be with the mathematics departments at the University of Glasgow, the University of Warwick and the University of York. All three universities have world-leading reputations for maths research and ranked highly in the 2021 Research Excellence Framework. Not only do they have strong track records of supporting talented researchers and nurturing excellence but they also showed a strong commitment to advancing Martingale’s mission.
Working together with its partners, Martingale is on a mission to break down the financial and social barriers that are preventing many talented students from pursuing postgraduate research. According to the Institute for Fiscal Studies, students from low-socioeconomic backgrounds are up to eight times less likely to pursue masters degrees and fifteen times less likely to pursue a PhD[1].
Accessing postgraduate research has become increasingly difficult for those without the financial support. A combination of rising living costs and increasing tuition fees mean the cost is prohibitive to many, with the average cost of a one year masters degree rising £2,000 in three years to £12,700[2]. Earlier this month, the Russell Group issued an urgent call to action for all parts of the higher education sector, to do more to broaden postgraduate participation[3].
Professor Kathryn Hess Bellwald, Chair of the Martingale Foundation Advisory Board, commented: “We’re very excited to announce our new partnerships with the University of Glasgow, the University of Warwick and the University of York today.
Martingale is committed to identifying and supporting academic excellence and our new partnerships reflect this. Each institution has a strong reputation for mathematics research and academic excellence. This, alongside the extra-curricular support they provide to postgraduate students, means we know they will be able to support Martingale Scholars to thrive.
At Martingale we believe that while talent is everywhere, opportunity is not. Working with our new partners will enable us to provide postgraduate opportunities to even more of the most talented students around the UK and significantly grow the Martingale community.”
Professor Nigel Mottram, Head of the University of Glasgow’s School of Mathematics and Statistics, said: “We’re pleased and proud to be partnering with Martingale Foundation to create new postgraduate opportunities for students, from an even wider range of backgrounds, in the years to come.
The University has a longstanding commitment to expanding access to higher education and enabling talented students from all walks of life to reach their full potential. This new partnership will empower more students to access our highly ranked mathematics MSc and PhD programmes, and to help us achieve our goal of transforming lives through ideas and action, grounded in world-leading research, teaching and innovation.”
Professor James Robinson, Head of Maths at the University of Warwick, commented: “We are delighted to be joining the UK network of universities benefiting from Martingale Foundation’s important programme. At Warwick, we are committed to nurturing the next generation of research mathematicians, and this partnership will enable us to attract and support outstanding PhD and MSc students, regardless of their financial background.”
Professor Martin Bees, Head of the Department of Mathematics at the University of York, said: “We are delighted to be partnering with Martingale Foundation to open up opportunities for postgraduate students to study Mathematics at York. Like Martingale Foundation, we believe that family income should not be a barrier to the pursuit of excellence. York has a long tradition of championing opportunity for all, and to building a diverse research community where everyone can thrive. We look forward to working with Martingale Foundation and to welcoming our first cohort of scholars to York.”
In August, Martingale, working together with all its university partners, will launch a nationwide recruitment campaign for its next cohort of masters and PhD scholars. Applications will open on 12 August for Martingale PhD and Masters Scholarships in maths and AI – for courses starting at Martingale’s partner universities in 2027. Applications are open to all talented STEM students from low-socioeconomic backgrounds, with a passion for research.
More details about this year’s scholar recruitment campaign and Martingale Scholarships, can be found on the Martingale website: www.martingale.foundation
Ends
Notes to editors:
The full list of Martingale university partners:
- Imperial College London
- King’s College London
- Queen Mary University
- The University of Birmingham
- The University of Bristol
- The University of Cambridge
- The University of Edinburgh
- The University of Glasgow
- The University of Manchester
- The University of Oxford
- The University of Warwick
- The University of York
- University College London
For further details please contact the Martingale Communications Manager: [email protected].
About Martingale Foundation
Martingale Foundation was founded with the belief that family income should never be a barrier to academic excellence, and partners with leading UK universities to provide fully-funded masters and maths PhD Scholarships to talented students from low-socioeconomic backgrounds. Martingale Foundation is made possible by founding donor XTX Markets and is incubated by Purposeful Ventures, a non-profit organisation working towards a fairer society where all young people thrive.
About XTX Markets
XTX Markets is a leading algorithmic trading firm which uses state-of-the-art machine learning technology to produce price forecasts for over 53,000 financial instruments across equities, fixed income, currencies, commodities and crypto.
Since 2020, XTX Markets has committed over £400 million to charities and non-profit partners, establishing the firm as a major philanthropic donor in the UK and globally. The firm’s philanthropy focuses on advancing mathematics education and research, having committed over £90 million in grants to UK charities and education institutions, with the aim of supporting more students to progress to degrees, PhDs and highly-skilled careers in maths, especially those from low-income backgrounds. XTX Markets has also committed more than £25 million to support elite mathematics talent worldwide.
About the University of Glasgow
The University of Glasgow has been changing the world since 1451. With 7 January 2026 marking 575 years since our founding, this landmark year will reflect on centuries of impact locally, nationally, and internationally, celebrating the achievements that inspire future world-changers to deliver the breakthroughs of tomorrow.
Our people have always been at the forefront of innovation, including eight Nobel Laureates, two UK Prime Ministers, three First Ministers of Scotland, 10 Fellows of the Royal Society and 11 Fellows of the British Academy.
Our past achievements inspire our current world changers. As a globally connected university, we work in partnership with others across the world to advance global solutions to real world problems. We are proud to be a founding member of the university networks Universitas 21 and The Guild of European Research Intensive Universities.
About the University of Warwick
Founded in 1965, the University of Warwick is a world-leading institution known for its commitment to era-defining innovation across research and education. A connected ecosystem of staff, students and alumni, the University fosters transformative learning, interdisciplinary collaboration and bold industry partnerships across state-of-the-art facilities in the UK and global satellite hubs. Here, spirited thinkers push boundaries, experiment and challenge convention to create a better world.
About the University of York
A member of the Russell Group and one of just four UK universities rated both gold for teaching and top 10 for research, the University of York combines academic excellence with social purpose.
York exists as a University for Public Good, built on founding values of excellence, equality and opportunity for all. The University’s award-winning community ethos, diverse representation and strong research culture creates a sense of belonging for more than 20,000 students and 5,000 staff.
[1]Institute for Fiscal Studies (2020), Family background and access to postgraduate degrees
[2] The Times (2025), Cost of a master’s degree soars: even student loans won’t cover it
[3] https://www.russellgroup.ac.uk/policy/policy-briefings/extending-opportunity