Industry ETF trading Founder Tim Reynolds Number of employees 500 | Website www.janestreet.com Founded 31 August 1999 Parent organization Jane Street Group, LLC | |
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Jane Street Capital, typically referred to as Jane Street, is a global proprietary trading firm that operates in New York City, London, and Hong Kong with around 500 employees.
Contents
Founding
Jane Street was co-founded by Tim Reynolds and three others.
Jane Street's website claims the firm was founded in 2000. However, Reynolds reports it to have been founded in 1999. Bloomberg variously gives the founding date as 1999 or 2000. The Delaware Department of State: Division of Corporations gives the incorporation date as 31 August 1999.
Trading
Jane Street is active in markets in New York City, London, and Hong Kong. It may trade about $8 billion of equities worldwide and conduct about a million trades per day. As of April 2015, it claimed to be responsible for 2% of daily equity trading volume in the United States. Jane Street specializes in exchange-traded funds (ETFs); they quote more than 2,000 ETFs in real time.
Technology
Jane Street is, as of 2014, one of only a few hundred businesses (across all sectors) that use the OCaml programming language. It adopted OCaml as its main programming language early on because the language's functional programming style and clear expressiveness made it possible for code reviews to be performed by traders who were not programmers, to verify that high-performance code would do what it was intended to do. Jane Street has stated OCaml's advantages thusly: “OCaml helps us to quickly adapt to changing market conditions, and go from prototypes to production systems with less effort...Billions of dollars of transactions flow through our systems every day, so getting it right matters”. Furthermore, OCaml's "rigor is like catnip to some people,... giving Jane Street an unusual advantage in the tight hiring market for programmers" that allows Jane Street to "lure a steady supply of high-quality candidates".
Jane Street has released some open source code on GitHub that includes their versions of standard OCaml libraries.
Culture
A number of people involved with the effective altruism movement have recommended Jane Street Capital as a place to work at for people considering earning to give, and some of the full-time employees as well as interns have been from the effective altruist community. In September 2012, Tim Reynolds, one of Jane Street's co-founders, stepped down from the job to redirect his energies towards the philanthropic pursuit of teaching poor students to master photorealistic painting.
There is also a culture of "competitive intelligence", and sometimes employees play four-player chess on breaks.