Jane Street Capital

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search
Jane Street Capital
IndustryFinancial services
FoundedAugust 31, 1999; 22 years ago (1999-08-31)[1]
Headquarters
ProductsHigh-frequency trading, Market maker[2]
Number of employees
~1,900
Websitewww.janestreet.com

Jane Street Capital, typically referred to as Jane Street, is a global proprietary trading firm[3] with around 1,200 employees.[4] The company is one of the world’s largest market-makers, trading more than $17 trillion worth of securities in 2020. It was considered to have helped keep bond ETFs liquid during the market turmoil in 2020.[5]

Founding[edit]

Jane Street was co-founded by Tim Reynolds and three others.[6] Jane Street's website says the firm was founded in 2000.[3] However, Reynolds reports it to have been founded in 1999, although the date varies between sources.[1][6][7]

Technology[edit]

Jane Street is, as of 2014, one of only a few hundred businesses (across all sectors) that use the OCaml programming language.[8] 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 that "OCaml helps us to quickly adapt to changing market conditions, and go from prototypes to production systems with less effort".[8] 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".[9] Jane Street also takes advantage of programmable hardware like FPGAs to implement some of the logic.[10]

Jane Street has released some open source code on GitHub that includes their versions of standard OCaml libraries.[11]

In July 2020, S&P Global Ratings affirmed Jane Street on capital growth. The rating agency noted that Jane Street is a "highly profitable trading business," that "the company has generated very strong earnings so far in 2020 and that its trading has benefited from the market volatility related to the COVID-19 pandemic."[12]

References[edit]

  1. ^ a b "JANE STREET CAPITAL, LLC :: Delaware (US) :: OpenCorporates". opencorporates.com.
  2. ^ Patterson, Scott; Rogow, Geoffrey (August 1, 2009). "What's Behind High-Frequency Trading". The Wall Street Journal.
  3. ^ a b "Our Story". Jane Street Capital. Retrieved August 1, 2014.
  4. ^ "What We Do :: Jane Street". www.janestreet.com. Retrieved 2018-08-08.
  5. ^ Wigglesworth, Robin (28 January 2021). "Jane Street: the top Wall Street firm 'no one's heard of'". Financial Times. Retrieved 29 January 2021.
  6. ^ a b "Jane Street's Reynolds Turns to Art With Trading Fortune". 14 June 2019 – via www.bloomberg.com.
  7. ^ "Jane Street Capital, LLC: Private Company Information". www.bloomberg.com.
  8. ^ a b "Companies using OCaml". OCaml.org. Retrieved 17 August 2014.
  9. ^ James Somers (April 2, 2015). "Toolkits for the Mind". MIT Technology Review.
  10. ^ "OCaml All the Way Down – How Jane Street Builds FPGA designs". Jane Street. 2018-04-18. Retrieved 2021-02-05.
  11. ^ "Open Source @ Jane Street". Jane Street Capital. Retrieved August 1, 2014.
  12. ^ "S&P affirms Jane Street Group on capital growth". www.spglobal.com. Retrieved 2020-09-01.

External links[edit]