Brokers providing high-speed trading services such as Estee Advisors and iRage Broking Services LLP say that while these recent events have made some potential clients cautious, there is still a steady pipeline of companies looking to enter this segment.
Bengaluru-based Optimus Prime Securities & Research has scaled up its HFT operations recently, according to people familiar with the matter. The Bilakhia Group, which has business interests in healthcare and education technology, is also planning to expand into such trades with Minix Holdings, one of the people said.
Quadeye and IMC declined to comment for this story. Optimus and Minix didn’t respond to emails seeking comments.
Meanwhile, billionaire Ken Griffin’s Citadel Securities hired an options trader in India last month and plans to add more staff to bolster its operations, Bloomberg reported. The Miami-based firm opened its office in Gurugram in 2022 and has more than a dozen employees there after hiring a chief operating officer and head of trading this year. Citadel and trading firm Tower Research are also buying minority stakes in India’s National Commodity & Derivatives Exchange Ltd.
“We’re still seeing very robust interest, frankly, with some of the issues with Jane Street being clarified, the interest is only going to grow,” said Sandeep Tyagi, founder of Estee Advisors, citing interactions with clients.
