Jane Street Expands Capacity in Singapore, Doubling Operations

Jane Street Group Expands in Singapore, Doubles Seating Capacity

Jane Street Group LLC has moved into a new office in Singapore, doubling its seating capacity to 250 people as it continues to expand its operations across Asia. The market-maker has taken up 24,000 square feet (2,230 square meters) in IOI Central Boulevard Towers, with an option to lease additional floor space.

The new office will house employees focused on trading, technology, and infrastructure. Jane Street has experienced significant growth over the past decade, breaking a Wall Street record last year by pulling in $39.6 billion of trading revenue as it navigated wild swings in markets. This has fueled the firm's expansion across the globe, including a build-out of offices across Asia.

The firm is expanding its headcount in Singapore, seeking experienced candidates to fill roles covering software, cybersecurity, and data center engineering in the city. It is also recruiting students and recent graduates as software and Linux engineers, according to job posts on its website.

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Jane Street's presence in Singapore marks an upgrade from its previous location on the fourth floor at Ocean Financial Centre, operated by a co-working space provider. IOI Central Boulevard Towers is a new office development in Singapore's central business district.

The firm now employs almost 600 people across Asia Pacific, including one of the largest teams of traders specializing in exchange-traded funds in the region. It has become one of the top market makers in Taiwan, Hong Kong, Australia, and Japan, and is pushing deeper into trading of ETFs listed in mainland China, Singapore, and South Korea.

The new office shows the firm's determination to tap opportunities in the region despite a high-profile headache in India. The country's securities regulator has accused Jane Street of market manipulation, an allegation that the firm has denied.

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Jane Street first set up in Asia with a Tokyo office in 2010. The bulk of its regional employees are now in Hong Kong. Last year, the firm paid around $9.4 billion to its staff, more than doubling its compensation costs in 12 months. This translates to almost $2.7 million per employee.