Jane Street Doubles Capacity in Singapore as Expansion Rolls On
(Bloomberg) — Jane Street Group LLC moved into a new office in Singapore this month, doubling its seating capacity to 250 people as it continues to expand its operations across Asia, a person with knowledge of the matter said.
The market maker occupies 24,000 square feet (2,230 square meters) of space at IOI Central Boulevard Towers, with the option to lease more floor space, said the person, who asked not to be identified discussing private information. The new office will house employees, including those focused on business, technology and infrastructure.
Jane Street has become a giant over the past decade, breaking a Wall Street record last year with $39.6 billion in trading revenue despite wild market fluctuations. This accelerated the firm’s global expansion, including the opening of offices across Asia.
The company is increasing its headcount in Singapore. According to job postings on its website, the city is hiring students and recent graduates as software and Linux engineers, as well as experienced candidates to fill positions spanning software, cybersecurity and data center engineering.
A representative for the New York-based firm declined to comment.
The move marks an upgrade from its previous presence in part of the fourth floor of the Ocean Financial Center, which was operated by a co-working space provider. IOI Central Boulevard Towers is a new office project in Singapore’s central business district.
Jane Street currently employs almost 600 people in Asia Pacific, including one of the largest teams of traders specializing in exchange-traded funds in the region. The company, which has become one of the largest market makers in Taiwan, Hong Kong, Australia and Japan, is further expanding its trading of ETFs listed in mainland China, Singapore and South Korea.
The larger-than-expected new Singapore office demonstrates the firm’s determination to capitalize on opportunities in the region, even after its high-profile headache in India. The country’s securities regulator accused Jane Street of market manipulation, an allegation the firm denied.
The firm was first established in Asia in 2010 with its Tokyo office. The majority of the district’s employees are currently based in Hong Kong.
It paid nearly $9.4 billion to its employees last year; This more than doubled compensation costs in 12 months. This works out to almost $2.7 million per employee.
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