Rs 30 lakh a month for an intern? India’s trading firms are in a fierce talent war
In a bid to attract the brightest minds, high-frequency trading firms in India are ramping up intern compensation to unprecedented levels. This surge in hiring is influenced by stricter regulations on derivatives and a lull in equity market movements. Companies such as Quadeye and Graviton Research Capital are notably enhancing their internship packages, with global firms following suit to secure…
India's high-frequency trading (HFT) firms are engaging in a fierce competition for quantitative talent, offering record compensation to interns. Gurgaon-based Quadeye pays interns around Rs 3 million ($31,346) monthly, a significant increase from Rs 1.6 million a year ago. Global HFT firms like Amsterdam-based IMC Trading BV and Optiver Holding BV have also raised their internship packages, with IMC offering Rs 5 million and Optiver Rs 6 million for a two-month internship.
These record bonuses come as India's derivatives market faces tighter regulations and declining trading activity, with the average daily notional turnover in futures and options listed on the National Stock Exchange hitting a 17-month low in July. Indian HFT firms are expanding into other asset classes and overseas markets, driving up demand for skilled engineers.
Recruiters say global firms are struggling to find suitable candidates, preferring to train young engineers from top engineering colleges.
Written by urgent.news from Times of India's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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