Singapore HFT quant's departure suggests crypto trading's back in style
Is crypto trading back in fashion? Perhaps, as the Bitcoin spot ETF has just been approved by the SEC. Traders from venerated TradFi institutions might be inclined to dip their toes into crypto once more, with a recent example coming from a high frequency trading quant in Singapore.
Kévin Soobraty joins crypto market maker FlowDesk as a quantitative researcher. The firm provides "market making as a service" as well as OTC trading and analytics services. Prior to FlowDesk, he spent over three years at Jump Trading as a quant risk analyst, followed by a hefty 2 year non-compete period.
Soobraty begun his career as an actuarial quant, but made a move into credit trading with BNP Paribas in Hong Kong. After two years, he joined a freshly launched Symmetry Investments, a hedge fund spun off from Millennium. He was there for three and a half years before moving to Jump Trading's Singapore office.
Soobraty appears to have joined from Jump Trading's main business, rather than its digital assets arm, Jump Crypto. That division has been under much scrutiny since its massive losses were revealed, and it's been notably absent from the list of authorized participants for the bitcoin ETF. Rival firms Jane Street and Virtu Financial, contrarily, were on it.
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