A quant trading firm paying £806k in London works from a 'flexible workspace'
Quant trading firms like Jane Street tend to take a meticulous approach to how they set up their offices but, when setting up a small office in a new country, some firms don't have that luxury. Five Rings, a New York trading firm known for its excellent pay, made a curious move into a new office in London last month.
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Five Rings now works from Storey, a flexible working space at 201 Bishopsgate. It works in two units totalling just over 7,000 square feet. If we use Jane Street's Hong Kong office as a benchmark (46,000 square feet housing 400 employees prior to its expansion), Five Rings' new office could comfortably fit over 60 employees. The firm had just 21 employees in its 2024 annual report via Companies House, implying that it might triple in size. It's unclear whether those units are privately operated by the firm, however.
Five Rings continuing its expansion is interesting given the London office's lacklustre results last year. Five Rings made a $11m loss last year, worsened by the £806k ($1.09m) average pay for its employees that year.
Five Rings is currently recruiting for its 2026 cohort of graduates and interns, as well as a Linux technician in its "growing" systems administration team, who are tasked with setting up and optimizing the firm's trading floor.
Five Rings did not respond to a request for comment.
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