Trading giant Jane Street seeks to double London office footprint

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Jane Street seeks to double its office in London, where the trading company rides a period of explosive growth that it created as a competitor to the largest banks in the world.

The company was holding talks with the owners about the increase in the area of ​​London’s office to 400,000-500,000 square feet in the next few years, according to people familiar with the matter.

The New York -based group currently occupies about 235,000 square feet in Devonachire 2½ near Liverpool Street. It has already increased its area there since its transfer five years ago, as it increased the occupancy of 70 percent to take the entire building in 2022.

Earlier this year Jin Street She agreed to expand her office in New York to about 1 million square feet.

The 500,000 square feet London office will be close to the size of the new HSBC global headquarters in ST Paul – which is about 550,000 square feet – although it is now believed it is very small for the bank.

Jane Street is one of the most famous commercial companies in the world, along with other industry giants such as Susquehanna from Ken Griffin’s Citadel and Jeff Yass Susquehanna. The company manufactures markets in assets, including boxes circulating on the stock exchange, stocks and bonds; Buy and sell securities at high speeds to achieve small profits often in every trade.

The company was relatively unknown in most parts of 2010, but its revenues and profits exploded during the Covid-19 pandemic with the rise in market fluctuations and the demand for its commercial services increased.

It has achieved a net trade revenue of $ 8.4 billion in the first half of last year, equally with the largest Wall Street banks, and has expanded to more than 2,600 employees through offices including London, New York, Hong Kong and Singapore.

Citadel agreed to the hedge fund competition and its sister company, the market maker and direct competition for competition, to rent at least 250,000 square feet in SkyScraper in Finsbury Avenue at BRITISH in BroadGate when completed in 2027-which expands two-thirds of the presence of Citadel in London Longer.

Citadel has options to expand its office up to 130,000 square feet, which agents expect that they are likely to exercise.

Jane Street looked at the move to the Dovetail building, a new 23 -storey tower with a length of about 465,000 square feet of office space, which is developed for completion in 2029.

The trading company is likely to look at the previous Deutsche Bank headquarters on Wall London and other options in the city, as a person said, adding that no decision was taken.

It is scheduled to deliver a few large buildings suitable for major financial companies in the city during the coming years, due to the interruption of the new developments that started during Covid-19 and the last period of high interest rates and construction costs.

Jin Street did not respond to the comment request.