Class of 2024 at IITs sees silver lining in speed-trading firms
High-frequency trading (HFT) firms are offering a king's ransom to hire top IIT brains to help build complex algorithms, establishing themselves among the most coveted recruiters for the Class of 2024.
Firms including Quantbox Research, NK Securities Research, Da Vinci and Graviton Research Capital, which operate in the high-stakes world of algorithmic trading, will be signing on fresh IIT talent during the final placements at packages ranging anywhere from Rs 1 crore to Rs 3 crore, some of these firms told ET. Some have also made pre-placement offers.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Product ManagementVisitIIM LucknowIIML Executive Programme in FinTech, Banking & Applied Risk ManagementVisitIndian School of BusinessISB Professional Certificate in Product ManagementVisitThis comes at a time when engineering colleges are facing one of the toughest placement seasons ever, in the shadow of a tech slowdown and pullback in IT hiring. While these packages will be bagged by only a tiny fraction of the overall graduating class, the big-ticket packages are something to cheer about, say placement cells.
The outlook for HFT firms is optimistic, says Prashant Singh, managing director, Quantbox Research. «We expect that the upcoming election cycle and various geopolitical factors will contribute to increased market volatility, providing a conducive environment for HFT strategies,» said Singh.
Quantbox Research's Singh expects to hire 20-25 students from the IITs, including through the pre-placement offer route. «Consequently, we are bullish on our hiring to ensure we have the right talent to navigate and capitalise on these conditions.»
Quantbox is
