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NDTV
a day ago
- Business
- NDTV
Global Trading Giants Step Up India Presence, Fuelling Hiring Spree: Report
Mumbai: Half a dozen global trading giants, from Citadel Securities and IMC Trading to Millennium and Optiver, are ratcheting up their presence in India's booming derivatives markets, fuelling a hiring spree and pushing exchanges to improve technology. The firms' hiring plans, being reported for the first time, come amid expectations that large domestic consumer and investor bases will help shield India from global turmoil sparked by the trade policies of US President Donald Trump. The South Asian nation made up nearly 60% of global equity derivative trading volumes of 7.3 billion in April, the Futures Industry Association says, while its regulators say notional turnover of the contracts has grown 48 times since March 2018. For Western firms, the gold rush is too big to ignore, particularly after US trading firm Jane Street earned $2.34 billion from its India trading strategy last year, some of the firms' executives said. "We have seen competition increasing both on the trading front, where you see more players going for the same opportunities, and on the job market as well," said Jocelyn Dentand of global high-speed trader IMC Trading. The firm plans to grow its team by more than 50% by the end of 2026 to stand at more than 150, added Dentand, the managing director of its India unit. Foreign investors turned buyers of Indian stocks in April and May, purchasing a net $2.8 billion, as they abandoned their previous selling stance from October 2024 to March 2025, prompted by high valuations and slower growth in earnings. US-based Citadel Securities, a market-making firm founded by well-known investor Kenneth Griffin, runs a leaner team of around 10 in India but has ramped up capital allocation to its operations, said a source familiar with its plans. "In India, we're constantly looking for talent and constantly hiring," said the source, who sought anonymity in the absence of authorisation to speak to the media and declined to give details of the plan. Hedge fund Millennium is expanding its India desk via Dubai and Singapore, said a source with direct knowledge of the matter, who also sought anonymity on the same grounds. Millennium declined to comment for the story. Citadel Securities did not respond to an email seeking comment. Netherlands-based Optiver, which launched India operations in 2024, plans to grow its team to 100 by the end of 2025, a spokesperson said, up from 70 now. "Optiver is investing ambitiously in India, with a view to expanding to 100 FTEs by year-end and scaling further in the years ahead," the spokesperson added. Amsterdam-based trading firm Da Vinci and London-based Qube Research and Technologies are also recruiting for quantitative trading roles in India, public postings for jobs show. Rush For Tech, Talent Global trading firms are also looking to expand in India by recruiting aggressively from top domestic universities and poaching from home-grown competitors. They have hired about 300 people in India in the last two years across the trading, technology, compliance, risk, and legal functions, Hong Kong-based recruiter Aquis Search estimates. "We foresee a good run for the next few years," said Annpurna Bist, its head of quant and tech. Intensifying competition has driven up salaries, with even junior traders paid more than double the figure of three years ago, said Bhautik Ambani, head of AlphaGrep Investment Management, one of India's leading quant trading firms. India's top engineering schools have become the favoured hunting grounds for talent. "We almost solely hire our traders and software engineers from Indian Institutes of Technology (IITs)," said IMC's Dentand, referring to the country's chain of prestigious engineering schools. But hiring efforts are now being widened to the universities beyond the IITs, Dentand said. The influx of global trading firms has opened up opportunities for India's two main exchanges, which are both upgrading their tech infrastructure. The National Stock Exchange of India (NSE) plans to add 2,000 co-location racks over the next two years, while the older stalwart, the Bombay Stock Exchange (BSE), aims to scale up to 500 by the end of fiscal 2026, from none in March 2024. Such racks are servers at exchanges that cut trade execution times to microseconds. "We are a late entrant and need to provide additional value for the unfulfilled demand from high-frequency trading firms and quant firms, amongst others, for co-location racks," said BSE Chief Executive Sundararaman Ramamurthy. The exchange has spent between 4.5 billion rupees and 5 billion rupees ($52 million to $58 million) on technology in the last two years, he said. The NSE and regulator the Securities and Exchange Board of India (SEBI) did not respond to queries for the report.
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Business Standard
a day ago
- Business
- Business Standard
Global trading giants expand in India, driving talent rush, upgrades
Half a dozen global trading giants, from Citadel Securities and IMC Trading to Millennium and Optiver, are ratcheting up their presence in India's booming derivatives markets, fuelling a hiring spree and pushing exchanges to improve technology. The firms' hiring plans, being reported for the first time, come amid expectations that large domestic consumer and investor bases will help shield India from global turmoil sparked by the trade policies of US President Donald Trump. The South Asian nation made up nearly 60 per cent of global equity derivative trading volumes of 7.3 billion in April, the Futures Industry Association says, while its regulators say notional turnover of the contracts has grown 48 times since March 2018. For Western firms, the gold rush is too big to ignore, particularly after US trading firm Jane Street earned $2.34 billion from its India trading strategy last year, some of the firms' executives said. "We have seen competition increasing both on the trading front, where you see more players going for the same opportunities, and on the job market as well," said Jocelyn Dentand of global high-speed trader IMC Trading. The firm plans to grow its team by more than 50 per cent by the end of 2026 to stand at more than 150, added Dentand, the managing director of its India unit. Foreign investors turned buyers of Indian stocks in April and May, purchasing a net $2.8 billion, as they abandoned their previous selling stance from October 2024 to March 2025, prompted by high valuations and slower growth in earnings. US-based Citadel Securities, a market-making firm founded by well known investor Kenneth Griffin, runs a leaner team of around 10 in India but has ramped up capital allocation to its operations, said a source familiar with its plans. "In India, we're constantly looking for talent and constantly hiring," said the source, who sought anonymity in the absence of authorisation to speak to the media and declined to give details of the plan. Hedge fund Millennium is expanding its India desk via Dubai and Singapore, said a source with direct knowledge of the matter, who also sought anonymity on the same grounds. Millennium declined to comment for the story. Citadel Securities did not respond to an email seeking comment. Netherlands-based Optiver, which launched India operations in 2024, plans to grow its team to 100 by the end of 2025, a spokesperson said, up from 70 now. "Optiver is investing ambitiously in India, with a view to expanding to 100 FTEs by year-end and scaling further in the years ahead," the spokesperson added. Amsterdam-based trading firm Da Vinci and London-based Qube Research and Technologies are also recruiting for quantitative trading roles in India, public postings for jobs show. Rush for tech, talent Global trading firms are also looking to expand in India by recruiting aggressively from top domestic universities and poaching from home-grown competitors. They have hired about 300 people in India in the last two years across the trading, technology, compliance, risk, and legal functions, Hong Kong-based recruiter Aquis Search estimates. "We foresee a good run for the next few years," said Annpurna Bist, its head of quant and tech. Intensifying competition has driven up salaries, with even junior traders paid more than double the figure of three years ago, said Bhautik Ambani, head of AlphaGrep Investment Management, one of India's leading quant trading firms. India's top engineering schools have become the favoured hunting grounds for talent. "We almost solely hire our traders and software engineers from Indian Institutes of Technology (IITs)," said IMC's Dentand, referring to the country's chain of prestigious engineering schools. But hiring efforts are now being widened to the universities beyond the IITs, Dentand said. The influx of global trading firms has opened up opportunities for India's two main exchanges, which are both upgrading their tech infrastructure. The National Stock Exchange of India (NSE) plans to add 2,000 co-location racks over the next two years while older stalwart the Bombay Stock Exchange (BSE) aims to scale up to 500 by the end of fiscal 2026, from none in March 2024. Such racks are servers at exchanges that cut trade execution times to microseconds. "We are a late entrant and need to provide additional value for the unfulfilled demand from high-frequency trading firms and quant firms, amongst others, for co-location racks," said BSE Chief Executive Sundararaman Ramamurthy. The exchange has spent between 4.5 billion rupees and 5 billion rupees ($52 million to $58 million) on technology in the last two years, he said. The NSE and regulator the Securities and Exchange Board of India (Sebi) did not respond to queries for the report. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Wire
3 days ago
- Business
- Business Wire
Circus SE wins HEM fuel stations as customer for its autonomous AI-robotics in food service
MUNICH--(BUSINESS WIRE)--Circus SE (XETRA: CA1), a global leader in AI software and robotics for the food service industry, has secured Deutsche Tamoil and its fuel station brand HEM as a new customer. Together, they are planning for the deployment of the AI-powered cooking robot, the Circus Autonomy One (CA-1). With this move, HEM is setting a forward-looking milestone: in the future, freshly prepared meals will be created fully autonomously through an integrated robotics solution within the service station. This will, for the first time, enable real-world insights into scalability and customer experience. 'We are absolutely delighted to bring the CA-1 robot into the heart of mobility – the dense network of gas and charging stations across Germany,' says Nikolas Bullwinkel, CEO of Circus SE. 'This is a major opportunity to make high-quality meals available everywhere and in the shortest time – precisely where people are on the move.' 'At HEM, we are always looking for innovative solutions to offer our customers genuine added value,' says Carsten Pohl, Managing Director of Deutsche Tamoil GmbH. 'The CA-1 allows us to implement a truly unique and innovative food offering at our stations. We look forward to taking this step into the future together – and are excited for the rollout later this year.' In addition to the CA-1 robot, the full Circus AI-software will be deployed — including a cloud-based point-of-sale system, real-time production control, user-friendly ordering terminals, and data-based performance monitoring — ensuring consistently high-quality meals, anytime and anywhere. About Circus SE Circus SE (XETRA: CA1) is a global AI and robotics company developing autonomous systems for food supply in both civilian and defense sectors. Its flagship robot, the patented CA-1, is the world's first fully autonomous food production robot, now in serial production. Powered by proprietary embodied AI, Circus delivers industrial-scale, high-reliability meal output with minimal human input. Headquartered in Munich, the company is building the global infrastructure for autonomous food supply — on a mission to fuel humanity. About HEM and Tamoil Deutsche Tamoil GmbH, headquartered in Hamburg, is part of the Netherlands-based Oilinvest Group, which operates approximately 2,450 fuel stations and owns a refinery in Hamburg. With over 400 HEM stations in Germany, the company focuses not only on fuel sales but also actively invests in digital services and alternative energy sources to drive forward modern mobility solutions. Thanks to lean structures and efficient cost management, HEM is often able to offer fuel at lower prices than major competitors. For more information, visit or follow HEM on Facebook and Instagram.
Time of India
4 days ago
- Business
- Time of India
Cheers from Heineken: Netherlands-based brewer picks Hyderabad for Asia-Pacific's first GCC; to invest Rs 2,500-3,000 crore, hire up to 3,000 techies
HYDERABAD: Netherlands-based brewer Heineken NV is the latest to join the list of global giants to say cheers to Hyderabad. One of the world's largest beer makers, Heineken plans to invest Rs 2,500 crore to Rs 3,000 crore over the next few years in setting up its first GCC in the Asia Pacific region in Hyderabad. The Euro 36 billion Dutch giant is all set to establish its GCC, Heineken Business Services India, in Hyderabad by the end of 2025 with plans to hire around 2,500-3,000 techies over the next five years, sources aware of the development told TOI. The Hyderabad GCC will focus on technology development, including emerging technologies such as AI, and shared business services such as finance and HR, sources said. Confirming the investment figures, Heineken told TOI that it is scouting for space in Hyderabad and will be hiring for the "usual GCC roles". "Heineken Business Services India is an addition to our existing global network of connected hubs that will provide essential services and capabilities to operating companies within Heineken," the company had said in a brief global announcement recently. "The business services network plays an important part in Heineken's Evergreen strategy. The expansion showcases Heineken's continued investment in the optimal organisation to support long-term sustainable growth and maintain competitiveness," the announcement said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo GCC likely to come up at Hitec City The GCC is expected to come up in Hyderabad's IT Hub of Hitec City, real estate sources said. Most of the premium office space in Hitech City are all sold out but the company could be looking at a couple of projects that might still have some room to house the GCC. The decision to set up the GCC comes even as Heineken, which owns over 61.5% stake in United Breweries, already manufactures the Heineken brand through UBL breweries in the country.
Yahoo
13-06-2025
- Business
- Yahoo
German watchdog blocks Tönnies takeover of Vion meat assets
Germany's competition authority has blocked the acquisition by local meat processor Tönnies of a number of plant assets in the country owned by Netherlands-based peer Vion. Of particular concern are the Vion slaughterhouses in Buchloe, Crailsheim and Waldkraiburg, the Bundeskartellamt said in a statement yesterday (12 June). Andreas Mundt, the president of the Bundeskartellamt anti-trust body said: "The takeover of Vion's facilities raised competition concerns as it would have strengthened Tönnies' market position to the detriment of the farmers and smaller competitors remaining in the regions affected. In addition to its already dominant position in the pig slaughtering and processing industry in Germany, Tönnies would also have gained a leading position in the slaughter and processing of cattle. "The takeover would reduce options for producers and customers to switch to alternative companies, thus expanding the Tönnies Group's market position and scope of action. It would also have brought disadvantages to buyers of slaughter products throughout Germany.' Vion began a round of meat-asset closures in Germany in 2023 and later announced a plan to exit the market completely. It formed an agreement in January last year with Tönnies for two of its plants followed by more in September of that year. The planned disposals included slaughterhouses in Buchloe, Crailsheim, and Waldkraiburg, along with a deboning facility in Hilden, and two hide-processing plants in Memmingen and Eching-Weixerau. In reaction to the Bundeskartellamt, a Tönnies spokesperson said in a statement sent to Just Food: 'We are deeply disappointed by this decision.' The company added it is 'reviewing' the authority's reasoning and 'will then decide on possible legal remedies". Providing further details on its decision, the Bundeskartellamt said it had asked for feedback from competitors and meat customers in Germany, and had "reached the conclusion that the merger would result in the creation or strengthening of a dominant position for Tönnies in several regional slaughter markets in southern and eastern Germany". It added that Vion was the 'market leader' in cattle slaughtering in southern Germany. Post-acquisition, Tönnies would hold over 40% market share in the Buchloe, Waldkraiburg and Kempten catchment areas, 'far exceeding' smaller competitors. The merger would also strengthen Tönnies' dominance in pig slaughtering in the Weißenfels area by adding Crailsheim, whose catchment area overlaps, the regulator added. In March, Bundeskartellamt said it sent a statement of objections to Tönnies and Vion outlining the competition concerns. Then in April, the companies proposed divestment and leasing of facilities to designated acquirers to address concerns, the regulator added. However, it rejected those commitments as 'not capable' of preventing Tönnies' dominance. The decision announced yesterday is not final and can be appealed to the Düsseldorf Higher Regional Court, Bundeskartellamt said. "German watchdog blocks Tönnies takeover of Vion meat assets" was originally created and published by Just Food, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
