Heard on the Street: Quantitative Questions from Wall Street Job Interviews

Product Information

Even Charles Schwab, the founder of his eponymous brokerage and once a sceptic of the new breed of higher-speed, modern market-makers like Jane Street, has grown more appreciative of the role they play. Today, Jane Street’s source code is 25m lines long, about half as much as the Large Hadron Collider uses.

For a firm like Jane Street — which estimates that it accounts for almost a third of all primary and secondary trading in US bond ETFs — it was nirvana. That prowess has allowed it to reach a beachhead in corporate bond trading, where it is now going toe-to-toe with some of Wall Street’s most pedigreed businesses. The Financial Times and its journalism are subject to a self-regulation regime under the FT Editorial Code of Practice.Montpelier residents may bag up and set out fallen leaves for pick up by the Department of Public Works beginning Oct. They were still in their infancy when Jane Street was founded, but similarities to ADRs meant that moving early into ETFs represented only a modest leap. We think of ourselves as mainly built for crises,” says Rob Granieri, one of the company’s founders. Stephen Wilmot is an editor of The Wall Street Journal's Heard on the Street column, based in London. We know we are an important part of the efficiency of many of these markets, and that’s something that we feel a huge responsibility for and take very seriously,” Mr Berger says.

We focus on natural progressions of our business that are close to things that we are already doing,’ says Jeff Nanney, who leads its Asian operations © Grischa Rüschendorf/rupho.These results suggest that market liquidity conditions were resilient in the fixed income ETF market throughout the crisis. Instead, Jane Street almost resembles an anarchist commune, informally led by a group of 30 or 40 senior executives. These “ authorised participants” — like Jane Street — are the under-appreciated cogs of the industry’s machinery. When ETFs fall below the value of their assets, they instead redeem shares for a proportional slice of the underlying portfolio and then sell them. The revised 22nd edition contains 239 quantitative questions collected from actual job interviews in investment banking, investment management, and options trading.