Key Takeaways
- • Databento received approximately 2,000 applications for 20 vacancies, targeting quantitative professionals from hedge funds and proprietary trading firms, according to a report by eFinancialCareers.
- • Founder and CEO Christina Qi advertised the roles during last week's hedge fund market turmoil, specifically encouraging applications from employees of multistrategy hedge funds.
- • Diverging employment prospects in quant trading: several hedge funds have cut investment teams and allocations after market losses, while electronic market makers Jane Street and Citadel Securities have shown greater resilience.
- • Databento, founded in 2020 and providing market data infrastructure, raised $97m in Series B financing in July to support expansion.
- • Qi described the volume of applications as relatively typical given current conditions, following an earlier round that drew approximately 20,000 applications for five positions.
Summary
Market data infrastructure provider Databento has received approximately 2,000 applications for 20 vacancies, a response that highlights intense competition for quantitative roles following recent market volatility, according to a report by eFinancialCareers. The company targeted professionals from hedge funds and proprietary trading firms when it advertised the positions during last week's hedge fund market turmoil, specifically encouraging applications from employees of multistrategy hedge funds.
Christina Qi, founder and chief executive of Databento, said applications came predominantly from hedge funds and proprietary trading firms, with additional candidates from investment banks, fintech companies, cryptocurrency businesses and independent trading operations. Despite the volume, Qi described the response as relatively typical given current employment market conditions. The company offers remote and flexible working arrangements and already employs former professionals from Citadel, Two Sigma, Tower Research, Flow Traders and Susquehanna International Group.
The recruitment drive takes place against a difficult backdrop for parts of the hedge fund industry, where market losses have prompted several managers to reduce investment teams and capital allocations. By contrast, electronic market makers including Jane Street and Citadel Securities have demonstrated greater resilience, contributing to diverging employment prospects across the quantitative trading sector.
Databento, founded in 2020, raised $97m in Series B financing in July to support its expansion. The latest figures follow an earlier hiring round in which the firm received approximately 20,000 applications for five positions, underscoring sustained competition for roles in financial technology and quantitative trading.
Christina Qi, founder and chief executive of Databento, said applications came predominantly from hedge funds and proprietary trading firms, with additional candidates from investment banks, fintech companies, cryptocurrency businesses and independent trading operations. Despite the volume, Qi described the response as relatively typical given current employment market conditions. The company offers remote and flexible working arrangements and already employs former professionals from Citadel, Two Sigma, Tower Research, Flow Traders and Susquehanna International Group.
The recruitment drive takes place against a difficult backdrop for parts of the hedge fund industry, where market losses have prompted several managers to reduce investment teams and capital allocations. By contrast, electronic market makers including Jane Street and Citadel Securities have demonstrated greater resilience, contributing to diverging employment prospects across the quantitative trading sector.
Databento, founded in 2020, raised $97m in Series B financing in July to support its expansion. The latest figures follow an earlier hiring round in which the firm received approximately 20,000 applications for five positions, underscoring sustained competition for roles in financial technology and quantitative trading.
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