XTX MARKETS

Welcome to
XTX markets

We are a leading algorithmic trading firm which seeks to automate all aspects of our business.

Our mission is to be the leading financial technology firm for fair and efficient markets.

We partner with institutional clients, counterparties and trading venues globally to deliver liquidity in the Equity, FX, Fixed Income, and Commodity markets.

We do not offer products/services to retail investor clients. 

  • Team of 170+ people / 26 languages spoken
  • Top 3 FX liquidity provider for e-Spot/Forwards (Euromoney 2016-2022)
  • Over 18% pan-European lit cash equities market share (Cboe website/XTX own figures FY2021)
  • Largest European ELP Systematic Internaliser by volume (Rosenblatt - FY 2020 & 2021)
  • Offices in London / New York / Singapore / Paris / Mumbai

innovation-driven
algorithmic trading firm

190
Petabytes
of usable storage 
4
Petabytes
of RAM 
10000
Top-end GPU's
in our research cluster 
5.42
Megawatts
of renewably sourced power 
295
Billion USD
Daily trading volume 

At XTX Markets we leverage the talent of the people who work here, modern computational techniques and state-of-the-art research infrastructure to analyse large data sets across markets quickly and efficiently, to maximise the effectiveness of our proprietary trading algorithms.

We are a small organisation with a collegial environment and culture where everyone is valued and is treated as an individual, enabling us to be more agile than our competitors.  

XTX MARKETS

Working at XTX

We rely on bright, inquiring minds to keep us at the forefront of our industry.

We have a flat structure and all ideas are evaluated and, if workable, are prioritised and supported for implementation. Anyone can question or opine on new ideas with the CEO's, or anyone else within the firm. Every day there is something new happening and a fresh challenge to overcome.

We reward creativity, we strive for a culture of collaborative energy and understand the importance of downtime. We have a great working environment with awesome facilities like gyms, bars, kitchens and games rooms.

It’s cutting-edge work in a fast-paced world and it can be challenging, but if you’re capable and motivated, then we would love to hear from you.

Our teams

The quant research team is responsible for the design and estimation of the statistical models behind all of our trading.

This is a very challenging task due to the highly competitive and continuously changing nature of financial markets.

The data we use consist of trillions of noisy observations. To make sense of it, we deploy state of the art machine learning techniques and have at our disposal a large cluster of computational resources.

My favourite aspects of the job are the technical challenges it presents, the opportunities it offers to keep learning, and how collegiate and collaborative the team is.

Dmitry
Quant Research

Our team works closely with the quant team to take models from a MATLAB prototype to trading tens of thousands of instruments on nearly a hundred exchanges around the world. We’re a small, close-knit team and we cover the entire tick-to-trade flow, from processing incoming market data to evaluating trading signals to submitting orders.

Our systems have to be able to process an incredible amount of incoming data in real-time without queueing, with market data from major exchanges frequently amounting to tens of gigabits per second. No technology is off-limits to us, we’ll use whatever is the best tool for the job, although our favourite languages are C++ and Python.

James
Exchange Trading Development

The OTC trading development team builds XTX's client-facing/OTC platforms. Our OTC market-making system offers continuous liquidity across multiple asset classes and thousands of instruments. It speaks around a hundred market data and trading protocols. We also build a range of in-house systems for real-time performance monitoring and analysis of XTX's trading activity, which generates millions of events per second.

Our team is drawn from a range of financial and non-financial backgrounds. We specialise in building high performance, highly available distributed systems. We are given a high degree of autonomy to meet requirements with the software and hardware that we see fit.

Paul
OTC Trading Development

Our team is responsible for the Core Technology platform, supporting all aspects of the firm’s post-trade activities and primarily developed in Go. We maintain highly-available real-time systems and a host of tools, jobs, services and GUIs to enable us to operate effectively in a highly automated way. The broad range of functions we support means we collaborate with almost every department in the firm.

What I value most about working at XTX is the firm’s commitment to quality software engineering. We look to build solutions that stand the test of time and scale with the needs of the business.

Richard
Core Development

The infrastructure group builds, looks after and improves three types of technology infrastructure. We need our general office and datacentre environment to always work and scale with our rapid growth. Our trading colocations are expressions of precise and deterministic computational performance. Our research cluster has doubled in size every year, and achieves unbridled storage and compute width.

Our group consists of experts in linux, storage, network, windows, database, technologies and procurement, and given the scale of what we manage, we rigorously automate and solve our problems with code. Even with 25 years’ experience in computational finance, at XTX I learn new technologies directly or from my colleagues every single day I work.

Oli
Infrastructure

The distribution team is responsible for building and maintaining institutional client relationships at the firm. We work with a number of different client types (hedge funds, real money managers, regional banks and retail aggregators) across a number of different asset classes (FX, metals and cash equities).

I enjoy the role as each client’s needs are unique and we explain not just what the firm can deliver for them in terms of XTX‘s market leading liquidity but also how market microstructure works, how to better manage their liquidity, how regulations are evolving and how using data analytics can help them to lower their cost of execution.

I also really enjoy working closely with the trading analyst and quant teams to help solve any client queries.

Kristen
Distribution

The onboarding team works with external clients, platforms and vendors on integration to facilitate trading of our OTC products.

Dealing with technical integrations, while working closely with external clients, has always ticked the boxes for me personally, and it’s great to go home at the end of the day knowing that we have delivered solutions to our business and clients.

Every day is different and although there are never enough hours in the day, I’m one of those people who enjoy working in a busy and productive environment. The firm is highly collaborative and the hierarchy and bureaucracy that can hinder other companies is non-existent, meaning that I am trusted to do my best and to enact change and progress. I have never been as productive as I am here and I put this down to being given the responsibility and environment in which I can flourish.

Christine
Client Onboarding

The operations team supports our cross-asset operations, reconciling and checking that the millions of trades we transact are accounted for and confirmed with all of our counterparties on a real-time basis. The team also ensures our risk exposures and positions with each of our counterparties are being managed correctly. We have developed robust, scalable solutions and are constantly improving our efficiency as a result, whilst maintaining absolute accuracy with our data and reporting.

It is challenging work in a fast-paced environment, where no two days are ever the same and, for me, this is what it’s all about. I enjoy seeing processes I have refined being implemented and seeing the immediate results.

Sherine
Operations

The Legal Department is responsible for managing and mitigating XTX’s legal risk and is closely integrated with the business. We have a very diverse range of work and responsibilities including documenting agreements with all external counterparties, overseeing the governance and management of all XTX group corporate entities, assisting with the interpretation and implementation of upcoming regulation and legislation, due diligence and execution of investments by XTX Ventures, representing XTX on various industry working groups and advising the business on all manner of legal queries.

XTX is at the forefront of the technological innovation occurring in financial markets which means that we also need to be innovative, commercial and practical in the advice that we provide. The work is intellectually challenging, often ground breaking, and we operate in a highly collaborative and fast-paced environment, working closely with all departments and senior management to achieve the firm’s objectives.

Sunil
Legal

The role of the Risk team is to support and independently challenge the firm’s management of risk, and to provide direction on the design and operation of the overall risk framework. XTX is an extremely risk-focussed firm, and risk awareness is integral to the way every team operates.

The main risks faced by XTX are operational and market-related. Good risk management depends on the close consideration of problems from different angles, and the team have backgrounds in maths, computer science and economics. This mix of disciplines enables us to select appropriate data sources to prove or disprove assertions, collaboratively asking “what if…?”, and using the resulting insights to test business assumptions.

For me, the role combines two areas of deep interest: I spent the first decade of my career in IT as a programmer, and the last ten years have been in Risk. The work at XTX is very varied, the people are super-bright, and the flat hierarchy means that decisions can be taken and implemented very rapidly. It’s a great place to work.

Andrew
Risk
Dmitry

The quant research team is responsible for the design and estimation of the statistical models behind all of our trading.

This is a very challenging task due to the highly competitive and continuously changing nature of financial markets.

The data we use consist of trillions of noisy observations. To make sense of it, we deploy state of the art machine learning techniques and have at our disposal a large cluster of computational resources.

My favourite aspects of the job are the technical challenges it presents, the opportunities it offers to keep learning, and how collegiate and collaborative the team is.

Dmitry
Quant Research
James

Our team works closely with the quant team to take models from a MATLAB prototype to trading tens of thousands of instruments on nearly a hundred exchanges around the world. We’re a small, close-knit team and we cover the entire tick-to-trade flow, from processing incoming market data to evaluating trading signals to submitting orders.

Our systems have to be able to process an incredible amount of incoming data in real-time without queueing, with market data from major exchanges frequently amounting to tens of gigabits per second. No technology is off-limits to us, we’ll use whatever is the best tool for the job, although our favourite languages are C++ and Python.

James
Exchange Trading Development
Paul

The OTC trading development team builds XTX's client-facing/OTC platforms. Our OTC market-making system offers continuous liquidity across multiple asset classes and thousands of instruments. It speaks around a hundred market data and trading protocols. We also build a range of in-house systems for real-time performance monitoring and analysis of XTX's trading activity, which generates millions of events per second.

Our team is drawn from a range of financial and non-financial backgrounds. We specialise in building high performance, highly available distributed systems. We are given a high degree of autonomy to meet requirements with the software and hardware that we see fit.

Paul
OTC Trading Development
Richard

Our team is responsible for the Core Technology platform, supporting all aspects of the firm’s post-trade activities and primarily developed in Go. We maintain highly-available real-time systems and a host of tools, jobs, services and GUIs to enable us to operate effectively in a highly automated way. The broad range of functions we support means we collaborate with almost every department in the firm.

What I value most about working at XTX is the firm’s commitment to quality software engineering. We look to build solutions that stand the test of time and scale with the needs of the business.

Richard
Core Development
Oli

The infrastructure group builds, looks after and improves three types of technology infrastructure. We need our general office and datacentre environment to always work and scale with our rapid growth. Our trading colocations are expressions of precise and deterministic computational performance. Our research cluster has doubled in size every year, and achieves unbridled storage and compute width.

Our group consists of experts in linux, storage, network, windows, database, technologies and procurement, and given the scale of what we manage, we rigorously automate and solve our problems with code. Even with 25 years’ experience in computational finance, at XTX I learn new technologies directly or from my colleagues every single day I work.

Oli
Infrastructure
Kristen

The distribution team is responsible for building and maintaining institutional client relationships at the firm. We work with a number of different client types (hedge funds, real money managers, regional banks and retail aggregators) across a number of different asset classes (FX, metals and cash equities).

I enjoy the role as each client’s needs are unique and we explain not just what the firm can deliver for them in terms of XTX‘s market leading liquidity but also how market microstructure works, how to better manage their liquidity, how regulations are evolving and how using data analytics can help them to lower their cost of execution.

I also really enjoy working closely with the trading analyst and quant teams to help solve any client queries.

Kristen
Distribution
Christine

The onboarding team works with external clients, platforms and vendors on integration to facilitate trading of our OTC products.

Dealing with technical integrations, while working closely with external clients, has always ticked the boxes for me personally, and it’s great to go home at the end of the day knowing that we have delivered solutions to our business and clients.

Every day is different and although there are never enough hours in the day, I’m one of those people who enjoy working in a busy and productive environment. The firm is highly collaborative and the hierarchy and bureaucracy that can hinder other companies is non-existent, meaning that I am trusted to do my best and to enact change and progress. I have never been as productive as I am here and I put this down to being given the responsibility and environment in which I can flourish.

Christine
Client Onboarding
Sherine

The operations team supports our cross-asset operations, reconciling and checking that the millions of trades we transact are accounted for and confirmed with all of our counterparties on a real-time basis. The team also ensures our risk exposures and positions with each of our counterparties are being managed correctly. We have developed robust, scalable solutions and are constantly improving our efficiency as a result, whilst maintaining absolute accuracy with our data and reporting.

It is challenging work in a fast-paced environment, where no two days are ever the same and, for me, this is what it’s all about. I enjoy seeing processes I have refined being implemented and seeing the immediate results.

Sherine
Operations
Sunil

The Legal Department is responsible for managing and mitigating XTX’s legal risk and is closely integrated with the business. We have a very diverse range of work and responsibilities including documenting agreements with all external counterparties, overseeing the governance and management of all XTX group corporate entities, assisting with the interpretation and implementation of upcoming regulation and legislation, due diligence and execution of investments by XTX Ventures, representing XTX on various industry working groups and advising the business on all manner of legal queries.

XTX is at the forefront of the technological innovation occurring in financial markets which means that we also need to be innovative, commercial and practical in the advice that we provide. The work is intellectually challenging, often ground breaking, and we operate in a highly collaborative and fast-paced environment, working closely with all departments and senior management to achieve the firm’s objectives.

Sunil
Legal
Andrew

The role of the Risk team is to support and independently challenge the firm’s management of risk, and to provide direction on the design and operation of the overall risk framework. XTX is an extremely risk-focussed firm, and risk awareness is integral to the way every team operates.

The main risks faced by XTX are operational and market-related. Good risk management depends on the close consideration of problems from different angles, and the team have backgrounds in maths, computer science and economics. This mix of disciplines enables us to select appropriate data sources to prove or disprove assertions, collaboratively asking “what if…?”, and using the resulting insights to test business assumptions.

For me, the role combines two areas of deep interest: I spent the first decade of my career in IT as a programmer, and the last ten years have been in Risk. The work at XTX is very varied, the people are super-bright, and the flat hierarchy means that decisions can be taken and implemented very rapidly. It’s a great place to work.

Andrew
Risk

The perks

Have a walk through our London office here

General

  • Life cover
  • Health cover
  • Critical illness cover
  • Travel cover
  • Dental cover
  • Pension contributions
  • Pension advice
  • Charitable giving/employee matching scheme
  • Electric vehicle/cycle to work schemes

Health & Wellbeing

  • Weekly doctor visits
  • Annual health screening
  • Emergency dependent care
  • Wellbeing consultant
  • Eyecare allowance
  • Workplace nursery scheme
  • Private gym
  • Sauna
  • Massage therapist
  • Yoga classes
  • Pilates classes
  • Climbing wall

Workplace

  • Fully stocked kitchens
  • Onsite catered breakfast & lunch
  • Regular staff events & parties
  • Private cinema viewings in Everyman cinema
  • Pool & table tennis tables
  • Arcade machines
  • Merchandise
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funding
futures

We don’t take our success for granted. As financial technologists we believe in our responsibility to support progress in society and our local communities.

Since 2017, we have donated over £60 million to charities and good causes, establishing us a major donor in the UK and globally. Our giving has focused broadly on education, health and covid relief. We also recently donated £10 million to the UNHCR and the frontline work they are engaged in in Ukraine and surrounding countries [click here for more]

We are proud to have developed long-term partnerships with charities in our local communities such as Great Ormond Street Hospital and the King’s Maths School.

We made major donations to urgent Covid appeals, including £10 million to NHS Charities Together (as the very first donor to their campaign).

We were also one of the first companies to introduce a carbon removal programme for employees as part of our climate pledges.

We have also recently launched our Academic Sanctuaries Fund of £15m over three years. Overall, the goal is to deliver more and better academic sanctuary places for students and researchers forced to flee due to the war in Ukraine. Universities and charities can apply for funding to cover costs associated with providing places, plus capacity building and innovation projects. [Click here for further details/to apply].

    funding futures

    • Our corporate philanthropy has two distinct portfolios:

      Portfolio 1 - STEM Education & Careers
      As a tech company, supporting STEM education and careers is a priority for XTX Markets. In particular, we aim to provide opportunities for young people from under-privileged and under-represented backgrounds to excel in STEM.

      • Objectives and Scope
        Our key objectives are to help young people progress in STEM education and careers, and to develop and promote mathematics and technology within the education sector. This work has a global reach but is centred on the countries where XTX Markets has a presence (UK, USA, France, India and Singapore).
      • Approach
        Our approach is to manage our STEM education and careers portfolio actively. We source opportunities, conduct our own due diligence and work in collaboration with partners towards our shared goals. Donations are a priority, but we also fund other activities, such as commissioning research and holding events.

      Portfolio 2 - Maximum Impact Giving
      As a data-driven organisation, we want to fund charities that maximise expected returns for society. We are especially looking for initiatives that can provide counterfactual evidence of impact, or a robust theory of change.

      • Objectives and Scope
        Our key objectives are to support projects that will maximum returns on philanthropic investment, and to develop and promote effective giving within the charity sector. This work is sector agnostic (e.g. education, health) but is mainly focused on lower and middle-income countries.
      • Approach
        Our approach is to work with external experts to manage this portfolio, including sourcing opportunities and conducting due diligence. Donations are the main priority, although we sometimes fund new research too.

    • Regional Giving

      XTX Markets is headquartered in London and we have international offices in New York, Paris, Mumbai and Singapore.

      We encourage and support employee-led partnerships with charities in our local communities. We have regular nominations and votes regarding donations and employees can also take the lead on organising activities (e.g. fundraising events).

      These partnerships typically involve the company making a donation to the charity and then supporting employees to take part in events and fundraising.

      Employee Matching

      XTX Markets offers to match personal donations that employees make. This is done on a 1:1 basis. For every £1 given, we match with £1.

      To support this, we offer in-house research and advice for employees who are considering making personal donations.

      We also run a monthly programme of lunch and learns for employees, which are mostly led by CEOs of our existing philanthropy partners.

    • XTX Markets was one of the first companies to introduce a carbon removal programme for employees as part of our recently released climate pledges.

      To meet the IPPC’s 1.5C scenario, the emerging consensus is that carbon capture and storage (CCS) needs to increase from around 40 million tonnes of CO2 in 2020 to 1 billion tonnes in 2030, then 10 billion tonnes in 2050.

      The market for carbon removal needs to grow by 25 times by 2030. XTX will support this goal by purchasing CCS credits that help to accelerate the market and bring down the cost curve. XTX is focusing on projects that have scientifically valid methods to capture atmospheric CO2 and store it durably for thousands of years. There are several promising technologies, from $100-$1,000 per tonne and we will not use low-credibility offsets, which can cost as little as $5 per tonne.

      XTX has purchased its first tranche of carbon removal credits for its 2020 emissions, equivalent to 3,265 tonnes of CO2. We plan to purchase further tranches each year.

      We believe XTX is one of the first trading firms to remove its CO2 emissions and, as far as we know, the first major firm in any sector to remove household carbon emissions on behalf of employees.

      XTX Markets Climate Pledges:

      We recognise that net zero requires both the reduction and the removal of CO2 emissions. To this end, XTX is making four pledges:

      • We pledge to avoid energy use from fossil fuels:

      Our research cluster uses geothermal energy (totalling 3.8MW of renewable power) and our UK office has switched to renewable energy. We will keep working to incrementally improve on this.

      • We pledge to remove all the firm’s CO2 emissions:

      We pledge to remove the CO2 emitted as a result of the firm’s own assets, purchased energy use and indirect emissions (Scope 1, 2, and 3 emissions respectively).

      • We pledge to remove 16t of CO2 per employee:

      We pledge to remove individual XTX employees’ carbon emissions at the level of 16 tonnes of C02 per employee – an amount which is more than the average UK household will emit in a year.

      • We pledge to offer support to employees who want to reduce their carbon footprint:

      As well as removing CO2 on behalf of employees, we will offer further support where we can. This includes initiatives like electric vehicle lease schemes and advice on buying personal carbon credits.

    XTX MARKETS

    CLIENTS

    We offer OTC liquidity across FX, metals and equity products. Clients range from regional banks to institutional investors – including macro, systematic funds and real money.

    XTX has been a Top 3 FX liquidity provider for electronic Spot/Forwards for 7 years running and in 2022 became the largest Emerging Market FX provider (Euromoney survey). Our analytical tools and data-driven insights aim to help our clients reduce their cost of trading and better understand market microstructure.

    XTX believes in making electronic markets fairer for all participants and we work closely with regulators, exchanges, and clients to improve the market ecology across asset classes. Click below for more details on our market making principles and to read our thought leadership pieces on market structure.

    LEARN MORE

    NEWS

    XTX MARKETS

    XTX Ventures

    XTX Ventures is the venture capital arm of XTX Markets. It leverages XTX Markets’ deep expertise in machine learning and financial technology to invest in companies where the core technical expertise of XTX Markets can be used to help grow and enhance those businesses.

    LEARN MORE

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