Jump Trading Expands Office Space in Hong Kong’s IFC Building

Jump Trading is adding office space in Hong Kong, according to people familiar with the matter, the latest sign of global trading firms expanding their presence in the city.

The Chicago-based firm will add 11,000 square feet (1,022 square meters) of space in One International Finance Centre, said people with knowledge of the matter, who asked not to be identified discussing private matters. It will expand into a new floor and take more space on its current floor, one of the people said.

The deal comes as Jump Trading becomes increasingly active in the city’s equity capital markets, where a prolonged boom in initial public offerings is creating rich opportunities for trading firms. The firm is planning to add talent in the Hong Kong office in both quantitative and artificial intelligence roles, one of the people said.

A representative for Jump Trading declined to comment.

Proprietary trading firms and global hedge funds have helped drive a Hong Kong grade-A office market recovery, after a previous period of oversupply earlier pushed up vacancy rates and suppressed rents.

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Jane Street Group last year signed for six floors in Central Yards, a new waterfront development under construction in Central, in the biggest office lease deal in the area in decades. Global multistrategy hedge fund firm Qube Research & Technologies followed with its own deal in Two International Finance Centre.

These firms are making the most of a rise in trading volumes and ECM deal flow. Both contract volume and open interest of Hong Kong-listed options hit fresh records in each of the last three years, according to data from the city’s exchange operator. By Sept. 4, open interest of such securities was already more than a third higher than last year’s full-year figure. ETF turnover has also surged, boosting another area where Jump Trading and its rivals have been active.

While the allocation of shares in Hong Kong IPOs and block trades is typically private, Jump Trading emerged as a cornerstone investor in the Hong Kong listing of printed circuit board maker Victory Giant Technology Huizhou Co. The stock surged 50% on its first day of trading.