Rachel on Trading Desk Operations at Jane Street

I'm Rachel, a trading desk operations professional, or TDO, on the international ETF desk in London. I joined Jane Street in 2020. A TDO generally sits between developers and traders and helps facilitate the trading that takes place.

There are two elements to the role. Daily activities can include booking trades accurately and promptly into our databases, working with brokers to settle positions and resolving breaks. Project work might involve building new tools or optimizing existing processes.

To prepare for an interview, read and understand any pre-reading documents sent to you and ask questions if anything is unclear. You'll encounter unfamiliar problems designed to be challenging; you are not necessarily expected to know the answer immediately. Focus on problem-solving, particularly working through problems collaboratively, because the interview helps us understand what it would be like to work with you day to day.

Think about what you want to find out too. The interview goes both ways: it should help you decide whether we are a good fit for you. You will have opportunities to talk to current TDOs and ask about anything from daily activities to social life in the office.

How much you interact with other teams depends on your projects. A TDO sits between traders and developers, so we often act as a point of contact and have a broad view of the desk. If a new tool will be used across desks or offices, it is important to involve those teams in the process.

Because TDOs participate in trade settlement cycles, we are in constant contact with the operations team. We also speak with legal and compliance when setting up new counterparties or trading new flows, since we need to consider regulatory implications.

Jane Street has a flatter structure than more traditional financial firms. A person may remain a TDO as their knowledge grows in breadth and depth. At first the focus is more on daily activities, which help you understand the desk's trading flows; over time, project work naturally becomes a greater part of the role.

There is no fixed rule that after a certain number of years you must move away from daily work. It depends on personal preference and the needs of the desk. I still do daily activities because I find them exciting and enjoy them.

Within the TDO role, projects and tasks can let you lean more toward development or trading without formally changing roles. During hiring, the process considers whether you are a good fit for TDO and considers you for open positions across the firm; if you are hired as a TDO, it is because we think you will be great in that role.

My advice to new hires may sound cheesy: genuinely be yourself, because Jane Street invests in you as a person. Ask lots of questions and do not hesitate to volunteer ideas, even on your first day at the desk. A fresh perspective may benefit the task at hand.

Before joining, I wish I had fully appreciated how open the office culture is. The learning curve is steep, as I was told during interviews, but you can raise your hand and say you do not understand something or have made a mistake. That applies whether you have been here ten minutes or ten years.

One of my favorite things about Jane Street is feeling valued every day. The firm invests in the whole person, and that care extends beyond logging off. It arranges dinners and social activities in London, which are a fun way to meet and socialize with colleagues.