U.K.DisclosuresOfferRareGlimpseofPayatQuantTradingFirms

Mandatory U.K. corporate filings are shedding rare light on pay inside the secretive quantitative trading industry, showing that average compensation at some leading firms exceeds $1 million annually.

An analysis by Caixin of regulatory disclosures from 11 major algorithmic trading firms with operations in both the U.K. and China found the highest pay at firms including U.S.-based Hudson River Trading, Citadel Securities LLC, Jane Street Capital and D. E. Shaw & Co. Filings for their U.K. entities show average annual compensation per employee above $1 million.

The analysis was based on figures from filings to Companies House, where firms disclose employee headcount and total staff compensation.

Another group of firms, including Jump Trading, Optiver, Two Sigma, IMC and Tower Research Capital, reported average annual pay broadly ranging from about $500,000 to $900,000.

Quantitative trading firms typically release little financial information publicly, so the disclosures offer an uncommon snapshot of pay levels in the sector.

The numbers, however, are not fully comparable across companies. This is because some firms report total employee costs — including salaries, bonuses, social security and pension contributions — while others disclose narrower compensation figures.

Employees from four of the firms told Caixin that pretax pay levels in their U.K. offices are broadly in line with those in the U.S.