Transcript
GET TO KNOW US | JANE STREET
Hi, I’m Rachel, and I’m a TDO* on the International ETF desk in London. I joined in 2020.
WHAT DO TDOs DO AT JANE STREET?
In general, a TDO will sit on the desk between developers and traders and we’re there to facilitate the trading that happens. There’s two elements to a TDO role. The first is the day-to-day activities. So for example, you might be booking trades, so they get into our databases accurately and promptly and working with our brokers to settle our positions and to resolve any breaks. And also the other element is the project work that you get involved with. So that might be building new tools or optimizing existing processes.
WHAT TIPS DO YOU HAVE FOR CANDIDATES PREPARING FOR THE TDO INTERVIEW?
One way to prepare for an interview at Jane Street is to make sure that you’ve read and understood all the pre-reading documents that you might have been sent in advance. Just make sure you’ve understood them and if you have any questions, ask us as soon as you get in. In your interview, you’ll be provided with a variety of unseen problems. They’re designed to be challenging and you’re not necessarily expected to know the answers straight away. The best way to prepare is to focus on problem solving. Part of the interview process is to kind of give us a sense of what it would be like to work with you on a daily basis. And so that focus on collaborative problem solving is key. Another way to prepare for an interview at Jane Street is to think about what you want to find out. The interviewing process here is very much two way. It’s not just about us interviewing you. It’s making sure that we’re a good fit for yourself. And through the interview process, you’ll have multiple opportunities to speak to current TDOs and you can ask them literally anything from the day-to-day activities to the social life here in the office.
HOW MUCH DO TDOs INTERACT WITH OTHER GROUPS AT JANE STREET?
The amount that you interact with other teams at Jane Street depends on the projects that you’re working on. A TDO sits between the traders and developers, so we’re often seen as a good point of contact on the desk and we have a good oversight of everything that goes on. If for example, you’re working on building a new tool that’s going to be used across different desks or across different offices, it’s important that you engage with all of those different teams to make sure that they’re involved in the process. Being a TDO means that you’re involved in the settlement cycles of our trades that happen, and that means you’re constantly in contact with the Operations team. Another example would be speaking with the Legal and Compliance teams here in the office, and that’s because when you’re setting up new counterparties or trading new flows, you need to consider the regulatory impacts of what we’re going to be doing.
WHAT DOES CAREER PROGRESSION LOOK LIKE FOR SOMEONE IN THIS ROLE?
Jane Street has a flatter structure than more traditional finance firms. And that means that often when you join as a TDO, you’ll end up staying as a TDO. But what changes over time is the breadth and depth of the knowledge that you possess. When you first join the trading desk, your focus will be more on the day-to-day activities, and that’s so you can understand the flows that take place and the trading that happens. And over time, naturally you’ll move on to more project work. There’s no hard rule to say that once you’ve been on the desk for X number of years, you move away from that day to day. It’s a personal preference and also based on the needs of the desk. And I still haven’t moved away from day-to-day activities because I find the day-to-day really exciting and I really enjoy it.
IS THERE ANY CHANCE OF BECOMING A DEV OR A TRADER AFTER STARTING AS A TDO?
Within the role of being a TDO, there are opportunities to pick up project work and tasks that mean you lean more towards developer or trader without formally moving from being a TDO. In terms of moving roles, from being a TDO to elsewhere in the firm, part of the interview process is about making sure that you’re a good fit for being a TDO and when you apply, you’re considered for all open positions within the firm. So if you’ve been hired as a TDO, it’s because we think you’ll be great in it.
WHAT ADVICE WOULD YOU GIVE TO NEW HIRES?
My advice to new hires, and it sounds cheesy, but just genuinely be yourself because Jane Street invests in you as a person. Ask lots of questions and don’t be conscious about volunteering your ideas, even if it’s your first day on the desk because that fresh perspective might be beneficial to the task at hand.
WHAT’S SOMETHING YOU WISH YOU KNEW WHEN YOU FIRST JOINED?
Something I wish I fully appreciated before joining Jane Street was the openness within the office. I was told throughout the interview process that the learning curve when you join is steep, and even though this is true, there’s this open culture that means you can put your hand up to say that you don’t understand something or even that you’ve done something wrong. And that doesn’t make any difference. If you’ve been here for 10 minutes or 10 years, the same still applies.
WHAT’S YOUR FAVORITE THING ABOUT WORKING AT JANE STREET?
One of my favorite things about working at Jane Street is that I feel valued every day. Jane Street really invests in the whole person and that care extends past logging off in the evenings. The firm arranges dinners and social activities that take place in London, and it’s a great place to meet with your colleagues and socialize, and they’re great fun.
*As of December 2023, the “TDO” title has been updated to “TDOE,” standing for Trading Desk Operations Engineer.
