According to Bloomberg, market maker Jump Trading has established a new internal compute trading division and acquired the founding team of Ito Markets, Affaan Mustafa and Alejandro Soumah Fernandez, through an acqui-hire; specific terms of the deal have not been disclosed. Analysts believe that, as the AI boom drives demand for computing resources, Jump’s move reflects financial trading firms accelerating their positioning in this emerging asset class.
Jump Trading Establishes Compute Trading Division and Acqui-hires the Founding Team of Ito Markets
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Summary
Jump Trading has launched a compute trading division and acquired the founding team of Ito Markets, Affaan Mustafa and Alejandro Soumah Fernandez, through an acqui-hire. The move follows the ongoing evolution of trading activity in the space. Terms of the deal were not disclosed. The new division will focus on expanding trading volume and execution capabilities.
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