Those working in companies as a SWE like Jane Street, HRT, Citadels - do you have trade restrictions as part of your job? I do stock/options buy/sell once in a week (not $META unless it’s in a trading window). I wonder if fintech folks have any trade restrictions. What are these restrictions like? TC: $310k
Finance usually requires pre approval for trades and sometimes limits on what instruments you can use. Often limits on how many per month, such as only 4-6 trades per month. Also sometimes limits on how soon you can reverse a trade. E.g. you can't buy a stock then sell it within 30 days. Also can only open accounts at brokers that support automated trade reporting, so you can use big brokers but not small brokers that haven't bothered to implement that infrastructure. Trading in mutual funds is usually unrestricted as long as it is unrelated to your work and you have no insider info/non public info. Fintech is much more relaxed. Might need to get accounts approved. Probably have to report trades but likely won't need to preclear them. You can use automated reporting or if the broker doesn't support it you can self report. Some limits on how you trade your company stock, but that is the same as anywhere else.
I worked as a data engineer for the trading team at Barclays. My trades and all of my close relatives trades had to get approval.
How would they know?
If you didn't report or preclear anything? They wouldn't immediately notice but your company does tell finra/SEC to monitor you, and the brokers report to SEC what you're doing, and your company also sends reports to the SEC of what they've cleared/approved. So eventually the SEC will see the mismatch and probably contact your company and investigate you. This will result in you getting in big trouble. Probably fired at the least and depending on the severity you could also see penalties, fines, or even restrictions from working in finance if you did anything criminal. I guess the worst worst case would be prison if you did a bunch of insider trading
They ask you to reveal which brokerage accounts you have and they make they have them report monthly statements. You could not reveal but FINRA might find out and fuck you
Restrictions depend on company policies and sometimes role. Some employers even restrict which brokers you’re allowed to use. You will always have to disclose your accounts to your employer and they will be monitoring your activity. There’s also precedent for requiring socials to be monitored too, but that happens less often
Does HRT also monitor crypto trading ?
If your company is a broker-dealer, your restrictions are severe. Depends on the company but the common practice is to outright forbid day trading, trading options, short selling. Minimum holding periods are also common. You are required to pre-clear any stock or index trades that are not wide market, and for everything that is allowed you are oftentimes required to use a specific trading company. I do not know much about fintech.
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I don’t work at a Quant but i work for an asset manager where we are required (if you are access personnel) to submit a request for trades before you make them. only i’m individual stocks. i would assume most places are like this where engineers may have access to secret market data the public does not