☮ ♥ ♬ 🧑💻<p>“Hedge funds will go to great lengths in pursuit of <a href="https://ioc.exchange/tags/profits" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>profits</span></a>, whether it is by counting cars in satellite photos of parking lots or shipping gold across the Atlantic. Building a <a href="https://ioc.exchange/tags/compiler" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>compiler</span></a>—a piece of <a href="https://ioc.exchange/tags/software" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>software</span></a> that turns human-written code into programs a computer can execute—for your homegrown language? That still raises eyebrows.</p><p><a href="https://ioc.exchange/tags/JaneStreet" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>JaneStreet</span></a> is the quant shops’ quant shop, and it does just that, with great success. Last year its trading revenue almost doubled, to $21bn, putting it on a par with giants such as <a href="https://ioc.exchange/tags/Citigroup" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>Citigroup</span></a> and <a href="https://ioc.exchange/tags/MorganStanley" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>MorganStanley</span></a>. And the goose that lays the golden egg is its <a href="https://ioc.exchange/tags/tech" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>tech</span></a> system.</p><p>But it is what this system is built from that is really unusual. Other firms employ a hotchpotch of <a href="https://ioc.exchange/tags/ProgrammingLanguages" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>ProgrammingLanguages</span></a>, allowing staff to choose the right one for the job. At Jane Street almost everyone works in an obscure tongue developed by French academics: <a href="https://ioc.exchange/tags/OCaml" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>OCaml</span></a>. </p><p>Ask a <a href="https://ioc.exchange/tags/trader" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>trader</span></a> at the firm for its benefits and they will reel off a string of features, such as its support for <a href="https://ioc.exchange/tags/StaticTyping" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>StaticTyping</span></a> and <a href="https://ioc.exchange/tags/FunctionalProgramming" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>FunctionalProgramming</span></a>, that make it hard to learn but powerful when applied to a problem. The company says the language helps “maximise the <a href="https://ioc.exchange/tags/productivity" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>productivity</span></a> of each person we hire”.”</p><p><a href="https://ioc.exchange/tags/HedgeFunds" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>HedgeFunds</span></a> / <a href="https://ioc.exchange/tags/finance" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>finance</span></a> <<a href="https://www.economist.com/finance-and-economics/2025/06/26/jane-streets-sneaky-retention-tactic" rel="nofollow noopener" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="ellipsis">economist.com/finance-and-econ</span><span class="invisible">omics/2025/06/26/jane-streets-sneaky-retention-tactic</span></a>> (paywall) / <<a href="https://archive.md/DQ0ku" rel="nofollow noopener" translate="no" target="_blank"><span class="invisible">https://</span><span class="">archive.md/DQ0ku</span><span class="invisible"></span></a>></p>