Hertshten Group, a big traders on global derivatives bourses in Chicago, London and Frankfurt employs most of its traders from India, China, and more.

The Financial Times (gated, but can be read with a free registration) carries a lot more detail: A proprietary trading firm has clawed its way into the big leagues using recruits from India, Kenya and China

In brief:

Its success shows how the offshoring that began with manufacturing and services is now encroaching on the diehard capitalists of the western trading industry. "Jobs that are disappearing in Chicago are appearing in Nairobi," says a US-based trading executive.

... the "vast majority" of Hertshten traders still point and click with their mouses; computer algorithms account for less than a quarter of volumes. To Hertshten, being fast is important but being the fastest is not worth the high cost of the technology.

The article also mentions another firm ...

London-based OSTC has 16 offices in 10 countries including Poland, Russia, Turkey and India. Jonny Aucamp, OSTC chief executive, says his staff also trade this way and have exchange volumes "not dissimilar" to Hertshten's.

If you can access the FT, its an interesting weekend read.

