Jump Trading Hires Startup Founder to Lead Compute Trading Unit

October 13, according to Bloomberg, market maker Jump Trading has hired the founding team of a computing power trading startup. As the AI boom drives the development of related markets, market makers are gradually stepping into this emerging asset class.

According to a post by Ito Markets on X, Jump Trading has brought in Affaan Mustafa and Alejandro Soumah Fernandez, founders of Ito Markets Inc., through an "acqui-hire" arrangement. Ito Markets is a proprietary trading startup focused on buying and selling the right to use computing power. The two have joined Jump Trading and are responsible for leading its newly established computing power trading division. The financial terms of the deal have not been disclosed.