XTX Markets

XTX Markets

XTX Markets is an algorithmic trading firm that applies machine learning to produce price forecasts across equities, fixed income, currencies, commodities and crypto. The firm was founded to operate at the intersection of computational research and electronic market-making, rather than as a traditional asset gatherer. Trading over $250 billion in daily notional, XTX has built a research infrastructure that includes a 25,000-GPU cluster and 650 petabytes of usable storage, and it is constructing a large-scale data centre in Kajaani, Finland to expand this capacity. Its strategy spans more than 50,000 financial instruments and is executed entirely through algorithmic models, with no reliance on fundamental analysts or macro discretionary calls. The firm provides liquidity on-exchange and on alternative trading venues, and also offers differentiated liquidity directly to institutional clients. XTX operates across Europe, North America, and Asia, with offices in London, New York, Singapore, Paris, Bristol, Mumbai, Yerevan, and Kajaani. With approximately 250 employees, XTX is lean by design, staffing researchers, developers, and technologists with backgrounds in mathematics, physics, and computer science. The firm has no external clients in the traditional asset-management sense; its capital deployment is proprietary. Adjacent to the core business, XTX Markets has committed more than £400 million to charities since 2020, making it one of the largest donors in the UK, and it runs a ventures arm. Its philanthropy focuses on mathematics education and research, particularly for students from lower-income backgrounds. Structurally, XTX differs from hedge funds and banks by not managing external capital or charging fees on assets. Its economics come from bid-ask spreads and the proprietary edge of its models, which makes its P&L entirely dependent on the quality of its machine-learning forecasts rather than fundraising cycles. This architecture allows the firm to reinvest heavily in computational resources and maintain a long research horizon without the pressure of quarterly investor reporting or redemption risk.