HONG KONG - Jane Street, one of the world's largest quant trading firms and market makers, is planning a sharp increase in Hong Kong office space, two people familiar with the matter said.

The New York-based firm is negotiating with landlord Hongkong Land to lease two more floors at Chater House, an office tower in the special administrative region’s business district of Central, they said, speaking on the condition of anonymity.

If the deal materializes, Jane Street will occupy six floors of the 30-story building, totaling over 110,000 sq ft of office space, compared to just 2.5 floors a year ago.

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Jane Street and Hongkong Land declined to comment.

Citadel Securities and Tower Research Capital have also been recruiting and expanding their offices in Hong Kong.

Jane Street employs 400 people in the city, one of the people said, adding its Hong Kong-based team covers not only the Chinese mainland and Hong Kong SAR but also Japan, Singapore and Australia.

It is hiring for more than 40 roles in Hong Kong, the firm's website shows.

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Known for high-frequency trading and its dominance of the exchange traded funds market, Jane Street has seen explosive growth in recent years. It is a registered market maker on the Hong Kong bourse and was approved to trade yuan-denominated shares in Hong Kong in 2023.

The firm earned around $6.1 billion in the first half of 2024, nearly double that of the same period a year earlier, Bloomberg reported.

Jane Street plans to take the two floors used by Point72 Asset Management, according to one of the people.

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Point72 is moving out because it wants more office space, local media have said. The US hedge fund did not immediately reply to a request for comment.