Jump Trading is expanding its presence in Hong Kong as rising trading volumes and a strong pipeline of equity capital markets activity create new opportunities for quantitative and proprietary trading firms, according to a report by Bloomberg.

The report cites unnamed people familiar with the matter as revealing that the Chicago-based trading firm is taking an additional 11,000 square feet of office space at One International Finance Centre. The expansion will give Jump a new floor while also increasing its footprint on its existing floor, one of the people said.

Jump is also looking to increase headcount in Hong Kong, with recruitment plans spanning quantitative trading and artificial intelligence roles, according to the sources. A representative for the firm reportedly declined to comment.

The expansion comes as Hong Kong experiences a resurgence in equity market activity, including a robust IPO market that has attracted greater participation from global trading firms.

Jane Street Group agreed last year to take six floors at the Central Yards development, while Qube Research & Technologies subsequently signed a deal at Two International Finance Centre.