How Longer Non-Competes Are Changing the Trading Technology Job Market

By Marius Van Der Merwe, Senior Consultant, Tribus

Non-compete agreements are an increasingly important consideration for professionals moving between hedge funds, proprietary trading firms and other financial markets businesses.

That includes technology professionals.

Recent reporting around Citadel has brought the issue back into focus. Bloomberg reported in August 2026 that the firm is requiring non-compete and garden-leave periods of up to two years for some investment professionals, including certain analysts, with the length linked to total compensation. The minimum reported period for analysts is one year.

For candidates in an already competitive APAC technology market, restrictions like these can make changing jobs more complicated than simply accepting a new offer.

Non-competes are reaching further into the industry

Long non-competes and garden leave have been a feature of hedge fund and proprietary trading recruitment for years.

Traditionally, the longest restrictions have tended to be associated with senior traders and portfolio managers who have access to proprietary strategies and commercially sensitive information.

What's changing is the number of people who can be affected.

Citadel has been moving in this direction for some time. Bloomberg reported in January 2025 that some Citadel portfolio managers were subject to non-competes of up to 21 months, compared with an average of around one year in 2020.

The wider trend is worth watching because restrictions aren't necessarily confined to investment roles. We're increasingly encountering them when recruiting for senior technology positions too.

Why does this matter for technology professionals?

For a senior C++ engineer, quant developer or trading infrastructure specialist, a non-compete can have a direct impact on their next career move.

A candidate might receive an offer from another trading firm, but if their current contract prevents them from joining a competitor for six, twelve or even twenty-four months, the new employer has to decide whether it is prepared to wait.

That's particularly relevant in trading technology, where firms are often looking for people with specific experience in areas such as:

• C++ and low-latency systems

• Electronic trading

• Quantitative development

• Market data

• Exchange connectivity

• Trading infrastructure

The more specialised the candidate, the more likely it is that contractual restrictions will become part of the conversation.

Check the details before resigning

One of the biggest mistakes we see is candidates only looking closely at their employment restrictions once they've decided to leave.

By that point, their options are much more limited.

Before accepting a new role — and certainly before handing in your notice — it's worth understanding exactly what your contract says about:

• Non-compete periods

• Garden leave

• Notice periods

• Which competitors are covered

• Geographic restrictions

• The type of work you're prevented from undertaking

The legal position varies depending on the country, contract and individual circumstances, so candidates should take independent legal advice where appropriate.

What can employers do about lengthy restrictions?

A long non-compete doesn't necessarily mean a candidate can't be hired.

It does mean that the issue needs to be discussed early.

A firm may be willing to wait for the right person, particularly where the candidate has a rare combination of technical and financial markets experience.

In other situations, employers may consider a delayed start date, sign-on payment or buyout arrangements to make the move possible.

Across our own APAC placements, we've seen buyout packages of around US$20K–$100K and sign-on bonuses of approximately US$25K–$100K.

These aren't market-wide benchmarks and individual packages vary, but they demonstrate how contractual restrictions can become part of the overall compensation discussion.

We're seeing this in APAC technology recruitment

The issue is particularly relevant to the APAC trading technology market.

There is already strong demand for experienced engineers and technology specialists across Hong Kong, Singapore and Sydney. When firms are competing for a relatively small pool of candidates, a lengthy non-compete can make the hiring process considerably more difficult.

We're seeing restrictions among senior C++ engineers, quant developers and production support professionals, particularly when candidates are moving between larger financial markets organisations.

For candidates, the takeaway is simple: understand your restrictions before you start the process.

For employers, it's worth establishing a candidate's availability and contractual position early rather than discovering a six-month or twelve-month delay at offer stage.

The firms that are prepared to plan ahead can put themselves in a stronger position when competing for specialist trading technology talent.

If you're considering your next move in APAC trading technology, or you're looking to hire C++, quant development or other specialist technology talent, get in touch to discuss the market and your options.

This article is intended as recruitment market commentary and does not constitute legal advice. The enforceability of non-compete agreements and other post-termination restrictions varies by jurisdiction and individual contract.

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