NK Securities

They describe themselves as market makers before profit makers, and on India's NSE the record backs it up: the exchange named the firm top member in index derivatives since inception. NK Securities Research is a high-frequency proprietary shop founded in 2011 by IIT Delhi graduates Faraz Khan and Sudhanshu Narang, taking no clients and no outside funds.

Speed is built in silicon. The firm runs FPGA-based execution alongside a quant research stack heavy on Python and machine learning, and feeds its own talent pipeline through campus hackathons and scholarship tests aimed at the IITs. Gurgaon is home; a Singapore subsidiary and a GIFT City branch, both from 2020, point at ambitions beyond the domestic market.