Who We Are

HRN Research Capital is a quantitative trading firm headquartered in Chicago and New York. The company specializes in the development and implementation of quantitative trading strategies and serves as an active liquidity provider in the municipal bond market.

Meet the Team

Pulkit Kashyap

Chief Executive Officer

Pulkit is a Co-Founder and Chief Executive Officer of HRN Research Capital. After graduating from Cornell University in 2018, he began his career at Goldman Sachs as a machine learning engineer before joining Headlands Tech Global Markets as a quantitative researcher within the firm's market-making operation. Following HTGM's acquisition by TD Bank, Pulkit led various quantitative research initiatives to scale both the municipal bond and credit trading businesses within TD Securities Automated Trading.

Pulkit Kashyap

Ali Mrani

Chief Operating Officer

Ali is a Co-Founder and Chief Operating Officer at HRN Research Capital. After graduating from Columbia University in 2016, he began his career as a trader at Hartree Partners LP before joining Headlands Tech Global Markets as an early employee, where he worked as a quantitative trader and researcher on the firm's fixed income market-making operations. Following HTGM's acquisition by TD Bank, Ali helped scale the municipal bond market-making business within TD Securities Automated Trading. Building on his experience at the bank, he went on to co-found HRN Research Capital LLC.

Ali Mrani

Clayton Kobilca

Head of Sales & Trading

Clayton is a Co-Founder and Head of Sales & Trading at HRN Research Capital. Previously, he was an early employee at Headlands Tech Global Markets, where he traded and built out the firm's electronic sales trading and distribution platform. After HTGM was acquired by TD Bank, Clayton led electronic sales trading and distribution for TD Securities Automated Trading across municipals and investment grade credit. He graduated from DePaul University in 2017.

Clayton Kobilca

Contact: contact@hrnrc.com

444 W. Lake Street, Floor 17
Chicago, IL 60606