Stockholm · Est. 2012 · Proprietary Trading

Speed is
the strategy.
Precision is
the discipline.

Alnair AB is a Stockholm-based proprietary trading firm deploying fully automated, high-frequency strategies across equities, derivatives, FX, and digital assets. We trade on our own account. No clients. No mandates. Pure performance.

7
Trading Venues
80+
Crypto ETPs
4
Asset Classes
2012
Founded
Market Making Cross-Border Arbitrage Statistical Arbitrage Digital Assets Index Futures ETPs & ETFs FX
About

A firm that earns its
edge every day

Alnair AB trades exclusively on its own account — no clients, no external mandates. Every decision is driven by performance and intellectual rigour. Founded in 2012, Alnair's early trading operations were conducted through SEB — not as a client, but as a trusted partner operating its own co-located infrastructure, with the full confidence of the institution behind it. Alnair became a direct exchange member in 2016, and received full authorisation as a regulated investment firm under Finansinspektionen in December 2017 — required ahead of the introduction of MiFID II.

We are lean by design. A small team of engineers and researchers who are exceptionally good at what we do — building, testing, and running trading systems that perform in production, every single day.

Company details
Legal nameAlnair AB
Registration556913-4330
Founded2012, Stockholm, Sweden
Visiting addressKungsgatan 33, 6tr · 111 56 Stockholm
Postal addressBox 7293 · 103 90 Stockholm
LEI254900OPHMFR2KZ2AY02
Supervisory authorityFinansinspektionen · Auth. 40-5627
VAT no.SE556913433001
Since inception, negative trading days have been rare — averaging fewer than two per year across all strategies.
We consider this the most honest measure of what we actually do.
Leadership

Board of
Directors

Alnair is governed by a board that combines deep capital markets experience, regulatory expertise, and corporate governance rigour — built to support a firm with serious ambitions.

Chairman
Magnus Stuart
Magnus Stuart brings extensive experience in corporate governance and board leadership, with a track record spanning multiple exchange listings and long-term board service at publicly listed companies. He holds a Master of Science in Business and Economics from the Stockholm School of Economics and a Mining Engineering degree from KTH Royal Institute of Technology — a combination that speaks to both commercial acumen and rigorous analytical thinking.
Board Member
Carl Knutsson
Carl Knutsson has built a career at the intersection of finance and leadership, holding senior executive positions across both listed and unlisted companies, with extensive board experience throughout. He holds a Master of Science in Business and Economics from Lund University, and brings additional perspective through his role as a lay auditor in municipal companies — a background that sharpens his understanding of governance, accountability, and institutional rigour.
Board Member
Sven Andersson
Sven Andersson has spent his career at the heart of the Nordic securities markets, most notably through senior leadership positions at SEB. He brings deep knowledge of trading operations, market regulation, and compliance, alongside an extensive network spanning exchanges, regulators, institutional clients, and industry organisations across the region. Few people understand how Nordic financial markets actually work as well as Sven does.
Board Member & CEO
Kristoffer Hägglöf
Kristoffer Hägglöf founded Alnair in 2012 and has led it since. Before founding Alnair, he built his career in senior leadership roles at major financial institutions, developing deep expertise in algorithmic trading, market structure, and operations across the Nordic region. He represented his previous firms in the Swedish Securities Markets Association's Marketplace Group — a senior industry working group on market structure, regulation, and policy — a role that reflects his long-standing position at the centre of the Nordic trading community. Kristoffer holds a PhD in Optimisation from Linköping University of Technology and a Computer Engineering degree from KTH Royal Institute of Technology — the intellectual foundation on which everything Alnair rests.
Governance

Key functions &
external appointments

Alnair maintains a full governance and compliance infrastructure commensurate with its status as a regulated investment firm under Finansinspektionen.

Chief Compliance Officer
Björn Wendleby
Advokat · Founding Partner
Harvest Advokatbyrå AB
Chief Risk Officer · AML Officer (CFA)
Carl Gothnier
Deputy CEO · Co-founder
Alnair AB
Internal Audit
Wictor Furman
Advokat · Founder
Force Advokatbyrå AB
External Auditor
Åsa Thelin
Authorised Public Accountant · Licensed for regulated financial entities · Partner
Forvis Mazars
Strategies

Five engines
of alpha

Every strategy we run is built in-house, fully automated, and designed to operate at the limits of what the market allows. Speed, precision, and risk control are non-negotiable across all of them.

01
Market Making
Market making is both a core strategy and a service we offer to exchanges, issuers, and other market participants. Under formal market making agreements, we provide continuous two-sided liquidity — keeping spreads tight and order books liquid across equities, ETPs, and ETFs. We manage and hedge all positions in our own books, absorbing risk so others don't have to. It is a business we are good at, and one we are actively looking to grow.
02
Cross-Border Arbitrage
Pure speed
We exploit pricing discrepancies across exchanges in real time. The fastest system wins — every time, with no exceptions. Deviations between venues can be down to microseconds. Our reaction time is in the single-digit microseconds. This is the purest expression of what our infrastructure is built to do, and we do a lot of it.
03
Statistical Arbitrage
Markets are driven by mathematics, but also by psychology, sentiment, flows, momentum, and sometimes outright panic. Pure mathematical models are correct in theory — but we need P&L now, with no drawdowns. Our statistical arbitrage strategies are fully automated, built on rigorous quantitative foundations, and pragmatically adapted to capture what the market is actually doing at any given moment. Mean-reversion when the math says so. Momentum when the market says so. The system learns, adapts, and executes — without dogma.
04
Digital Asset Trading
Fully operational in crypto, with live crypto asset trading on Kraken and OKX. We market make and hedge more than 80 crypto ETPs — the same infrastructure discipline and risk rigour as our traditional markets operation, applied to digital assets.
05
Proprietary Intraday Strategy
A strategy run across all liquid securities. Directionally agnostic, flat at open and close, structurally independent of historical data. Generates returns from microstructure noise with tightly bounded intraday risk. The strategy scales — capacity is not a structural constraint, and deployment can grow in proportion to ambition.
"Every strategy is an expression of the same conviction — that speed, precision, and disciplined risk management compound into a durable edge."
Markets

Where we trade,
we compete.

EquitiesNasdaq NordicEquities · ETPs · ETFs
EquitiesCBOE EuropeEuropean equities
DerivativesNasdaq Derivatives MarketsIndex futures
DerivativesSpotlightSwedish listed ETPs
FXSolid FXSpot FX execution
Digital AssetsKrakenCrypto asset trading · ETP hedging
Digital AssetsOKXCrypto asset trading · ETP hedging
Technology

Built from
first principles

We build everything in-house. Our technology stack is purpose-built for ultra-low latency execution — designed, written, and maintained by our own engineers. No off-the-shelf solutions. No compromises.

This extends far beyond execution. Our entire operation — trading, risk, portfolio management, and post-trade — runs as one unified system. Not integrated systems. Not connected silos. One system, one logic, all assets.

I
Ultra-Low Latency
Optimised at every layer for deterministic, single-digit microsecond execution.
II
Distributed Co-location
A unified system running at multiple exchange locations simultaneously, coordinated via a proprietary inter-server protocol.
III
Full Automation
No manual intervention during execution. Continuous monitoring and hard failsafes throughout.
IV
Risk Management
Hard limits enforced at infrastructure level. Real-time position, exposure, and greek monitoring.
One system.
One logic.
All assets.

Alnair operates a single unified platform — the same system running at multiple co-located exchange locations. Each server cluster handles its local exchanges. Together they behave as one.

Equities, derivatives, FX, and digital assets are all managed by the same unified logic, the same strategies, the same portfolio management system, and the same monitoring and GUI layer. Every position, every greek, every P&L — across all venues and all post-trade entities — managed centrally.

The clusters communicate via a proprietary inter-server protocol, coordinating across locations in real time. Post-trade data from ABN AMRO, Swedbank, Kraken, and OKX flows into the system via end-to-end straight-through processing (STP) — automatically, continuously, presented entity by entity or fully aggregated as the viewer requires.

1
Unified systemOne platform. Every server. Every location. Every asset class.
1
Portfolio management systemPositions, greeks, and P&L across all assets, all venues.
1
Strategy & monitoring layerSame logic. Same GUI. Every asset class.
4
Post-trade entitiesABN AMRO · Swedbank · Kraken · OKX — all STP into one view.
System architecture — simplified
Co-location · Stockholm
Nasdaq Nordic (Stockholm · Copenhagen · Helsinki)
Spotlight
Nasdaq Derivatives Markets
Server cluster
Unified system · Local execution
Co-location · Slough (LD4 Equinix)
CBOE Europe (EU · UK · Switzerland)
Solid FX
Kraken · OKX
Server cluster
Unified system · Local execution
Proprietary inter-server protocol · Real-time coordination
Unified platform — one system, one logic
Trading engine · Portfolio management · Strategy & monitoring · GUI
Distributed execution · Centralised view · All assets
Co-location decisions are continuously optimised based on trading volume and cost-performance at each venue.
↓
Prime broker
ABN AMRO
Bilateral settlement
Swedbank
Crypto post-trade
Kraken
Crypto post-trade
OKX

End-to-end straight-through processing

All post-trade data — from every entity — is read automatically into the central system via STP. Accounts, P&L, positions, settlement status, costs, and corporate events are delivered without manual handling, down to every detail.

The result: complete visibility across all assets and all entities, in real time. Entity by entity, or fully aggregated — the choice of the viewer. Nothing falls through the cracks.

All post-trade data flows into our system via STP in real time from ABN AMRO, Swedbank, Kraken, and OKX. Monthly financial uploads complete the picture — together giving us everything needed to generate, examine, and submit all regulatory and governance reporting. The only fully automated submission is transaction reporting (TRS), which is generated and sent daily to the relevant regulatory authorities.

Prime broker STP — ABN AMRO Accounts, P&L, positions and costs delivered automatically post-trade.
Bilateral settlement — Swedbank Full STP for bilaterally settled instruments.
Crypto post-trade — Kraken & OKX Digital asset positions and transaction costs read automatically into the central system.
Trade-to-settlement monitoring Every transaction tracked and reconciled through the full lifecycle.
Regulatory reporting Transaction reporting generated daily. Full MiFID II compliance.
Market surveillance & SBL Regulatory-grade surveillance and fully automated securities borrowing, integrated into the platform.
Regulatory

Authorisation
& compliance

Alnair AB is authorised and supervised by Finansinspektionen (FI) as an investment firm under MiFID II since December 2017, when authorisation was required ahead of the directive coming into force. We hold three specific authorisations covering the full scope of our trading operations, and operate in full compliance with all applicable Swedish and EU financial market regulations.

Authorisations
IProprietary trading — trading in financial instruments for own account.
IIFX trading — foreign exchange trading as an ancillary activity.
IIICrypto asset trading — specifically authorised for risk coverage purposes in connection with the firm's market making operations.
Supervisory authorityFinansinspektionen (FI)
Authorization no.40-5627
Authorization typeInvestment Firm (MiFID II)
Authorised sinceDecember 2017
LEI254900OPHMFR2KZ2AY02
Registration no.556913-4330
Documents & disclosures
Authorization at Finansinspektionen ↗ Capital Adequacy & Risk Management Report ↗ Compensation Policy ↗ Complaints Procedure ↗
Careers

Built lean.
By design.

Alnair is built to be small. Our technology stack — and our deliberate adoption of AI across all non-core functions — means one person can monitor trading across tens of thousands of instruments simultaneously. We do not need headcount to scale. That is the point.

We are not actively recruiting. We do not have open roles to fill. We are not looking to grow a team for the sake of it. The people here are the people we need — and we intend to keep it that way.

That said, exceptional talent has a way of changing plans. If you are genuinely outstanding — technically, intellectually, or as a trader — and you believe you belong here, we will always take the time to meet you.

Unsolicited — Exceptional only
We do not post roles. We do not run recruitment processes. If you have found us and you believe you are exceptional, send a short introduction telling us why. If we agree, we will be in touch. If the fit is right, we make it work.

Near-future need
Trading Operators — Crypto & Digital Assets

As our around-the-clock digital asset trading operation matures, we will need operators to cover the system during off-hours — monitoring live strategies, adjusting parameters, overseeing risk and positions, and escalating when needed.

We are not hiring for this today. But we are thinking about who we want. We are looking for young, hungry people who want a front-row seat at a serious HFT operation and are willing to put in the work to earn it.

You will not need to be a programmer. You will need to be sharp, calm under pressure, analytically minded, and genuinely interested in markets. You will be trained directly by our founding team — one of the most experienced groups in Nordic algorithmic trading.

As a start to a career in the Nordic financial industry, it does not get better than this. If this sounds like you, introduce yourself now. We are building a shortlist.

Settlement

Settlement
Instructions

Standard Settlement Instructions for counterparties settling transactions with Alnair — covering Euroclear Sweden, netting preferences, and settlement enquiry contacts.

Settlement Instructions ↗
Contact

Get in touch

General
Settlement

+46 8 511 611 31
Careers
Visiting address
Kungsgatan 33, 6tr
111 56 Stockholm, Sweden
Postal address
Box 7293
103 90 Stockholm, Sweden