About

Where zero becomes origin.

Shunya — from the Sanskrit śūnya, meaning void, zero, the point from which everything begins. We believe the deepest insights come from first principles: strip a problem to its irreducible core, then build back with precision.

Philosophy
01

Rigour without rigidity

Theory informs, but markets decide. Every model is a lens — useful until it isn't. We hold assumptions lightly and test them relentlessly.

02

Silence as signal

The most important information is what the order book doesn't show. We read the gaps — hidden liquidity, cancelled depth, the absence of a quote — as carefully as the prints.

03

Patience as edge

The Zen of execution: wait for the trade to come to you. Urgency is a cost. Our work is designed to reduce it — in schedules, in models, and in decisions.

The conviction

Rigorous theory and real-world market practice are not in tension — they are complementary. We work where order books form, where information becomes price, and where execution quality determines performance. Every engagement produces a written artefact: a memo, a specification, or a working paper — not a deck as the sole output.

Principal

Aryan Ayyar

Founder · Fellow-in-Residence, MAHE Bengaluru

Researcher in market microstructure and quantitative finance. Work spans limit order book dynamics, optimal execution theory (Kyle, Almgren–Chriss), volatility surface calibration, and the pedagogy of quantitative methods. Published in asset pricing and financial econometrics, with research deployed across trading desks and academic institutions in India and Hong Kong.

Education & Affiliations

  • Master's ResearchHong Kong Polytechnic UniversityDynamic order execution mechanisms under Te Feng Chen
  • Fellow-in-ResidenceMAHE BengaluruMarket microstructure, quantitative pedagogy, and applied research
Capabilities
Market microstructure advisoryOptimal execution strategiesVolatility surface calibrationResearch collaborationQuantitative mentorshipExecution Algorithms