The rub is that their discrimination practices seem to care more about prestige over quality of CS programs.
Sure, go ahead and use quality of school as a filter, but don't go around discriminating against top public schools while accommodating what are honestly fairly mediocre CS programs at certain Ivies / prestige-private-schools.
They are not discriminating by quality of CS program. They are using exclusivity of a school as a proxy for some combination of potential and pedigree.
They don't discriminate against good public CS programs though? There are many interns from Berkeley for example. There also aren't that many SWE interns from e.g. Harvard - there are a lot of trading interns from HPY but that program recruits heavily from math departments, not just CS.
I'm not sure if people ITT are mixing up trading with engineering or projecting old Wall Street biases onto Jane Street, but it's just not true that they prioritize what school a SWE went to. I'm not claiming they pour recruiting resources into Mediocre U, but they don't automatically filter out any schools, and there aren't any schools that get an automatic interview either.
And most relevant here, any school bias that does exist is related much more to the CS department at that school than any kind of archaic prestige/exclusivity factor. Waterloo and CMU are among the most represented for SWEs there - very good schools but not exactly global brands.
Sure, go ahead and use quality of school as a filter, but don't go around discriminating against top public schools while accommodating what are honestly fairly mediocre CS programs at certain Ivies / prestige-private-schools.