Jane Street beats JPMorgan and Goldman Sachs with record USD10.1b trading haul
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The news: Trading firm Jane Street’s revenues more than doubled in the second quarter to USD10.1 billion ($15.5 billion), blowing past the largest banks on Wall Street and eclipsing USD10 billion in a single three-month period for the first time, financial media reported citing unnamed sources.
The numbers: The result topped JPMorgan Chase’s USD8.9 billion and Goldman Sachs’s USD7.8 billion in trading revenue and pushed Jane Street’s first-half total to USD17.3 billion.
Jane Street posted USD6.9 billion in net income during the second quarter, compared to USD2.4 billion a year earlier.
The context: The figures came after a surge of market activity following US President Donald Trump’s tariff announcements, which intensified volatility and drove trading volumes.
By contrast, JPMorgan, Goldman and Citadel Securities reported a slowdown in trading revenues between the first and second quarters, The Financial Times reported, citing a person familiar with the matter.
Jane Street also raised USD1.4 billion of debt in April and has borrowed more than USD5 billion since January 2024, according to S&P Global.
The company has also been drawn into a probe in India, where the regulator accused it of a “sinister scheme” to manipulate options markets, allegations it told staff it plans to dispute.
The sources: Bloomberg, The Financial Times
