New York: Jane Street Group pulled in a record $10.1 billion in net trading revenue in the second quarter, beating out all of Wall Street’s biggest banks as the market-making giant reaped the benefit of trade war volatility.
The revenue figure more than doubled from a year earlier, according to people with knowledge of the matter, pushing Jane Street’s first-half trading revenue to an all-time high of $17.3 billion, the people said, asking not to be identified discussing non-public information.
Volume has remained elevated since President Donald Trump imposed a raft of tariffs on countries around the world at the beginning of this year. The upheaval sparked demand for trading services as investors repositioned themselves for the new economic landscape, a boon for banks and market makers who help clients buy and sell assets.
