Jane Street Records $39.6 Billion in Net Trading Revenue, Surpassing Rivals
Market maker's performance boosted by volatility and private startup investments, including AI firm Anthropic.
Hızlı Bakış
- Jane Street achieved a record $39.6 billion in net trading revenue last year, outperforming competitors like Citadel Securities and Hudson River Trading.
- The surge was driven by market volatility and gains from its investments in private startups, notably AI firm Anthropic.
Yapay zekâ özeti
Jane Street, Wall Street's leading market maker, generated a record $39.6 billion in net trading revenue last year, surpassing its biggest high-speed trading rivals and several investment banks, according to documents seen by Reuters and people familiar with the matter.
The latest performance put Jane Street well ahead of its nearest competitors, including Citadel Securities and Hudson River Trading. The revenue cements its position at the top of the pecking order, as market makers capitalized on heightened market volatility last year to generate record profits.
In 2025, Citadel Securities posted trading revenue of about $12.2 billion, up 25% from 2024, according to sources familiar with the matter, who requested anonymity as the performance figures are confidential. Hudson River Trading reported trading revenue of about $12.3 billion last year, the sources said.
Jane Street declined to comment.
Jane Street, which has 3,500 employees, provides market liquidity by buying and selling a range of financial products, including ETFs, equities, bonds, options, commodities and currencies on exchanges and trading venues worldwide.
A jump in the valuation of its stakes in several highly valued private startups, including AI lab Anthropic, also boosted the firm's profits last year. Its capital markets unit invests in private companies throughout their lifecycle, from seed stage to going public.
It also houses a hedge-fund-like operation that holds positions in asset classes over several weeks and months and provides liquidity over a longer period.
Jane Street has not taken on any outside capital. Its capital structure allows the firm to take larger positions when providing liquidity and hold such positions through periods when such risks pay off.
Wall Street's leading banks have also enjoyed a boom in trading profits in recent quarters. Market volatility tends to benefit trading desks at large banks and algorithmic trading firms as investors adjust portfolios to hedge against risks. JPMorgan Chase generated $35.8 billion in trading revenue last year. Goldman Sachs, Wells Fargo and Citigroup also reported a jump in first-quarter trading revenue.
