Markets
Jane Street's volatility machine prints like a megabank
Jane Street earned more than $10bn in net income in the first quarter on $16.1bn of trading revenue, putting the private trading firm near the biggest Wall Street banks. Market stress from the Iran war and energy shocks created the kind of volatility where electronic market makers can out-earn much larger public institutions. The deeper shift is Jane Street's move beyond ETF plumbing into medium-frequency machine learning strategies and private AI stakes.
Source: FT