November 17, 2021
Markets

Jane Street and DRW Traders Made Billions in Pandemic Markets

Proprietary trading shops are a notoriously secretive bunch, so it can be almost impossible to know how successful they are.

But some now fund their businesses partly with loans, meaning their financial results are quietly floating around Wall Street. They show extraordinary gains amid the turmoil caused by the pandemic.

Jane Street Group LLC is among them. The major player in bond exchange-traded funds saw revenue jump 54% to $10.6 billion during the year ended in March 2021, while Ebitda, an earnings measure important in loans, surged 59% to $7.8 billion, according to lenders who’ve been briefed on the company’s financials.

Those are smaller numbers than those at the largest Wall Street banks, but not that far behind. That makes Jane Street one of the most dominant forces in all of trading.

At futures, options and cryptocurrencies trader

Read full article here: www.bloomberg.com