(Bloomberg) -- Jane Street Group LLC, one of the largest market-making firms in the US, posted $14.2 billion of net trading revenue for the first three quarters of 2024, already surpassing the 12-month record it set last year.
Net trading revenue for the third period more than doubled on a year-over-year basis to $5.8 billion, according to people familiar with the matter, who asked not to be identified discussing confidential information. Added to the $8.4 billion that Jane Street amassed in this year’s first half, the total exceeds the $10.6 billion generated during all of 2023.
The haul shows just how big the market maker has become as it eyes ever-more growth. The results offer a rare glimpse into the closely held firm, which has dominated the exchange traded-funds space while expanding into credit trading. A representative for New York-based Jane Street declined to comment.
Adjusted third-quarter earnings before interest, taxes, depreciation and amortization jumped more than 140% from a year earlier to $4.3 billion, the people said.
Jane Street launched a $1 billion loan deal on Monday to refinance debt and add to trading capital, which allows the firm to continue to invest in the business. The market maker will have about $8.5 billion of unrestricted cash on its balance sheet following the new loan deal, one of the people said.
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