JP Morgan regains its crown in stock trading










Photo credit © Reuters


(Boursier.com) – JP Morgan Chase & Co regains the top step of the podium. For the first time since at least 2006, the bank generated more revenue from its equity trading business (nearly $ 3.1 billion) than any other competitor. “We have caught up with the delay, but our aim is to consistently be number one,” said Jason Sippel, head of global equities at JP Morgan, in an interview with “Bloomberg”, citing a record performance in derivatives. and in “exotic” products. “There were no major transactions, but a lot of things went well.”

According to data from the Greenwich Coalition, JP Morgan, Morgan Stanley, Goldman Sachs, Citigroup and Bank of America recorded a 9% increase in revenues from their equity trading activities in the second quarter compared to the previous year, with revenues from derivatives On shares up 15%. .

Of the nine major investment banks that have released quarterly reports so far, Credit Suisse – which posted a larger-than-expected second-quarter loss last month and replaced its CEO – is the most vulnerable actor. . The Swiss bank, badly affected by the Archegos deal, reported a 33% drop in its equity market revenues (in dollars) to $ 342 million. Barclays also suffered in the quarter ended with revenues down almost 25%.


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