Jane Street’s growing pains | FT #shorts
Financial TimesOne of the most profitable firms on Wall Street just lost money for the first time in a decade. Jane Street is a so-called prop trading firm. The stake in Leopold Aschenbrenner’s hedge fund and positions in AI stocks were the main factors behind a huge $15bn loss in trading revenues, after a bruising sell-off in the sector during July. The loss was a stunning reversal for a firm whose returns had become the envy of Wall Street. It also made clear just how far the secretive company has evolved from its roots as a nimble market maker and arbitrage trader, profiting from tiny differentials in asset prices over fractions of a second, explains the FT’s Jill Shah. ► Enjoying FT content? Get a daily slice of the very best FT journalism with FT Edit. Free for 30 days then just £4.99 a month See if you get the FT for free as a student (http://ft.com/schoolsarefree) or start a £1 trial: https://subs.ft.com/spa3_trial?segmentId=3d4ba81b-96bb-cef0-9ece-29efd6ef2132. ► Check out our Community tab for more stories: https://www.youtube.com/@FinancialTimes/community ► Listen to our podcasts: https://www.ft.com/podcasts ► Follow us on Instagram: https://www.instagram.com/financialtimes ► Follow us on Instagram: https://www.tiktok.com/@financialtimes