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Hudson River Trading posts record $11.4bn revenue in Q2 amid volatility
The firm reported $7.4bn in net profit for the three months through June and said it does not expect a repeat of losses seen at rival Jane Street in the current quarter.
Hudson River Trading generated record trading revenue of $11.4bn in the second quarter, with sharp market moves creating opportunities for the proprietary trading firm, according to a Financial Times report.
The outlet also cited a person familiar with the results, saying Hudson River produced $7.4bn in net profit for the three months through June and does not expect the current quarter to repeat losses suffered by rival Jane Street.
Market volatility tied to the war in Iran, along with dramatic swings in technology and artificial intelligence-linked stocks, benefited proprietary trading firms that use automated market making to exploit small price discrepancies across markets.
The firm is also expanding investment in artificial intelligence and computing infrastructure, with its head of AI, Iain Dunning, saying that the computing capacity available to Hudson River next year versus this year would increase dramatically as AI-powered trading systems evolve.