曾在小红书晒出2350万美元（约合人民币1.67亿元）年薪的吴舰，正面临美国证券交易委员会和美国司法部的民 事刑事双重起诉。 近日，美国司法部表示，吴舰被指控犯有电汇欺诈、证券欺诈和洗钱罪。 美国司法部还表示，34岁的吴舰是一名居住在纽约的中国公民，目前处于在逃状态，无法立即确定他的律师。 根据吴舰的Linkedin（领英）简介，他在2011年取得了清华大学的工学学士学位，并于2017年从美国康奈尔大学 获得了哲学博士学位。 名校毕业的吴舰曾在美国知名做市商Citadel（城堡投资）实习，于2018年4月加入顶尖量化对冲基金Two Sigma， 从量化研究员做起，三年时间不到就升任Two Sigma量化研究部的副总裁，2023年1月，工作不到五年的吴舰被提 拔为高级副总裁。 吴舰2023年曾在小红书"悄悄炫富"，并称"不敢发朋友圈，自己心态还是太年轻，想找个没人认识的地方偷偷炫耀 下......"。该帖子显示，其2022年的薪资相较往年出现暴涨，高达2350万美元。 Two Sigma于2024年解雇了吴舰，并赔偿了客户的损失。 每日经济新闻综合公开消息、上海证券报等 （文章来源：每日经济新闻） 根据报道，正 ...

Group 1 - Jane Street's trading revenue surged by 150% in Q2 2025, reaching $10.1 billion, surpassing traditional Wall Street giants like JPMorgan ($8.9 billion) and Goldman Sachs ($7.8 billion) [1][2] - The company's profit increased from $2.4 billion in the same period last year to $6.9 billion, with $1.9 billion distributed as bonuses to employees [2][3] - Market volatility, driven by Trump's tariff policies and pressure on the Federal Reserve, has created more trading opportunities for market makers like Jane Street [3] Group 2 - Jane Street has raised significant capital through corporate bonds, signing $1.4 billion in debt in April and borrowing over $5 billion since the beginning of 2024 [4] - The company faced regulatory challenges in India, where it was accused of manipulating the derivatives market and allegedly profiting illegally by $560 million [4] - After paying $560 million into an escrow account, Jane Street temporarily regained its operating rights in India, while investigations continue [4]

Core Viewpoint - Non-bank market makers, represented by firms like Jane Street, Citadel Securities, and Hudson River Trading, are rapidly reshaping Wall Street's trading landscape through significant investments in technology and talent, capitalizing on market volatility caused by trade wars, and increasingly capturing market share from traditional banks [1] Group 1: Financial Performance - Jane Street generated $10.1 billion in trading revenue in Q2 2025, surpassing JPMorgan's figures for the same period [1] - Hudson River Trading's trading revenue doubled to $2.6 billion [1] - Citadel Securities achieved a record trading revenue of $5.8 billion in the first half of the year [1] Group 2: Market Dynamics - Electronic market makers utilize advanced technology to quote and execute trades on a large volume of bonds at high speed and low spreads, compensating for the decline in profit per trade [1] - Citadel Securities and Jane Street are expanding into fixed income markets, including corporate bonds and government bonds in the US, UK, and Europe [1] Group 3: Impact on Traditional Banks - Traditional banks are retreating from certain trading businesses due to increased regulatory costs post-crisis, exemplified by Morgan Stanley's closure of its electronic market-making business, which was subsequently acquired by Citadel Securities [1]

Core Insights - A new force is reshaping the lucrative trading business landscape on Wall Street, with high-frequency trading firms like Hudson River Trading and Citadel reporting significant revenue growth [1] - The trading income of Hudson River Trading doubled to $2.6 billion, while Citadel achieved record revenues of $5.8 billion in the first half of the year [1] - Jane Street's net trading income reached $10.1 billion in Q2, surpassing all major Wall Street banks [1] - The three major market makers collectively earned nearly $30 billion in trading income, benefiting from market volatility following the Trump tariff wars [1] Technology-Driven Trading Revolution - Electronic market makers leverage cutting-edge technology to quote prices for a wide range of assets, executing trades at high speed and with minimal spreads [2] - Although this model reduces profit margins per trade, the high trading volumes compensate for this, ultimately creating economies of scale [2] Expansion of Trading Giants - The business scope of these trading giants has expanded beyond their initial focus, with increased electronic trading opportunities in fixed income markets [3] - Citadel, once known for its dominance in the U.S. equity market, has now incorporated corporate bond trading into its fixed income business and is also involved in government bond trading in the U.S., U.K., and Europe [3] - Jane Street, initially focused on trading American Depositary Receipts (ADRs), has expanded into ETF trading on U.S. exchanges and now holds a dominant position in that asset class [3] Traditional Banks Retreat - While non-bank market makers thrive, traditional banks are retreating in trading operations due to post-financial crisis regulatory constraints that increase the cost of proprietary trading [4] - Morgan Stanley closed its electronic market-making division for U.S. stock options earlier this year, which was subsequently acquired by Citadel, providing Citadel with a substantial portfolio of stock option positions [4] - As banks lose competitiveness in trading, clients are likely to turn to institutions that can offer them the best prices directly [4] Banks' Remaining Advantages - Despite the challenges, banks still possess advantages due to their large balance sheets, which are crucial for clients needing significant capital [5]

Core Insights - Citadel Securities reported a decline in net trading revenue for the second quarter, but overall revenue for the first half of the year reached a record high due to geopolitical tensions and market volatility caused by Trump's tariffs [1] Financial Performance - Net trading revenue decreased by 8.4% to $2.39 billion in the second quarter [1] - Despite the quarterly decline, total revenue for the first half of the year hit a record $5.77 billion [1] - The company's net profit for the first half of the year grew by 20%, reaching a record $2.66 billion [1] - However, net profit for the second quarter fell by 23% to $922 million [1] Market Context - The increase in market trading volume has been beneficial for banks and market makers since the implementation of tariffs by Trump earlier this year [1]

Core Viewpoint - The Securities and Exchange Board of India (SEBI) has temporarily banned the US market maker Jane Street from the Indian securities market due to allegations of index manipulation, and plans to confiscate illegal profits amounting to 48.4 billion rupees (approximately 570 million USD) [1] Group 1 - SEBI's announcement was made on July 3, indicating the regulatory body's active role in monitoring market activities [1] - Jane Street has disputed the findings of the investigation, suggesting potential legal challenges ahead [1] - The confiscation of 48.4 billion rupees highlights the severity of the allegations and the regulatory response [1]

Group 1 - Jane Street Capital reported a nearly doubled trading revenue of $20.5 billion in 2024, a 94% increase from 2023, with net profit reaching $12.96 billion, significantly up from $5.9 billion in 2023, comparable to Goldman Sachs and Morgan Stanley [1] - In Q1 2025, trading revenue further increased to approximately $7.2 billion, over 60% year-on-year growth, surpassing Morgan Stanley's $6.7 billion and approaching Goldman Sachs' $8.6 billion [1] - The company is leveraging high-yield bond issuance to strengthen its balance sheet amid market volatility caused by tariff policies, presenting an investment opportunity during uncertain times [1] Group 2 - Jane Street Capital successfully issued an 8-year bond with a coupon rate of 6.75%, approximately 2.45 percentage points higher than similar-term U.S. Treasury yields, reflecting a risk premium demanded by investors [2] - The company's role as a market maker, particularly in the ETF sector, has enhanced its profitability, especially as traditional banks face regulatory constraints limiting their risk-taking abilities [2] - Fitch Ratings assigned a "BB+" expected rating to Jane Street's new bonds, the highest rating for speculative-grade debt, indicating that the company's growth provides a meaningful buffer against potential operational losses [2]