Add Bank of America to the List of Successful Traders in the First Quarter


Looks like Goldman and JPMorgan traders aren’t that remarkable after all. Bank of America scored positive net revenue on its trades every single day last quarter. Here’s the breakdown:

Revenue was more than $25 million 95 percent of the trading days in the first quarter, with the firm chalking up gains of over $125 million on 16 trading days between $75 million and $100 million on another 16 days. BofA said the gains were due to “more effective positioning” and “market conditions.”


Take That Lloyd: JPM Traders also Had a Perfect Quarter

Goldman Sachs traders aren’t the only ones on Wall Street to make money on every single trading day last quarter. JPMorgan had average daily trading revenue of $118 million for the quarter and never ended a day with a net loss, according to a filing on Monday.

UBS Trader Pleads Guilty in Massive Bid Rigging Scandal

Mark Zaino, a former UBS trader who worked on the firm’s derivatives and municipal securities desk, pleaded guilty to fraud and conspiracy charges today in the wide-ranging investigation into sham auctions and bid rigging in financial products sold to municipalities.

Goldman Traders Never Had a Down Day

Goldman Sachs just revealed in an SEC filing that its traders made money on every single trading day last quarter, a record for the firm. Net revenue for trading was $25 million or higher in all of the first quarter’s 63 trading days with 35 of those days bringing in more $100 million, according to the filing.