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

Author:
Publish date:

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.”

Related

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.