Prime brokerage boom generates big third-quarter windfall for Wall Street banks

Wall Street Banks Notch $15 Billion Trading Haul on Stock Rally

Wall Street’s banner first half in trading was based on handling tariff-induced market chaos. The third quarter showed the biggest banks can also seize on the stock market’s steady march higher.

Prime brokerage boom generates big third-quarter windfall for Wall Street banks

Prime brokerage boom generates big third-quarter windfall for Wall Street banks Wall Street's multibillion-dollar prime brokerage machinery is firing on all cylinders.In the latest quarter, the largest U.S. banks led by JPMorgan Chase, Goldman Sachs, and Bank of America flagged big profits from the booming business of prime brokerage, which involves lending cash and securities to hedge funds to help execute large trades. The prime brokerage busi…