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Wall Street Banks Trampled All Over Their European Rivals in 2018

  • Most U.S. firms gained share in both fixed income and equities
  • After reclaiming some ground in 2017, European banks slid
Outside the JPMorgan Chase & Co. headquarters in New York. 

Outside the JPMorgan Chase & Co. headquarters in New York. 

Photographer: Scott Eells/Bloomberg

JPMorgan Chase & Co. gained some of the biggest shares in both fixed-income and equities trading last year, solidifying its leadership in one and nearing the top in the other. Deutsche Bank AG lost ground in both markets while trying to restructure its business.

JPMorgan’s share of the $77 billion pool of revenue that banks generated handling investors’ bets on bonds, currencies and commodities rose by more than a percentage point. Its cut of the $53 billion market for trading stocks and related derivatives also increased. The fixed-income pie shared by all banks shrank 6 percent from 2017, but in equities it grew 14 percent.