Hudson River Trading posted $11.4 billion in trading revenue in the second quarter of 2026, a single-quarter record for the quantitative market maker. This amount nearly matches the firm’s entire 2025 revenue of $12.3 billion. In the first quarter of 2026, the firm had already generated $6.4 billion, up 135% year-over-year, with profits of approximately $4.2 billion. Combined first-half 2026 trading revenue reached roughly $17.8 billion. This exceptional performance stems from market volatility, which widens bid-ask spreads that quantitative market makers like HRT exploit, competing against rivals such as Jane Street and Citadel Securities.
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