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US trading revenue gains come with a risk warning

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S&P Global analysts have warned that global banks’ financing of market makers is increasing profits but also ratcheting up risk – while US banks’...

JPMorgan focuses on EA buyout debt, delays Qualtrics

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Market sources have told The Desk that JP Morgan delayed the Qualtrics debt sale rather than force pricing into a market weakened by AI-related...

Citi, RBC strategies join Tradeweb algo execution suite

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Tradeweb has added strategies from Citi and RBC Capital Markets to its dealer algo execution services suite for US Treasuries. The company launched the suite...

Origination: Citi issues first digitally-native structured note

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Citi has issued a digitally-native structured note on Euroclear's digital financial market infrastructure (D-FMI) distributed ledger technology (DLT) platform. The note is an autocall with...

Cicada plans LatAm e-trading expansion with US$13.5mn funding round

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Cicada has raised US$13.5 million in its Series A funding round, intending to expand its LatAm e-trading offering. The company aims to offer electronic trading...

Mixed results at dealers as rates and FX power US Q4...

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JPMorgan had the largest fixed income, currencies and commodities (FICC) revenues amongst US banks at US$5.4 billion for the last quarter of 2025 with Goldman showing the strongest year on year growth on rates and FX trading. Citi and BofA FICC results were...

Origination: Citi bulks up Aussie syndication team

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Citi has expanded its syndication team in Australia, appointing Jessica Rowe as director of spread products syndication for Australia and APAC and naming Dane...

Clifford drops Citi for BlackRock

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Head of trading Paul Clifford has left Citi after more than a decade with the firm, joining BlackRock as a senior multi-asset trader. He is...

Banks buy into LSEG’s Post Trade Solutions

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Banks using LSEG’s post-trade solutions have taken a 20% stake in the business, paying £170 million for the shares. The transaction is expected to close...

Landry leads German and Austrian markets at Citi

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Sophie Landry has been named head of markets for Germany and Austria at Citi. Based in Frankfurt, she reports to European head of markets Fabio...

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