Trading revenue at market-making firm Hudson River Trading rose in 2025 toward a record level as volatile markets helped lift results globally for companies that step in to match buyers and sellers.
Initial estimates show the firm generated about $12.3 billion in net trading revenue in 2025, according to people familiar with the matter. That included about $3.3 billion of net trading revenue in the last three months of the year, said the people, asking not to be identified discussing the private results.
