JPMorgan Cuts Ties with Jane Street Amid Wall Street Rivalry

JPMorgan Chase & Co has scaled back financing to Jane Street, a quantitative trading firm that's been expanding into U.S. Treasury market-making.

The move highlights friction between legacy dealers and non-bank trading firms like Jane Street, which is capturing market share in fixed-income markets.

JPMorgan cut Jane Street's credit lines by about 5%, but the firm's top-line performance wasn't affected.

This isn't an isolated incident: major investment banks are re-evaluating their exposure to algorithmic trading competitors like Citadel Securities and Jane Street.