Wall Street's multibillion-dollar prime brokerage machinery is firing on all cylinders. In the latest quarter, the largest U.S. banks led by JPMorgan Chase, Goldman Sachs, and Bank of America flagged big profits from the booming business of prime brokerage, which involves lending cash and securities to hedge funds to help execute large trades.

The prime brokerage business on Wall Street has benefited this year from surging valuations of companies across sectors, with some banks warning that asset prices may be unsustainably high. For now, however, top U.S. lenders are scrambling to grab more market share against each other and European rivals, as trading activity has surged this year due to global market volatility triggered by the Trump administration's tariff policies.

The number of ne

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