...October 17, 2024 COLUMBIA (S&P Global Ratings) Oct. 17, 2024--S&P Global Ratings today assigned its '##' issue rating to Jane Street Group LLC's announced issuance of senior secured notes due 2032 (around $1 billion). Although the company is expanding its trading operations quickly, we believe its funding and capital position remain consistent with our current ratings. The company's capital position remains solid and a strength for the rating thanks to record net income this year and strong earnings retention accreting to the capital base. We expect Jane Street's risk-adjusted capital ratio to remain well in excess of 13% pro forma for the debt issuance (versus 16.0% at the end of June 2024), one of the highest ratios of the high-frequency trading firms we rate globally. Jane Street has added $3.85 billion in stable funding this year, supporting the company's funding position overall. Specifically, this year, it has issued $3 billion of notes (including today's issuance) and two term loan...
