Here’s a back of the envelope: the global GDP is about 100 Trillion USD [1]. The annual volume of Fedwire transactions is about 1 Quadrillion USD [2]. The Fed d

Here’s a back of the envelope: the global GDP is about 100 Trillion USD [1]. The annual volume of Fedwire transactions is about 1 Quadrillion USD [2]. The Fed does not disclose volumes by bank, but let’s make the assumption they are roughly proportional with the AUM of the bank. JPMorgan has a 25% market share when calculated by AUM [3]. So a rough approximation would be that the volume of Fedwire transactions where JPMorgan is one of the counterparties is more than twice the global GDP. [1] https://en.m.wikipedia.org/wiki/Gross_world_product https://en.m.wikipedia.org/wiki/Gross_world_product [2] https://www.frbservices.org/resources/financial-services/wires/volume-value-stats/annual-stats.html https://www.frbservices.org/resources/financial-services/wir... [3] https://www.statista.com/statistics/727548/market-share-top-banks-thrifts-usa-by-assets/ https://www.statista.com/statistics/727548/market-share-top-...