(Bloomberg) — Citadel Securities and Jane Street Group LLC, two of the largest market-making firms in the U.S., are on track for record annual revenue as they increasingly encroach on the big banks’ trading turf.

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First-half net sales rose 81 percent to $4.9 billion from the same period a year earlier at Citadel Securities and 78 percent to $8.4 billion at Jane Street, according to people familiar with the matter. Both figures were well above the pace needed to achieve a record annual total.

The results offer a rare glimpse into the private companies investing in technology and talent to steadily expand their market-making capabilities in equity and fixed income trading around the world.

Jane Street dominated the exchange-traded-funds space while expanding into credit trading. Citadel Securities recently began trading in corporate bonds, starting with investment-grade bonds, and has also begun electronic trading in euro and sterling interest rate swaps.

Jane Street said in an update to investors last week that recent growth has been driven by continued high volumes of equities and options, as well as strong inflows into exchange-traded funds.

Earlier this year, the company sold a $1.4 billion high-yield bond to boost its balance sheet cash position, allowing it to continue investing in the business, the sources said, asking not to be named or provide nonpublic information.

Ken Griffin’s Citadel Securities generated $2.7 billion in adjusted profit in the first half, up from $1.1 billion a year earlier, the people said. The second quarter contributed $2.6 billion in net trading revenue and $1.4 billion in adjusted profit, they said.

Adjusted profits for the first half of the year at Jane Street were about $6.1 billion, nearly double the $3.1 billion a year earlier. About $2.9 billion of this year’s total came in the second quarter, when the company had $4 billion in net trading revenue.

A spokesman for Citadel Securities declined to comment, and Jane Street also declined to immediately comment.

The figures are part of a series of financial indicators recently released to investors who lend money to the two companies.

By comparison, Wall Street’s largest banks saw their combined stock trading revenue rise 18% in their second-quarter results, more than three times the increase analysts had expected.

Citadel Securities ended the quarter with approximately $3.9 billion in unrestricted cash and $15.3 billion in net trading capital. Jane Street had approximately $5.7 billion in cash on its balance sheet.

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