JP Morgan cashes in on "prop" trading

Discussion in 'Trading' started by Arnie, Jun 3, 2003.

  1. Arnie


    Posted this am at

    07:32 ET JP Morgan Chase cashes in on profits from "prop" trading group -- WSJ (JPM) 33.92: The Wall Street Journal's "Heard on the Street" column discusses J.P.Morgan's runup in stock price and cites concerns over the co still being involved in what the article describes as "risky" businesses. Profits have been increasing recently due to a small and low profile group of traders making big bets with the firm's money. Apparently, an eight man New York team has pulled in more than $100 mln of trading profit with the co suggesting it is a result of better market conditions and not greater risk.
  2. Yes, makes sense... the market has definitely been very co-operative lately...