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JPMorgan's traders reaped up to US$300m amid Swiss turmoil: sources

Thursday, January 29, 2015 - 05:50

The SNB's surprise decision on Jan 15 to remove the three-year-old cap sent the franc soaring as much as 41% against the euro that day.


JPMORGAN Chase & Co's foreign-exchange traders reaped a gain of as much as US$300 million after the Swiss central bank roiled markets by abolishing its cap on the franc, according to two people with knowledge of the matter.

The bank netted US$250 million to US$300

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