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Under siege, JPMorgan to quit physical commodities

Posted on 29 July 2013

JPMorgan Chase & Co is exiting physical commodities trading, the bank said in a surprise statement, as Wall Street’s role in the trading of raw materials comes under unprecedented political and regulatory pressure.
After spending billions of dollars and five years building the banking world’s biggest commodity desk, JPMorgan said it would pursue “strategic alternatives” for its trading assets that stretch from Baltimore to Johor, and a global team dealing in everything from African crude oil to Chilean copper………………………………………..Full Article: Source


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