JP Morgan Established a Perfect Trading Record for Three Quarters of 2010

HFT works!


I bet Assistant U.S. Attorney Joseph Facciponti has already deeply regretted saying this:

Goldman Sachs Loses Grip on Its Doomsday Machine (Bloomberg)

It wasn’t just Goldman that faced imminent harm if Aleynikov were to be released, Assistant U.S. Attorney Joseph Facciponti told a federal magistrate judge at his July 4 bail hearing in New York. The 34-year-old prosecutor also dropped this bombshell: The bank has raised the possibility that there is a danger that somebody who knew how to use this program could use it to manipulate markets in unfair ways.”

And Goldman Sachs and JP Morgan would never manipulate the markets in unfair ways, or would they? ROFL!

Some related info on HFT:

Joe Saluzzi on High-Frequency Trading: The Equity Market Is Now Controlled By The Machines

Joe Saluzzi of Themis Trading on High Frequency Trading (Bloomberg)

China Has Built The Fastest Supercomputer Ever Made, Wrests Title From US (New York Times)

All You Need To Know About High Frequency Trading: ‘Sell Everything, And Shutdown’; 4 Years Without A Loss

Feb. 15 (Bloomberg) — JP Morgan Chase & Co. racked up a perfect trading record for the second half of last year, making money every day after accomplishing the same feat in the first three months of the year.

Traders at the New York-based bank made an average of $76 million a day last year, down from $84 million in 2009, according to an investor presentation today at the bank’s New York headquarters. The investment bank lost money on eight days last year, all in the second quarter.

“We don’t expect that to be repeated,” said Jes Staley, chief executive officer of the investment bank. “I imagine I’ll be up here next year and you’ll see a number higher than eight, but I think it underscores how well we’ve been managing our business.”

By comparison, JP Morgan had 42 days of losses in 2009, 97 in 2008, 46 in 2007, 33 in 2006 and 52 in 2005, according to the presentation. JP Morgan’s average daily trading revenue was $21 million in 2008, $39 million in 2007, $47 million in 2006 and $37 million in 2005, according to the data.

Banks have relied on trading profit to make up for weak earnings or losses tied to consumer banking. Charlotte, North Carolina-based Bank of America Corp., which hasn’t reported its fourth-quarter trading results yet, also posted perfect trading records in the first and third quarters. Traders at Goldman Sachs Group Inc. and Citigroup Inc. also made money every single day in the first quarter.
U.S. Role

The perfect trading results are rare and were primarily driven by the Federal Reserve’s programs buying mortgage bonds and U.S. Treasury securities. That’s driven trading volumes higher, boosted asset values and provided backup liquidity in the markets, analysts say.

“It gives traders a buyer of last resort and confidence that they have an outlet if some goes wrong,” said Paul Miller, a former examiner for the Federal Reserve Bank of Philadelphia and analyst at FBR Capital Markets in Arlington, Virginia. He said the strategy keeps bears on the sidelines in the fixed- income markets. The results are “driven by the Fed, not really any expertise of any trading desk.”

By Dawn Kopecki – Feb 15, 2011 8:56 PM GMT+0100

Source: Bloomberg

2 thoughts on “JP Morgan Established a Perfect Trading Record for Three Quarters of 2010”

  1. Tags: Silver Gold Insider Trading Flash Crash Rigged Markets High Frequency Trading
    Why are all commodities gaining (HUGELY!) while the U.S. Dollar seriously staggers, like a drunken sailor? Why is there no incentive for new business startups, or true innovation? Why? Because the Market is RIGGED. Bernard Madoff made ONE BIG mistake – he ripped off RICH people. Wall St. rips us all off, every day.

    What is needed, is to cut out, entirely, from the U.S. economy, the Rothschild-owned Goldman Sachs’ ‘Fed’. Print U.S. Notes, through the U.S. Treasury, and have those backed by gold. Re-monetize silver. Any attempt to restore ‘honest money’ and re-introduce a ‘gold standard’ must cut out the foreign-owned central banks, and print any currency as U.S. Notes, via the US Treasury – with no role, whatsoever, for foreign-owned, central banks…

    Bob Chapman Explains Silver Market Manipulation, Take Down By Bullion Banksters!

    650 Years Ago:
    How Venice Rigged the First, and Worst, Global Financial Crash by Paul Gallagher Printed in the American Almanac, September 4, 1995.
    (Comment: International Bankers, Rothschilds, Rockefellers, et al (Ashkenazi/Khazarian ‘Jews’) – sit atop the secret society structure, globally. Fiat (paper) money is their game. All foreign currencies are pegged to the US Dollar, and the US Dollar was taken OFF the gold-standard, in 1971, under tricky-Dick Nixon. The U.S. Dollar is constantly on the precipice, ready to CRASH, at a moment’s notice, along with ALL the other fiat (paper) currencies. This is why they viciously attack the price of silver. ‘Venetian’ Bankers infiltrated the British Empire, and created Freemasonry. They infiltrated the American Empire, on numerous occasions. President Andrew Jackson ‘killed the [Central] Bank’ – that’s what it says on his gravestone – ‘I killed the bank’. Freemasonry (like the Bolsheviks were, and the ADL) is, fundamentally, ‘Jewish’ ( Governments, globally, tend to have a disproportionate membership in Freemasonry. Any wonder then, that governments are more into serving the Bankers (Ashkenazi/Khazarian ‘Jews’), than they are in serving their own people/citizens? (Hmm…Caesar, Kaiser, Khazar…very interesting!)

    How The Venetians Took Over England and Created Freemasonry
    Conference Address by Gerald Rose, Schiller Institute Conference, September, 1993
    Printed in The American Almanac, November 29, 1993

    The Secret of Oz (William T. Still)

    The Money Masters (William T. Still)

    New World Order: Ancient Plan of Secret Societies (William T. Still)

    The History of the Money Changers

    “Economists continually try and sell the public the idea that recessions or depressions are a natural part of what they call the ‘business cycle.’ The timeline below will prove that is simply not the case. Recessions and depressions only occur because the Central Bankers manipulate the money supply, to ensure more and more is in their hands and less and less is in the hands of the people. Central Bankers developed out of money changers, and it is with these people we pick up the story in 48 B.C. below:”

    Do You Know Where You REALLY Live?

    The ‘American’ Empire, since the establishment of the so-called ‘Federal’ ‘Reserve’ in 1913 (owned by Goldman Sucks/Rothschilds) – has been an extension of the British Empire/City of London/’Crown Corporation’/Rothschilds, et al. This is why the American Military is used as a ‘global’ police force. Primarily in the Middle East (Afghanistan, Iraq, Libya, etc.) – to use up the foreign oil resources, BEFORE tapping into the vast oil and natural gas resources that exist right here in the U.S., as well as to establish a central bank or fiat currency system there – tied to the US Dollar, of course! And, to rape these countries of all their economic and natural resources! Ultimately, their wish is to destroy the national economies of the world (can you say Greece? Ireland?) – introduce a one-world currency (just ask George Soros) – possibly destroy this, too (then offer another of THEIR pre-planned “solutions”) – always toward more centralized control over every living and non-living thing on the planet! And, their ultimate STATED goal? De-population.

    Crash JP Morgan – Buy Silver! Episode 96, The Keiser Report

    The Silver Bullet and the Silver Shield “The BEST article written on silver in Ten Years!”- Jason Hommel

    By buying up silver (and some gold) – we can totally usurp the Banksters – we, effectively become OUR OWN CENTRAL BANKERS…


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