JPMorgan says the parties in the spoofing case have taken substantial steps towards resolution.
JPMorgan is involved in a series of litigation proceedings, which may lead to losses from $0 to circa $1.7 billion.
The New York Southern District Court has dismissed Breakwater Trading’s claims against JPMorgan after the plaintiff voluntarily dropped the charges.
Barclays, Citi, JPMorgan Chase, NatWest Markets and UBS argue that these communications consisted of phone conversations and in-person meetings.
After 23 years with JPMorgan, Stephen Macklow-Smith has decided to retire from asset management.