but you gotta figure, there is no law against insider trading in forex, so if you're sitting on the board of SNB you, your children, your in laws and your nieces and nephews (not to mention your trading company) made out pretty good for 10 minutes worth of work (If you don't count the time it took to set up the account.)
Anyone get rich from CHF?
- Thread starter hedron
- Start date
Just one problem.
Nobody knows how the market will react to news. The SNB was caught off guard with the extreme EUR/CHF move just as much as anyone else.
Hello hedron:
Yes some body got rich from the CHF action, and you can be sure there's an snb banker some where who doesn't have to worry about his job because he...
See
JPMorgan Chase forex traders made up to $300 million profit from soaring Swiss franc
January 28, 2015 By Kelvin Ching
http://www.reuters.com/article/2015...NG20150127?feedType=RSS&feedName=businessNews
(Reuters) – JPMorgan Chase & Co’s (JPM.N) currency traders made a profit of as much as $300 million when the Swiss central bank shocked markets by scrapping its cap on the franc this month, Bloomberg reported, citing two people with knowledge of the matter.
Yes some body got rich from the CHF action, and you can be sure there's an snb banker some where who doesn't have to worry about his job because he...
See
JPMorgan Chase forex traders made up to $300 million profit from soaring Swiss franc
January 28, 2015 By Kelvin Ching
http://www.reuters.com/article/2015...NG20150127?feedType=RSS&feedName=businessNews
(Reuters) – JPMorgan Chase & Co’s (JPM.N) currency traders made a profit of as much as $300 million when the Swiss central bank shocked markets by scrapping its cap on the franc this month, Bloomberg reported, citing two people with knowledge of the matter.
Hello hedron:
Yes some body got rich from the CHF action, and you can be sure there's an snb banker some where who doesn't have to worry about his job because he...
See
JPMorgan Chase forex traders made up to $300 million profit from soaring Swiss franc
January 28, 2015 By Kelvin Ching
(Reuters) – JPMorgan Chase & Co’s (JPM.N) currency traders made a profit of as much as $300 million when the Swiss central bank shocked markets by scrapping its cap on the franc this month, Bloomberg reported, citing two people with knowledge of the matter.
Anonymous sources should always be taken with a grain of salt. But the alleged profit of $300 million is interesting, it's the exact opposite of the loses traders at FXCM generated.
FXCM CEO Drew Niv Discusses Firm's Future after the CHF Crisis
- Collateral in FXCM clients accounts: $80 million
- Negative balances after the EUR/CHF move: $225 million
- Total loss: $305 million