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In April and May 2012, large trading losses occurred at JPMorgan's Chief Investment Office, based on transactions booked through its London branch. The unit was run by Chief Investment Officer Ina Drew, who later stepped down. A series of derivative transactions involving credit default swaps (CDS) were entered, reportedly as part of the bank's "hedging" strategy. Trader Bruno Iksil, nicknamed the London Whale, accumulated outsized CDS positions in the market. An estimated trading loss of $2 billion was announced. However, the loss amounted to more than $6 billion for JP Morgan Chase.

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  • 2012 JPMorgan Chase trading loss (en)
  • 摩根大通事件 (倫敦鯨事件) (zh)
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  • 在2012年四月和五月， 摩根大通的伦敦分公司发生大交易的损失。作為"对冲"战略的一部分，银行進行了一系列的衍生公具的交易包括 互惠信贷违约证券 (CDS)。绰号伦敦鲸鱼的交易員布鲁诺·伊克斯尔（Bruno Iksil）在市场积累了很多CDS。损失估计是20亿美元，实际损失可能较大。市场对银行风险内控缺失和规模巨大的金融衍生品交易敞口感到担忧，同时，亏损事件还触发了监管机构对银行高风险自营交易实施更加严格的监管。 (zh)
  • In April and May 2012, large trading losses occurred at JPMorgan's Chief Investment Office, based on transactions booked through its London branch. The unit was run by Chief Investment Officer Ina Drew, who later stepped down. A series of derivative transactions involving credit default swaps (CDS) were entered, reportedly as part of the bank's "hedging" strategy. Trader Bruno Iksil, nicknamed the London Whale, accumulated outsized CDS positions in the market. An estimated trading loss of $2 billion was announced. However, the loss amounted to more than $6 billion for JP Morgan Chase. (en)
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  • In April and May 2012, large trading losses occurred at JPMorgan's Chief Investment Office, based on transactions booked through its London branch. The unit was run by Chief Investment Officer Ina Drew, who later stepped down. A series of derivative transactions involving credit default swaps (CDS) were entered, reportedly as part of the bank's "hedging" strategy. Trader Bruno Iksil, nicknamed the London Whale, accumulated outsized CDS positions in the market. An estimated trading loss of $2 billion was announced. However, the loss amounted to more than $6 billion for JP Morgan Chase. These events gave rise to a number of investigations to examine the firm's risk management systems and internal controls. JPMorgan Chase agreed to pay $920 million in fines. JPMorgan Chase cut chief executive Jamie Dimon's 2012 pay in half, to $11.5 million from $23 million, due to the $6 billion trading loss. (en)
  • 在2012年四月和五月， 摩根大通的伦敦分公司发生大交易的损失。作為"对冲"战略的一部分，银行進行了一系列的衍生公具的交易包括 互惠信贷违约证券 (CDS)。绰号伦敦鲸鱼的交易員布鲁诺·伊克斯尔（Bruno Iksil）在市场积累了很多CDS。损失估计是20亿美元，实际损失可能较大。市场对银行风险内控缺失和规模巨大的金融衍生品交易敞口感到担忧，同时，亏损事件还触发了监管机构对银行高风险自营交易实施更加严格的监管。 (zh)
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