Wall Street banks just had a trading bonanza (JPM, MS)
JPMorgan posted record foreign exchange trading volumes overnight following the UK's historic decision to leave the European Union.
The firm on Friday expects to do three times the normal daily volume, according to a memo to staff from CEO Jamie Dimon.
He said that at one point, the firm processed 1,000 trading tickets per second.
The sterling plunged by over 11%, to a low of 1.32 against the dollar, around 12:30 a.m. ET (5:30 a.m. BST) after Britain voted for a Brexit.
That's a 30-year low.
It
Read more »