Bloomberg reports that Jefferies said it had a trading loss on one day in the three months ended Aug. 31, bringing the total to three days for the first nine months of its fiscal year, according to regulatory filings from the New York-based bank. That compares with 29 days of trading losses at JPMorgan Chase in the first six months of the year, 19 days at Morgan Stanley and seven days for Goldman Sachs.
Jefferies’s average daily value-at-risk, a measure of how much the company estimates it could lose in the securities market in a single day, increased to $10.53m from $8.83m in the second quarter, mainly because of an investment in Knight Capital Group Inc. (KCG), the firm said. Excluding that investment, average VaR fell to $8.35m.
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