The four-person team at compression provider, LMRKET, recently eliminated $430bn of overlapping forex exposures for a group of six banks in just 25 minutes. The elimination, by the firm founded in 2012 by a former Lehman Brothers trader, marks the swiftest compression of risk ever seen on Wall Street. The banks benefiting from the compressed exposure across five major currencies were JPMorgan Chase, Deutsche Bank, Goldman Sachs Group, Bank of America and UBS.
The four-person team at compression provider, LMRKET, recently eliminated $430bn of overlapping forex exposures for a group of six banks in just 25 minutes. The elimination, by the firm founded in 2012 by a former Lehman Brothers trader, marks the swiftest compression of risk ever seen on Wall Street. The banks benefiting from the compressed exposure across five major currencies were JPMorgan Chase, Goldman Sachs Group, Deutsche Bank, Bank of America and UBS.