"London whale" stops derivatives trades, but waves continue

04/11/2012 | Wall Street Journal, The

JPMorgan Chase trader Bruno Iksil has stopped making massive credit-derivatives bets that earned him the nickname "London whale," but hedge funds and other investors remain involved in strategies against him. Investors who bet against Iksil suffered large paper losses as he drove down a credit index. The situation made Iksil a target, sources said. "I view the entire market as a chess match playing against this guy," one trader said.

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Wall Street Journal, The

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