Breaking News


Jefferies Posts One Day of Trading Losses in Quarter

Jefferies Group LLC, the investment bank that sold itself to Leucadia National Corp. (LUK), said it had one day of trading losses in the quarter ended Feb. 28.

Jefferies’s average daily value-at-risk, a measure of potential trading losses, was $9.27 million for the period, compared with $13.4 million in the prior three months, the New York-based company said today in a regulatory filing.

The decrease was partly “due to lower equity price risk,” according to the filing, which also cited a “decrease in interest-rates risk, resulting from reduced volatility in interest-rate asset classes.”

Leucadia completed its purchase in March in a deal that the companies said would help Jefferies weather market turmoil. Richard Handler, the leader of Jefferies, took over as Chief Executive Officer of Leucadia as part of the transaction.

Excluding an investment in Knight Capital Group Inc., average daily VaR was $5.99 million in the period ended Feb. 28.

To contact the reporter on this story: Laura Marcinek in New York at

To contact the editor responsible for this story: David Scheer at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.