Jefferies Group Inc. (JEF:US), the investment bank led by Chief Executive OfficerRichard Handler, had positive trading revenue every day of the fiscal second quarter.
Net revenue from trading exceeded $10 million on five of the period’s 64 trading days, according to a quarterly report filed today by the New York-based firm with U.S. regulators.
A measure of potential trading losses jumped in March to touch the highest level in almost a year because of risks tied to equities and interest rates, Jefferies said in the filing. The company’s value-at-risk climbed to as high as $18 million before falling to $7.9 million on May 31, when the quarter ended. VaR is an estimate of the maximum amount that traders might lose on 95 out of 100 trading days.
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