JPMorgan Just Cornered The Commodity Derivative Market, And This Time There Is Proof

• JPMorgan Just Cornered The Commodity Derivative Market, And This Time There Is Proof
  by Tyler Durden, www.zerohedge.com  
  For years there had been speculation, rumor and hearsay that JPM had cornered the US commodities market. Now, finally, we have documented proof.
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  Traditionally, we look at the OCC’s Quarterly Bank Report on derivatives activities to see which was the largest bank in the US in terms of total notional derivative holdings. The reason being that like on frequent occasions in the past, we find some stunning  results, such as most recently in January when we wrote that, for the first time, Citigroup had eclipsed JPM as the largest US bank in total derivatives, with just over $70 trillion compared to perennial megabank JPM’s $65.3 trillion as of the third quarter of 2014, explaining also why Citigroup had drafted the Swaps push out language in the Omnibus Bill.
  …
  In fact as the chart above shows, while historically JPM has accounted for just over 50% of total commodity holdings among all US commercial banks, in the Q1 this number soared to a stratospheric 96% which by anybody’s standards is the very definition of cornering the market!
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