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JP Morgan Planning To Tell Market Maker To Hit The Bricks, Come Back When It's Thought About What It's Done

KCG Holdings is probably going to fired...with the door open to be rehired.
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GTFO! But come back soon with a can-do attitude and a great answer prepared for "What's your biggest weakness?" and "What were the circumstances under which you left your last job?" Something about not seeing eye to eye with management should work.

J.P. Morgan Chase & Co. (NYSE: JPM) is planning to fire its market maker on the floor of the New York Stock Exchange for poor performance during the Aug. 24 market mayhem, among other issues, according to people familiar with the matter. The bank recently informed the exchange that it was seeking to replace KCG Holdings Inc., the New Jersey-based trading firm that oversees J.P. Morgan’s shares, as its designated market maker, the people said. The NYSE sent an announcement to several of the exchange’s designated market makers on Monday informing them that the bank will be interviewing potential replacement traders on Dec. 8, some of the people said. KCG will have an opportunity to re-interview for the job, the people said.

J.P. Morgan to Fire Market Maker for Poor Performance During Aug. 24 Mayhem [WSJ]


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