JPMorgan (JPM), one of MF Global's primary clearing banks, has reached a $546M settlement with...

|About: JPMorgan Chase & Co. (JPM)|By:, SA News Editor

JPMorgan (JPM), one of MF Global's primary clearing banks, has reached a $546M settlement with James Giddens, the trustee who is overseeing the liquidation of the brokerage. Under the deal, JPM will pay MF $129M and release claims on $417M that it had already returned to Giddens. Meanwhile, the trustee plans to request court authorization for payments of $300M to former MF customers.