Factbox: Wall Street and commodity risk - JPMorgan risk measure rises

(Reuters) - JPMorgan Chase & Co's commodity market trading risk measure, known as Value-at-Risk (VaR), rose for a second straight quarter in the three months to end-June. The measure known as Value-at-Risk (VaR), released to coincide with the start of the earnings season for Wall Street banks, rose by $1 million in the second quarter to $9 million, according to a bank regulatory filing on Tuesday. The VaR is often a key risk-reward indicator that can measure the commodities exposure of Wall Street banks, as they typically group commodities revenue under the fixed income category and do not break out the sector. Kicking off the Wall Street banks' earnings, JPMorgan reported a stronger-than-expected rise in profit on Tuesday, helped by a drop in legal and restructuring expenses and a smaller tax bill. The bank sold its physical commodities business to Swiss-based commodities merchant Mercuria last year. (Reporting by Josephine Mason; Editing by Paul Simao)