JPMorgan Chase (NYSE: JPM) announced Friday that it's exploring options for its physical commodities business. Following an internal review, the global financial services firm is considering a sale, spinoff, or strategic partnership as top alternatives for the division.

JPMorgan stressed that, despite its eye toward exiting or adapting its current business, it will continue to operate its physical commodities division as a "going concern" and "fully support" its current clients.

Although the firm is considering alternatives in an effort to maximize value, JPMorgan mentioned in its release that its commodities franchise has continually ranked as a leader in its field, citing Greenwich Associates' surveys and a recent Energy Risk magazine award.

The company also noted that, pursuant to its internal review, it plans to remain "fully committed" to its traditional banking activities in the commodity markets.

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