Errors double in derivatives trading
Errors double in derivatives tradingBy Richard Beales in New York
Errors in trading complex credit derivatives among Wall Street banks doubled last year, highlighting the operational risks faced by the world's biggest financial institutions in keeping track of the rapidly growing $17,000bn market.
One in every five credit derivatives trades made by big dealers initially contained mistakes, according to a survey from the industry's leading lobbying group, the International Swaps and Derivatives Association.
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posted by Victor Lloyd Smith @ 5:09 PM
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