Unauthorized Trading Follies
Unauthorized Trading Follies
Has Risk Managment and Trading Credit Risk lost their bite? Remember Joe Jett and Kidder Peabody? Out of business.
In one month, two global investment banks have reported steep losses due to unauthorized trading by their proprietary traders. Who was watching the store?
As these articles show, next day Risk Management equals no managment in our world of electronic trading and volatile markets. Real-time trading & credit risk management systems may now get their chance to shine.
- MF Global Says Unauthorized Bets Lost $141.5 Million
- French finance minister says Societe Generale controls failed before trading loss
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posted by Victor Lloyd Smith @ 4:22 PM
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