…And Finally

Valuations are dominating the headlines again in a week where Credit Suisse revealed details of how a group of its traders managed to avoid writing down CHF 2.86 billion in losses and the Bank of New York Mellon issued a report stating that more than half of UK hedge fund managers had "little or no awareness" of […]
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…And Finally

Last Monday the world’s first actively-managed exchange traded fund was announced, promising to, "generate higher returns than an average money market fund by investing in diversified, high-quality securities, including governments, municipal securities, bank obligations, corporate and securitised debt". The issuer was Bear Stearns Asset Management….am I the only one to find this ironic? On a […]
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…And Finally

Last Monday the world’s first actively-managed exchange traded fund was announced, promising to, "generate higher returns than an average money market fund by investing in diversified, high-quality securities, including governments, municipal securities, bank obligations, corporate and securitised debt". The issuer was Bear Stearns Asset Management…am I the only one to find this ironic? On a […]
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…And Finally

Congratulations were very much in order at London's Canary Wharf on Thursday evening when a large (and loud) group of people got together the celebrate a rarity in today's markets. Vince O'Sullivan was celebrating 30 years at Barclays Capital (or derivations of) and his colleagues decided to throw him a suprise party. A group of […]
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…And Finally…

Although the focus of attention in recent months has rightly been on how liquidity and the market infrastructure have fared amid the lethal combination of a credit crunch and volatility spike, one cannot escape the feeling that we have missed another area of stress – operational risk. The headline event has very much been Societe […]
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…And Finally…

A few weeks ago in this column we discussed the EUR 4.9 billion losses at Societe Generale that were the result of alleged trading losses run up by Jerome Kerviel. We noted that "the oversight process had to have been broken down at several levels". Wrong. The oversight process broke down on an unprecedented scale. […]
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…And Finally…

In London, individuals from the futures and options industry representing banks, brokers, exchanges, vendors and consultants have bandied together to set up The Futures for Kids Charity Foundation, which they are launching at a reception in London tomorrow (Tuesday 19 February). The foundation’s aim is to provide a fundraising vehicle through which the industry, collectively, […]
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…And Finally…

The sharper-eyed amongst you will have noticed that FX MarketSpace did something different last week – or rather it didn’t do something. The firm, which is a joint venture between CME Group and Reuters quietly dropped its practice of publishing its monthly volume data. This will inevitably lead to accusations that the fledgling organisation is […]
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…And Finally…

Formerly one of the world’s largest CTAs, last week saw John W. Henry unveil pretty nasty annual returns, especially in its currency portfolios. Having already closed its other currency programs, the only surviving strategy – the International Foreign Exchange Program – finished 2007 an estimated 30.89% down according to the firm. Not only does this […]
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…And Finally…

Unfortunate timing perhaps on the part of the Bank for International Settlements last week when it released the abstract of a paper which discusses central bank co-operation. This in a week when the financial markets are awash with talk of the Federal Reserve Bank responding to equity market turmoil with the largest single interest rate […]
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