Equity Derivatives House of the Year

Not a Portfolio.com Insider?

In This Issue of Condé Nast Portfolio

Home > Views > Blogs > Market Movers > Equity Derivatives House of the Year

Your Name

Your Email Address *
Send a copy to me

Recipient's Email Address *

Separate multiple email addresses (max 20) with commas.

Subject *

Message

0/1500

Email Confirmation

Market Movers

by Ryan Avent

Main

What Stock Market Volatility? Musharraf on the Islamic Bomb

Jan 24 2008 5:58AM EST

An as-yet-unnamed trader at SocGen has somehow contrived to lose more than $7 billion by making bad directional bets on equity indices. Bloomberg's Gregory Viscusi is on irony watch:

"At first this seemed like a joke," said Nicolas Rutsaert, an analyst covering European banks at Dexia SA in Brussels. Societe Generale ``was a leader in derivatives and was considered one of the best risk managers in the world.''...
Societe Generale has ranked first or second during the past five years in client surveys of equity derivative firms, according to Risk Magazine. In 2007, it received the award for "Equity Derivatives House of the Year'' from The Banker, a London-based monthly magazine.

You can see why that might be, given the amount of money that the rest of the equities-trading world was, we now realize, making from this one out-of-control trader.

See more in

Add Your Comment

Already a Portfolio.com Insider? Sign In

Comments*

Thank you for registering as a Portfolio.com Insider. Your comment has been added.

Create Your Public Profile

Recent Blog Posts

The Times' Rorshach Geithner Story
Apr 27 2009 9:26AM EDT
Sinking Animal Spirits
Apr 27 2009 8:45AM EDT
Counter-cyclical Urban Policy
Apr 26 2009 10:00AM EDT
Be Your Own Counterfeiter
Apr 26 2009 9:36AM EDT
Being Tim Geithner
Apr 25 2009 12:37PM EDT
Notes From a Press Conference Naif
Apr 25 2009 9:41AM EDT
What Good is the News?
Apr 25 2009 8:32AM EDT
Stressful Enough
Apr 24 2009 2:29PM EDT
Not Regretting the Pound
Apr 24 2009 1:09PM EDT
Introducing the New Ford Squeeze
Apr 24 2009 9:47AM EDT
Non-Economic Questions of the Day
Apr 24 2009 9:12AM EDT
The Stress Test Blind Alley
Apr 24 2009 8:36AM EDT
Happy Hour
Apr 23 2009 9:40PM EDT
Recovery Without Rebalancing
Apr 23 2009 6:13PM EDT
The Shape of Your Recession
Apr 23 2009 5:11PM EDT

Links

Also in Portfolio.com

Visit our partner sites

Subscribe to a magazine:

Visit our sister sites:

Quotes delayed 15 minutes for NASDAQ. 20 minutes for NYSE and AMEX. Market Data provided by Interactive Data. Terms & Conditions. Powered and implemented by Interactive Data Managed Solutions. Company fundamental data provided by Hemscott. Economic data provided by Econoday. News provided by Comtex. Sec Filings data provided by Edgars. The Wall Street Horizon National Consumer Interest Rate Survey. ©2009 Wall Street Horizon. PMMS Mortgage Data ©2009 Freddie Mac. Mortgage averages are for conforming mortgages with 20% down.