Home > Views > Blogs > Market Movers > Equity Derivatives House of the Year
EMAIL
PRINT
RSS
SHARE
TEXT SIZE:
SHARE
Send a copy to me

Separate multiple email addresses (max 20) with commas.

0/1500

Main
What Stock Market Volatility?   Musharraf on the Islamic Bomb
Jan 24 2008 5:58AM EST

Equity Derivatives House of the Year

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

Loading...

Add Your Comment

Required fields are marked with an asterisk (*)
Add a comment

Recent Blog Posts

Archive

Previous
Nov
2008
Next


Also in Portfolio.com
Most Read
Most Emailed
Recently Commented