By now we all know that most positions were on Eurex.
From Eurex : Keep an Eye on your Intraday Risk
Eurex Clearing AG now offers Intraday Risk Information Services that report on risk during a trading day for existing positions at the member level, including a breakdown into margin classes. This new service is available for Clearing Members and Non Clearing Members and is e…
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Just thought I'd pass this along. 60 minutes takes a look at Stockton, California and how the subprime mess has affected homeowners there. Yeah we're all a bit tired of hearing about it but might be worth checking out. It airs at 7PM EST/PST. Here's the teaser video. Share This |
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Dax and eurostoxx50 columns represent volume traded on some specific day and socgen share of volume based on their data [see previous post]
On friday 18th:
Each dax contract was worth 7379*25 euros and the position was worth 16,594,544,736 euros…
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I have read a lot of different views concerning the credit crisis, the market dislocations in its wake, and the lack of confidence in the Fed’s ability to materially cushion the blow of the inevitable unwinding that will ensue. None has really brought it all together for me, however, in a way that looks at both the strengths and weaknesses of current market structure and regulatory regimes and charts a better way forward. I will share a few thoughts that hopefully sheds a little light on what I consider to be a key part of the dialog that remains under-addressed.
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I have read a lot of different views concerning the credit crisis, the market dislocations in its wake, and the lack of confidence in the Fed’s ability to materially cushion the blow of the inevitable unwinding that will ensue. None has really brought it all together for me, however, in a way that looks at both the strengths and weaknesses of current market structure and regulatory regimes and charts a better way forward. I will share a few thoughts that hopefully sheds a little light on what I consider to be a key part of the dialog that remains under-addressed.
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Rogue trader acting alone?
The tune is changing:
“I cannot guarantee to you 100 percent that there was no complicity.”
Jean-Pierre Mustier, chief executive of the bank’s corporate and investment banking arm
How they got out
In a five-page statement, the bank outlined how it believed Kerviel combined several different "fraudulent methods" to hide his activity - including using computer access codes of other employees and falsifying documents….
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Is it ever!
If you don’t think it is and you are not respecting the price action, you will be sorry. The global markets were fantastic since since 2003 for long only investors (like me), but now is shaping up as payback. I have been viciously aggressive in protecting big gains and cutting loose my dogs. The Fed just cut 75 basis points and all we got was a weaker US Dollar and Gold at another all-time high of $910. Not good for any of us. It’s really not great to see a new problem being fought with the same bullshit soltion of the last 20 years. I…
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Instant classic, a few well chosen quotes for the benefit of futures generations:
With one of the largest exotics books on the Street, one would imagine that Société Générale Corporate and Investment Banking (SG CIB) would be licking its wounds and coping with hundreds of millions of euros in losses. There was some impact, but the losses have been relatively minor and entirely manageable,…
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By Vipin Agnihotri Allcheckdeals.com is India’s only online brokerage for residential real estate. The best part about them is that they offer services to you beginning from property selection, site visit, booking, documentation, home-loan and after-sales service. …
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Last week magazine Motor Authority discovered first pictures of new Skoda Superb. The car is expected to be available on sale in summer 2008. Production start is planned for March 2008. Factory will still produce both models as there is still strong demand for first version of Superb. Czech car producer Skoda Auto is also one of potential IPO on Prague Stock Exchange for year 2008. Company is part of Volkswagen holding (VLKAY)….
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On the link between the unwinding of SocGen’s rogue trades and the market’s plunge. (NYTimes.com, Alea)
“Some of the criticism of the Fed has been going way overboard.” (…
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It has been a few weeks since I checked MY Facebook.
My friend Nick at AllFacebook is breaking some news that Facebook is opening it’s platform to the real web . If that’s true, that would be meaningful and very useful to us boring bloggers.
Otherwise, there is just nothing going on there for me. Very disappointing to be in the web space and get little utility from a company with a $15 billion valuation. I guess I am not representative of the maret but ‘they’ say my demographic is the fastest growing sector in the space.
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A homeowner who can’t sell his house tells the L.A.Times, ‘Foreclose me. … I’ll live in the house for free for 12 months, and I’ll save my money and I’ll move on.’…
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A homeowner who can’t sell his house tells the L.A.Times, ‘Foreclose me. … I’ll live in the house for free for 12 months, and I’ll save my money and I’ll move on.’…
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Are recession fears in Japan justified?…
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