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Home > Art, Film & Photography > Rogue Traders: 2011 UBS Rogue Trader Scandal, 2012 Jpmorgan Chase Trading Loss, Anthony Elgindy, Brian Hunter (Trader), Bruno Iksil,
Rogue Traders: 2011 UBS Rogue Trader Scandal, 2012 Jpmorgan Chase Trading Loss, Anthony Elgindy, Brian Hunter (Trader), Bruno Iksil,

Rogue Traders: 2011 UBS Rogue Trader Scandal, 2012 Jpmorgan Chase Trading Loss, Anthony Elgindy, Brian Hunter (Trader), Bruno Iksil,


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About the Book

Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. Pages: 27. Chapters: 2011 UBS rogue trader scandal, 2012 JPMorgan Chase trading loss, Anthony Elgindy, Brian Hunter (trader), Bruno Iksil, Jerome Kerviel, John Rusnak, List of trading losses, Nick Leeson, Robert Citron, Sumitomo copper affair, Toshihide Iguchi, Yasuo Hamanaka. Excerpt: In April and May 2012 large trading losses occurred at JPMorgan's Chief Investment Office, based on transactions booked through its London branch. The unit was run by Chief Investment Officer Ina Drew who has since stepped down. A series of derivative transactions involving credit default swaps (CDS) were entered into, reportedly as part of the bank's "hedging" strategy. Trader Bruno Iksil, nicknamed the London Whale, accumulated outsized CDS positions in the market. The original estimated trading loss of $2 billion was announced, with the final actual loss expected to be substantially larger. A number of investigations will examine the firm's risk-management system and its internal controls. In February 2012, hedge fund insiders such as Boaz Weinstein of Saba Capital Management became aware that the market in credit default swaps was possibly being affected by aggressive trading activities. The source of the unusual activity turned out to be Bruno Iksil, a trader for JPMorgan Chase & Co. and referred to as "the London Whale" in reference to the huge positions he was taking. Heavy opposing bets to his positions are known to have been made by traders, including another branch of JPMorgan, who purchased the derivatives JPMorgan was selling in such high volume. Early reports were denied and minimized by the firm in an attempt to minimize exposure. Major losses, $2 billion, were reported by the firm in May, 2012 in relationship to these trades; on July 13, 2012 the total loss was updated to $5.8 billion with the addition of a $4.4 billion loss in the second...


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Product Details
  • ISBN-13: 9781230487106
  • Publisher: University-Press.Org
  • Publisher Imprint: University-Press.Org
  • Height: 246 mm
  • No of Pages: 28
  • Spine Width: 2 mm
  • Weight: 68 gr
  • ISBN-10: 1230487107
  • Publisher Date: 12 Sep 2013
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Sub Title: 2011 UBS Rogue Trader Scandal, 2012 Jpmorgan Chase Trading Loss, Anthony Elgindy, Brian Hunter (Trader), Bruno Iksil,
  • Width: 189 mm


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