Wall St Stumbles as Euro Zone Worry Grows
U.S. stocks dropped on
Wednesday, as rising bond yields for Italy and Spain and the
latest poll results in Greece worsened fears about a spiraling
of the euro zone's debt crisis.
Big Data's Role in Meeting Compliance and Regulatory Challenges
Responding to the changes in the financial industry with yesterday's data capabilities will place financial institutions at a disadvantage. Utilizing big data technologies can help firms meet financial reporting requirements, says DataArt's Oleg Komissarov.
Morgan Stanley Cut Facebook Estimates Just Before IPO
In the run-up to Facebook's $16
billion IPO, Morgan Stanley, the lead underwriter on the
deal, unexpectedly delivered some negative news to major
clients: The bank's consumer Internet analyst, Scott Devitt, was
reducing his revenue forecasts for the company.
Hedge Fund Lone Pine Capital Opts for SS&C's Form PF Tool
Starting next month, hedge funds with at least $22 billion in assets under management will need to begin filling out Form PF, which is designed to monitor the risks posed to the nation's financial system by hedge funds, private equity funds, and other large private funds.
Regulators Should Define Hedges Narrowly
JP Morgan's reported loss on a
"hedge" highlights the way the concept has been stretched in the
last two decades to cover a broader range of transactions than
before, many of which have little to do with the traditional
concept of offsetting underlying price risks with like-for-like
JPMorgan Trade on Regulators' Radar in April
Regulators first raised
concerns in April about trading positions that led to a $2
billion-plus loss at JPMorgan Chase & Co, and they posed
questions to senior management at the bank, a source familiar
with the situation said.
LCH.Clearnet Piles into European CDS Clearing
LCH.Clearnet has joined the flood
of clearing houses piling into European credit default swaps
(CDS) ahead of regulation that will force firms to clear such
products on an exchange, instead of trading them privately.
Guggenheim Investments Picks NAV Platform
In a move to eliminate spreadsheets and reduce operational risk, Guggenheim chose Milestone Group's pControl platform to automate the production and control of net asset values.
How Exactly Did JPMorgan Pass a Fed Stress Test?
News of the investment bank's $2 billion loss through a poorly crafted hedging strategy sent a shockwave throughout the global marketplace, once again putting regulatory bodies under the spotlight.
Wells Fargo May Face Fair Lending Claims
The U.S. Department of Justice believes it has grounds to bring claims against Wells Fargo & Co for monetary damages and civil penalties under fair lending laws, the bank said in a securities filing.
Big Data Technology: Buyer Beware
Big data holds big promise. But the technologies needed to understand it come with a steep learning curve. Here's what you need to know before you buy.
Facebook IPO Watch: $35 a Share?!
The much-anticipated IPO has a low, low price but you'll be lucky to get a piece of the action. Is that fair to the people who made Facebook into the Social Media Giant it is?
Wall Street Firms Are Not Prepared for Big Data
New data sources, including social media and mobile devices, can provide valuable information and insights into customer tendencies and trends. But firms do not have the infrastructure or skills to handle the deluge of unstructured data.
UBS Faces Pay Backlash as Weber Becomes Chairman
UBS became the latest
bank to face the anger of its shareholders over executive pay on
Thursday, as investors queued up to voice their complaints in a
packed meeting that echoed recent protests at Credit Suisse and
In Quiet Markets, FX Traders Hunt New Opportunities
Calm in currency markets is
causing a headache for foreign exchange traders, who are
struggling to make money as major currencies trade in a tight
range, and storing up trouble for investment banks relying on
the sector to generate profits.