Deutsche Bank Swallows $4 Bln of Charges for Clean Up
plunged to its worst quarterly loss in four years on Thursday
after it took nearly $4 billion in charges to try and draw a
line under a slew of scandals and boost its balance sheet
without asking shareholders for cash.
Insider Trading Escalates At Hedge Funds, Reflecting Weak Controls
The ongoing proliferation of insider trading cases at hedge funds points to the need for more transparency into investment decisions and trading processes. One way to stop the pattern is for hedge funds to form internal control groups that scrutinize the links between investment themes and material non-public information.
U.S. Probed Media's Handling of Economic Data — Source
U.S. law enforcement
authorities conducted an investigation into whether media
companies facilitated insider trading by prematurely releasing
market-sensitive government data, but decided not to bring
charges, a source familiar with the probe said.
Video: The Future Of Data Management
Larry Tabb of TABB Group recently discussed with WS&T senior editor Melanie Rodier how firms are adapting their data management processes to the post-financial-crisis environment.
Buy Side Needs to Assess Readiness for Derivatives Regs
With mandatory clearing of derivatives set to begin on March 13, Woodbine Associates provides a checklist for buy-side firms to assess their readiness for new derivatives regulations, including clearing, execution venues and pre-trade analysis.
The Kyte Group Goes Live with AlgoSpan
Futures commission merchant The Kite Group is tapping AlgoSpan for low-latency infrastructure and access to European exchanges/MTFs, to meet the demands of HFT clients and hedge funds.
Spain May End Short-Selling Ban as Crisis Eases
Spain may end its ban on
short-selling stocks and bonds this week as the euro zone crisis
relents, although controls could stay for bank shares which
speculators targeted heavily during last year's turmoil.
Hedge Funds Jostling to Bet Against France's Peugeot
Hedge fund short-sellers have
hoovered up nearly all available shares in Peugeot in
their scramble to bet the French carmaker will be an early
victim in an industry struggling to overcome a collapse in
Market Ebullience Due a Reality Check
Only four weeks into the new
year, ebullient world stock markets have clocked up gains of
more than four percent, so already there are murmurs about
whether it's too much, too soon.
ConvergEx to Sell OMS/EMS Platforms to TPG Capital
The brokerage firm signed a definitive agreement to sell its popular software business consisting mainly of Eze Castle Software and RealTick to a private equity firm, TPG Capital, which will "create two optimal businesses," the company said.
Re-Thinking Operational Risk on Wall Street
With no let-up in the flow of operational risk accidents at major banks, firms are hiring more seasoned experts and throwing more resources at the function. But more work needs to be done.
Morgan Stanley Wealth Unit Fuels Jump in Profits
executives made good on their promise to reap earnings from the
bank's burgeoning wealth management business, reporting on
Friday that profit margins in the business soared in the fourth
State Street Shares Surge on Job Cuts, Profit Rise
State Street Corp said on Friday
it would cut about 630 jobs worldwide, lifting its stock 5
percent, as it reported a 26 percent boost in fourth-quarter net
income amid pressure from some of its largest shareholders to
Silver Lake Hunts for Investors in Dell Deal — Sources
Silver Lake Partners,
trying to finalize a bidding group to take Dell Inc
private, is in talks with the manager of Canada's pension plan
and other potential investment partners, people familiar with
the matter said.
Citigroup Profit Hit by More Than $2 Bln in Charges
Citigroup Inc posted
$2.32 billion of charges for layoffs and lawsuits in the first
financial report under its new chief executive, Michael Corbat,
who cautioned that the bank needs more time to deal with the
problems it faces.
Canada Sets Plan to Resuscitate Venture Capital Sector
Canadian Prime Minister Stephen
Harper announced a plan on Monday to provide C$400 million ($408
million) in venture capital to stem the loss of young
entrepreneurs to the United States and to rekindle investor
interest in providing start-up funds for new ventures.
How to Manage "Genius Trader Risk"
After a series of trading blow-ups by rogue traders, meet "the genius trader," who can do even worse damage. With their superior intellect, big egos,and technical expertise, they can easily win over CEOs. But, can risk managers reign them in?
BATS Glitch is Latest to Highlight the Complexity of the Markets
The complexity of modern
markets means there are bound to be more events such as the
systems error that led to hundreds of thousands of trades being
executed improperly on BATS Global Markets over the past four
years, the head of the No. 3 U.S. equities exchange said on