Search Results for: Trading
Biggest Banks Said to Overhaul FX Trading After Scandals
September 16th, 2014
The world’s biggest banks are overhauling how they trade currencies to regain the trust of customers and preempt regulators’ efforts to force changes on an industry tarnished by allegations of manipulation. Banks have capped what employees can charge for ...
Brazilian Mogul faces charges of Insider Trading
September 15th, 2014
The Brazilian businessman Elike Batista was accused of manipulating the share price of his now-bankrupt petroleum company, OGX, and engaging in insider trading. The investigation from the public prosecutor began in April. If a trial takes place and Mr. ...
S&P 500 Short-Term Contracts See Trading Volume Jump
September 11th, 2014
In a market where stock volume is evaporating, volume in short-term options is surging. A daily average of 309,000 contracts on the Standard & Poor’s 500 Index (SPX) that expire weekly have changed hands in the first four days ...
Martoma’s insider-trading conviction upheld
September 5th, 2014
The insider trading conviction of former SAC Capital portfolio manager Mathew Martoma was upheld Thursday by a federal judge. Dealing a legal setback to the former financial lieutenant for billionaire hedge fund manager Steven Cohen, U.S. District Court Judge ...
Canada seeks to become Renminbi (RMB) trading centre for the Americas
September 2nd, 2014
The Toronto Financial Services Alliance (TFSA) and AdvantageBC has announced they would work together, with officials from the federal, Ontario and BC governments, and the financial industry, to promote Canada as a trading hub for the Chinese currency, the ...
Federal court denies Allergan bid to speed insider trading suit
August 22nd, 2014
A federal judge in California on Thursday denied a request by Allergan Inc to expedite its civil suit claiming that Valeant Pharmaceuticals International Inc and Pershing Square Capital Management engaged in insider trading ahead of their bid to buy ...
Passport Shifts Bets Against Stocks as Trading Volumes Decline
August 20th, 2014
For John Burbank’s Passport Capital LLC, shorting individual stocks has just become too hard. The $3.9 billion hedge-fund firm, which rose 220% in 2007 by wagering on a bust in subprime mortgages, reached the conclusion after losing money in ...
Trading probes from regulator on Brazil’s Batista due in 2015
August 20th, 2014
The results of more than a dozen investigations into market manipulation by Brazilian entrepreneur Eike Batista and current or former executives of his EBX Group, will likely be made public next year, a top regulator said. “Perhaps the verdicts ...
SEC charges Former Bank Executive and Friend With Insider Trading
August 19th, 2014
The Securities and Exchange Commission (SEC) has charged a former bank executive in Massachusetts and his friend with insider trading in advance of the bank’s acquisition of another financial institution. The SEC alleges that Patrick O’Neill, then a senior ...
Bitcoin’s price falls, but without serious trading consequences
August 19th, 2014
The last few days bitcoin has been in a bit of a downturn. On Monday, the price of Bitcoin dropped nearly 12 percent, to $435.60 from $492.95, according to the virtual currency website CoinDesk, its lowest value since May ...
