Nick Leeson: Confessions of a Rogue TraderWith questions still swirling over how one trader could cost Societe Generale more than $7 billion, Advanced Trading turns to Nick Leeson, the infamous rogue trader who bankrupted Barings Bank in 1995, for his unique perspective. In an exclusive interview, Leeson candidly discusses how he hid his losses and offers key strategies to financial services firms on how they can prevent rogue trading.
Sidebar: The Personal Side of the Barings Scandal
Special Rogue Trading Report:This special report traces the events that led to the Societe Generale scandal and details how the debacle unfolded. It also includes a time line of rogue trading events in history, commentary on the scandals, and an audio podcast of Advanced Trading's exclusive interview with Nick Leeson.
Anatomy of a Trading Floor
Featuring Weeden & Co.
A New Season for Electronic Futures Exchanges?The industry is questioning who will lead ELX, the new electronic futures exchange that is being created by a consortium of large brokerage firms, technology providers and a hedge fund, and it is wondering when more details will be made public. The exchange will go head to head with the CME.
Shedding Light on Dark AlgorithmsAs brokers begin to code dark pool access into all of their algorithms, the buy side is demanding more disclosure into executions. Buy-side firms want to know which dark pools algos reach and where their orders are being executed.
Sidebar: Brokers Code Dark Pool Routing Into All Algorithmic Trading Strategies
Data and Infrastructure
Exchanges Enter the Tech BusinessAs technology increasingly becomes a key differentiator among exchanges and a major factor in exchange consolidation, NYSE Euronext and Nasdaq recently acquired technology providers. In addition to enabling exchanges to tap the acquired technology, entering the tech business also creates alternative revenue sources.
Nasdaq OMX Invests in OTC Derivatives ECNExpanding into the fast-growing derivatives market, Nasdaq OMX has acquired a 20 percent stake in a new electronic communications network, Agora-X.
Credit Suisse Promotes SantayanaManny Santayana has been elevated to head of Advanced Execution Services global sales, replacing Richard Balarkas.