The Chinese and U.S. stock markets are going in opposite directions, as an intensifying crackdown against leverage has slammed the recently 'stable' Shanghai Composite over the past week, erasing all post-Trump gains. The relatsionship between the two markets is the weakest since August 2008 - just before the collapse of Lehman unleashed chaos on the global financial system.
An HFT software developer and trader was arrested last Wednesday in New York for attempting to steal quantitative trading code from Susquehanna International Group, a secretive financial firm based in the Philadelphia area that specializes in making markets for options.
One month after a major shake up at Bridgewater, which saw Ray Dalio step down as co-CEO, as well as the departure of the recently hired former Apple executive Jon Rubenstein, the world's largest hedge fund has lost its head of trading, Jose Marques, who according to Business Insider is in the process of leaving the firm.
The issue here is – the “markets” have been levitated via the “wings of doves.” Suddenly – those “doves” have all but vanished. And if that’s true? What’s vanished with it may just be the BTFD genius along with it. And that will turn into a very big problem indeed if correct.
"Tthe existing local stability is likely to be more problematic due to its self-reinforcement – the longer it persists, the higher the risks will become. The one-sided positioning that accumulated since the election now threatens to evolve into a latent condition that mkes markets vulnerable to event shocks. We believe that despite considerable local stability, the market is vulnerable to a risk off trade."
As the first quarter wraps up, bankers say the weakness in equity trading revenues experienced last year is continuing. That is prompting questions about whether banks should be preparing for a longer-lasting decline in the business, rather than a cyclical dip.
A 24-year-old computer contractor from Hamden was arrested on the charge of stealing confidential documents from the world's biggest and most secretive hedge fund Bridgewater Associates, according to police.
"I've increasingly come to see the financial industry - with the big banks at its core - as the root cause of injustice in today's society." Whether it's social equity, the security of your job or retirement, your day-to-day existence, or the fairness of the laws we live under - our fate is currently in the hands of the banks.
According to JPM's Investor Day presentation, not only did the bank not have a single losing day in all of 2016, but JPM's trading desk also had zero daily losses in 2014 and 2013. It did, however, lose money on two days in 2015.
Vincent Viola, the billionaire founder of trading firm Virtu Financial, has withdrawn his nomination to be Secretary of the Army after distancing himself from his business ties proved too difficult. He becomes the first Trump nominee to withdraw from nomination.
High-speed traders are pulling out of China’s bitcoin market at an unprecedented pace after the three biggest venues started charging transaction fees on Tuesday, leading to a collapse in trading volumes.