• There are actually a bunch of pictures of him online and they all have the same expression, which seems like a good quality in a rates trader.


    CBOT Fines Trader For Losing Money

    Umm so maybe someone wants to explain to me what happened to Glenn Hadden? He’s the head of rates at Morgan Stanley, formerly at Goldman, and he was just banned from all CME trading floors for ten days, which is a little funny because, like, what, was he going to walk around on an exchange […]

    / May 31, 2013 at 5:47 PM
  • A little meta.


    Bloomberg Wants Regulation To Be Fair And Consistent For Some Reason

    I confess that I have not followed the swap-futurization thing closely but my assumption was that the politico-regulatory view was: Swaps are evil instruments of financial instability and fraud and should be discouraged, and Listed futures are mostly harmless. I mean, look around. Swaps blew up AIG, Oakland, Monte dei Paschi, the U.S. housing market, […]

    / Apr 17, 2013 at 6:25 PM
  • News

    Swaps Dealers To Become Futures Brokers In Case Swaps Get Too Expensive

    To the many atrocities that can be attributed to Dodd-Frank, add the persecution of derivatives brokers.

    / Apr 5, 2013 at 1:43 PM
  • News

    There’s No Betting Here, This Is A Futures Exchange

    One of the joys of structuring financial products is that, when a regulatory door is closed, a window / chimney / possibility of sawing through a non-load-bearing wall is opened, and you get to look for it, and if you find it you get rich.* So I for one look forward to the response to […]

    / Apr 3, 2012 at 6:55 PM
  • News

    Sugar So Sweet

    Having set the clear example that markets are to blame for the evils of commodity price inflation, the United States is beginning to find companions in the membership list of the Market Lockdown Club. India banned futures trading in sugar, a day after Farm Minister Sharad Pawar said the government may extend a program allowing […]

    / May 26, 2009 at 12:56 PM
  • News

    U.S. Economy Takes Sharpest Dive In Years. Futures Markets Shrug.

    The only real upside is that the 0.3% annualized contraction in the third quarter was less than the 0.5% that was generally expected. I’m not really sure how to take that, other than as a sign that the market is hopelessly clueless. But that’s not really new, is it? Economy Shrinks as Consumers Retreat [CNBC]

    / Oct 30, 2008 at 8:53 AM

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