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broker dealer
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Latest Headlines
WJB Capital shuts down
Sales and trading units have been hard hit recently, despite a brief volume surge linked to the European debt crisis.
For some, survival has become an issue. Bloomberg Businessweek reports that WJB Capital Group, a small broker dealer, has fallen victim to the harsh conditions. The company
The regulatory message of the MF Global fiasco
So what is the best interpretation of the MF Global bankruptcy from a regulatory perspective? There's a lot on the table for discussion. One could argue that the firm's demise underscores the need for more regulation of broker dealers. After all, it has become clear that hundreds of millions of do
Regulators probe MF Global for fraud
As it so often happens, the saga of MF Global has taken a nasty turn, right into the gutter. The New York Times reports that regulators are now investigating why hundreds of millions in customer funds cannot be accounted for. The company apparently self-reported to the SEC and CFTC that concer
Update: the irony of MF Global's bankruptcy court move
MF Global has filed for Chapter 11 bankruptcy court protection from creditors. While some thought there might be some prepackaged elements to the filing, those hopes were dashed, as talks with Interactive Brokers Group apparently fell apart in the morning. The company was in talks to buy some asse
Strapped regulators must rely more on companies
When the reform movement got underway, there was lots of fear of draconian measures that banks would find overly burdensome. But the regulators are just as burdened, and if the SEC were to directly manage every reform effort, the results would likely please few banks, investors as well as regulato
Institutions win in fixed income market
In recent years, FICC loomed large as perhaps the premiere market for big broker dealers. You pretty much had to be a player because that's where the revenue was--and of course the bragging rights.
The most critical market under the FICC umbrella remains the fixed income market. When Morgan S
Hedge funds ease grip on prime brokerages
Not too long ago, in the wake of the financial crisis and implosion of Bear Stearns and Lehman Brothers, the angst was palpable when it came to counterparty risk. Many hedge funds responded by spreading their eggs a bit, embracing multiple prime brokers, just in case one of them went belly-up.
Citadel to shut down investment bank operations
There was time not so long ago when the alternative asset managers seemed liked they were poised to compete with Wall Street's top broker dealers. Flush with massive profits and hubris, various private equity firms like KKR and hedge fund-oriented firms like Citadel boldly proclaimed their intenti
U.S. debt downgrade would hit FICC trading profits
The deal reached between Congressional Democrats and Republicans to lift the U.S. debt ceiling was greeted as good news on Wall Street. But the deal--unfortunately--did not render a debt downgrade out of the question. It's still quite possible that the debt will be downgraded from triple-A if the
Goldman Sachs: Too big to prosecute
We've often wondered whether Goldman Sachs ( NYSE: GS ) is still too big to fail . But a Forbes columnist raises an interesting point: Is Goldman also too big to criminally prosecute?
His thesis is that the firm is so big and powerful as a Treasuries dealer that a criminal prosecution
