In case we needed a reminder of the risk that lurks in the global markets, J.P. Morgan's recent blown hedge provides 2 billion (and counting) reasons why we need stronger regulation and improved transparency in the capital markets. Yet two years after Dodd-Frank became law, the financial reform package appears to be dying a slow death, and many experts suggest that the Volcker Rule -- perhaps the most important and controversial aspect of financial reform -- will never work. Advanced Trading's July digital issue looks at what, if anything, on Wall Street has changed since the credit crisis and examines the challenges regulators face in enforcing the ban on proprietary trading.
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In This Issue:
- MISSION IMPOSSIBLE: ENFORCING THE VOLCKER RULE: As regulators gear up to phase in the Volcker Rule, experts say a myriad of obstacles may keep the law from functioning as intended.
- WHAT WENT WRONG WITH J.P. MORGAN'S $2 BILLION HEDGE? Widely respected for its traditionally strong risk management practices, J.P. Morgan simply dropped the ball with its recent $2 billion -- and counting -- hedging loss. We break down what went wrong.
- CAN SOCIAL MEDIA SHARPEN QUANT MODELS? Experts scoff at the idea of social media-based sentiment analysis being the backbone of a trading strategy. But it could hold promise as a part of a multifactor quant model.
- BEYOND DODD-FRANK -- THE DIRE CONSEQUENCES OF INACTION: Many buy-side firms are only addressing the basic requirements for counterparty risk management. What are firms missing, and what will it cost the industry?
- THE ALLURE OF ZERO INFRASTRUCTURE: According to Tabb Group's Bob Iati, as industry profits languish, many firms are asking, 'Can we get to a point where we have zero infrastructure?'
- CANADA'S ASSET MANAGERS TAKE PRUDENCE GLOBAL: Canadian asset managers are looking to trade globally with the same preparedness that helped them survive the 2008 credit crisis.
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