JPMorgan Sues London Whale's Former Boss
JPMorgan Chase & Co has filed
suit against the former boss of Bruno Iksil, the trader known as
the London Whale for the outsized derivatives positions he took
that cost the bank $6.2 billion this year, according to a
NYSE to Test New Plan; Trading Floor Undamaged by Storm
NYSE Euronext said it plans to
test a new contingency plan to help resume stalled U.S. equity
trading, and added that its famed trading floor is not yet
damaged by Sandy, one of the biggest storms to hit the United
The Evolving Role of the CDO
John Bottega, who has been chief data officer at Citi, the Federal Reserve Bank of New York and now Bank of America, says the role of data in the enterprise is increasing.
Big Data: A Big Deal for Trading Floors
Regulators are requiring financial firms to store many types of trading communications, including voice, IM, mobile SMS, and social networks putting stress on existing systems, writes Orange Business Services- Trading Solutions;s Sébastien Jaouen.
BlackRock Profit Climbs on ETF Gains
BlackRock Inc, the world's
largest money manager, said third-quarter profit rose 8 percent
as investors poured cash into its iShares line of
Citigroup Profit Drops As It Writes Down Brokerage Unit
Citigroup Inc said quarterly profit
plunged on a $4.7 billion writedown of its stake in a brokerage
operated by Morgan Stanley, but North American mortgage
lending revenue increased and capital markets results rebounded.
How To Drive Down IT Spending
While regulation places increasing pressure on firms’ technology and data volumes continue to skyrocket, how can firms limit their IT spend?
Second-Tier Banks Need Capital Top-Up By 2016
Nationally important banks
will need to hold extra capital from 2016 to cushion the impact
on their domestic economies if they hit trouble, but the global
banking watchdog will leave it up to national regulators to say
how much more.
Data Center Spending Is Simply Unsustainable
Financial firms spend millions to build data centers and then millions annually to continue running the facilities. A perfect storm of increasing costs and server underutilization and declining industry revenues are forcing firms to rethink their data center strategies.