Sunday, 21 September 2014
Last updated 2 days ago
Jan 24 2012 | 1:24pm ET
Man Group CEO Peter Clarke has thrown his weight behind the return of the "uptick rule," a short-selling restriction that he said could prevent sudden market crashes.
Clarke told the London School of Economics Alternative Investment Conference yesterday that the rule, first instituted during the Great Depression, abolished in 2007 and revived in part in 2010, could prevent high-frequency traders and quantitative programs from fueling "flash crashes" like that seen in 2010.
"From a personal perspective, reintroducing the uptick rule… would not be a particularly bad thing," he said. "You can only short when the previous trade was an uptick, which would stop some of the… quant strategies from becoming systemic in certain markets over the short term."
In 2010, the SEC revived a form of the rule, imposing the uptick requirement on stocks that drop 10% or more in a single day.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.