News Platforms 

Day trader tries out ‘demo’ platform, ends up with actual $5 billion position

“But the French day trader discovered that in fact, he had been placing actual orders worth 1 billion euros ($1.2 billion), according to a Financial Times report” writes Markets Writer for marketwatch.com. Harouna Traoré was making trades with Valbury Capital last summer — on a try-out version of the British brokerage’s platform, he thought.Valbury told him it had treated the trades as an error because Traoré had thought he was using a demo platform. Source: marketwatch.com Share This:

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Noble Group says key shareholder approves revised restructuring plan

“(Reuters) – Embattled commodity trader Noble Group on Wednesday said its shareholders would receive 20 percent of the equity in the company after restructuring, and that Goldilocks Investment Co would support the revised plan” writes Midwest Communications Inc for 95kqds.com. Goldilocks had filed complaints and lawsuits against Noble, arguing that the planned restructuring protected creditors at the expense of shareholders.Noble said the remaining equity in the new restructured company would be 70-percent held by senior creditors and 10 percent by management. Source: 95kqds.com Share This:

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Wall Street wants more female traders, but old perceptions die hard

“Headhunters say, however, it will take time before effects of such efforts show up in banks’ gender ratios” reports businessinsider.com. Banks are so keen to improve their diversity ratios that one declined to make young female traders available for interviews out of fear they might get poached by competitors.”Firms would like to have more women in trading and other areas, but there aren’t that many women in the pipeline.”.  Source: businessinsider.com Share This:

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News Stocks 

How this 23-year-old became the only full-time woman trader at the New York Stock Exchange

“That’s the case for New York Stock Exchange trader Lauren Simmons” writes Courtney Connley for cnbc.com. The 23-year-old is an equity trader for Rosenblatt Securities, and she is both the youngest and the only full-time female employee to hold that position at the NYSE. “When I tell people what my job is they are always surprised,” she tells CNBC Make It. Source: cnbc.com Share This:

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Crypto Markets News 

Bitcoin hasn’t hit bottom, cryptocurrency trader says

“The price of bitcoin may sink even lower, cryptocurrency trader Ran Neu-Ner says” writes unknown author for cnbc.com. “We keep going down, and we’re testing new lows,” Neu-Ner said Monday of the cryptocurrency market on CNBC’s “Fast Money.”. Neu-Ner pointed out that the cryptocurrency market is in its infancy, and these things are expected.Regardless, the early investor of bitcoin said now is a good time to buy bitcoin, “If you believe in the long-term of blockchain.”. Rather, what’s happening in the crypto space right now is a bear market, Neu-Ner…

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News Oil 

Exclusive: Exxon Mobil breaks with past, bulks up energy trading to boost profit

“This month, Exxon hired former BHP Billiton Plc trader Nelson Lee as an international crude trader, the people familiar with the matter said” reports businessinsider.com. “Paul is known for being a very aggressive, old school crude trader.The fact that he is consulting them shows they are considering changes in trading very seriously,” said a trading house executive who knows Butcher.”Trading has been a virtual four-letter word at Exxon,” said Ehud Ronn, a University of Texas finance professor who studies energy and financial risk management.Exxon last year retained John Masek, a…

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Markets News 

Wall Street will make more risky bets after rule change, with Goldman Sachs and Morgan Stanley leading the way

“Goldman Sachs traders lost $180 million last year on bad bets in natural gas markets, helping cause the worst commodities trading performance in the bank’s history as a public company” writes Andrew Harrer for cnbc.com. At rival firm Morgan Stanley, power and gas traders led by rising star Jay Rubenstein generated almost $400 million in revenue for the bank last year. But pockets of big risk-taking have persisted within the banks — and that could jump with last week’s proposed changes to the Volcker Rule.The big narrative out of Wall…

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Crypto News 

A crypto trader setting up a hedge fund apologised for making so much money

“John Lore, a lawyer who has advised over 30 cryptocurrency hedge funds, said one trader who approached him about setting up a fund, in fact, apologised to him, embarrassed by his crypto riches” writes Finanzen Net Gmbh for businessinsider.com. But performance has not been the issue for most emerging fund managers.”. No one would form a cryptocurrency fund without absolutely fantastic performance returns.”. Lore is the founder of Capital Fund Law Group, a New York firm that specialises in advising hedge funds and asset managers.”I would say right now most…

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Trader Joe’s Made $4 Organic Rosé Just In Time For Memorial Day Weekend

“So brace yourselves, wine lovers: Just in time for the start of the summer season, Trader Joe’s has released a new line of organic wines” writes Temi Adebowale for cosmopolitan.com. As the name implies, the Shaw wines are all made with organic grapes, which is great because who doesn’t love to feel like you’re being healthy when you’re day drinking?.  Source: cosmopolitan.com Share This:

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