JEROME KERVIEL
A French trader who was charged with losing over $7 billion in Société Générale’s assets by executing a series of unauthorized and false trades from 2006 to early 2008. When the financial services company discovered that Kerviel has placed tens of billions of dollars' worth of unauthorized trades, they immediately closed out the open positions, most of which were specialized equity arbitrage trades, and contained the extent of fraud. Some of the trades were terminated due to a dwindling market at the time of sale.
POPULAR TERMS
Proved Reserves
It refers to the amount of resources that can be recovered from the deposit with a reasonable certainty level.
Cumulative Discount Privilege
In mutual fund, a way an investor can become eligible for lower fees by getting the sum of multiple transactions in several funds within the same f ...
Commercial Hedger
Companies purchasing futures positions in commodities to control its costs. When used in creating a product or service, corporations can hedge to r ...
Hurdle Rate
The minimum rate of return required by a manager on a project. The riskier the project, the higher the hurdle rate.
Sensex
Sensex is the abbreviation for the index of the Bombay Stock Exchange (BSE) that is the Bombay Sensitive Index. In 1986, the Sensex was initially c ...
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