法興災難可能有幾大鑊

縱使我自己未有米到自己訂Bloomberg的服務,但好多財經報導,我都會優先睇咗Bloomberg.com版本,因為Bloomberg新聞係俾行家睇,佢地寫好多嘢,已經中咗key point,你之後知道你應該點做決定。香港人知道法興好多窩輪,但法興呢次出事,對窩輪界有幾大打擊。

Societe Generale has ranked first or second during the past five years in client surveys of equity derivative firms, according to Risk Magazine. In 2007, it received the award for “Equity Derivatives House of the Year” from The Banker, a London-based monthly magazine.

連法興作為衍生工具界的龍頭大哥都搞成咁,咁其他又點,大家諗吓。

Societe Generale said that it has already closed all the positions set up by the trader, who had used his experience working in the back office to hide his trades through fictitious transactions.

back office,係做trader呢班友的俗稱,指負責處理交易前後果堆文件的地方。trader主力睇個市,同埋做trade,但做完trade後,要寫report,要交好多監管要求的文件,呢堆文件,以及涉及結算的嘢邊個處理,back office。trader係front office,而back office會核對所有文件,或交易程序有無騎呢嘢,之後才清算。(如果有錯,請各路英雄指正)

當trader好熟back office運作時,就有可能睇到back office運作程序的loop hole,然後玩嘢,呢鋪正係法興個back office可能做嘢有loop hole。所以呢單trade具體係點操作,全世界都好想知,因為隨時係比Dr. Evil Trade更加精細的出術事件。

但法興的press statement最奇怪係:The trader didn’t enrich himself and his motivations are unclear。好了,果位trader查實想點,邊條友指使佢咁做?因為窩輪交易,或法興自己監管機制,仲有乜漏洞?咁玩法,又可能潛藏幾多問題?唔好唔記得,有唔少trader係back office出身。

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