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Product Control is a control and support function, responsible for ensuring accurate financial reporting for trading, lending and treasury desks. [1] [2] The function is an important risk management element within investment banking, and is also often employed by corporate treasuries, hedge funds, and more recently, crypto trading firms.
One famous rogue trader is Nick Leeson, whose losses on unauthorized investments in index futures contracts were sufficient to bankrupt his employer Barings Bank in 1995. . Through a combination of poor judgment on his part, increasingly large initial profits, lack of oversight by management, a naïve regulatory environment, and an unforeseen outside event, the Kobe earthquake, Leeson incurred ...
A trading turret or dealer board is a specialized telephony key system that is generally used by financial traders on their trading desks.Trading has progressed from floor trading through phone trading to electronic trading during the later half of the twentieth century with phone trading having dominated during the 1980s and 1990s.
Product Control is primarily responsible for "explaining" the P&L; i.e.: attributing returns to individual desks, decomposing these into their risk factors, and ensuring that traders' positions are reflected at their market values; the tools here are often built by a separate quant team, possibly front office, but maintained by Product Control.
As part of these deals, the banks' trading desks will use MSCI index data to support their origination of OTC derivatives and structured products and for delta one use cases.
Trading desks at major banks are expecting a flurry of activity when the chaotic 2024 election comes to a close, and that could cement what is already a banner year for Wall Street.
Sales and trading is one of the primary front-office divisions of major investment banks. The term is typically reserved for the trading activities done by sell-side investment banks who are primarily engaged in making markets for institutional clients in various forms of securities. [ 1 ]
Delta one trading desks are either part of the equity finance or equity derivatives divisions of most major investment banks.They generate most revenue through a variety of strategies related to the various delta one products as well as related activities, such as dividend trading, equity financing and equity index arbitrage.