January 14, 2012
There has been a fair amount written recently about various institutional cartels that are thriving in the US despite antitrust laws designed to prevent their existence. My previous column compared Wall Street’s few remaining investment banks to a cartel, with explicit pricing power over its hundreds of thousands of customers, an advantage that will [...]
Tags: Against Wall, Against Wall Street, Arbitration, Arbitration Process, Arbitrators, banks, Broker, brokerage, cases, court, Court System, Dispute, disputes, Final And Binding, Finra, firms, Generally, Is Final And, Is Final And Binding, Ldquo, millions, monetary, Monetary Recovery, money, New york, Nocera, Non Monetary, Non Monetary Recovery, Of People Who, Of Wall Street, people, percent, process, Rdquo, recovery, Regulatory, resolve, Star Chamber, Street, system, The Courts, The Millions, The Ncaa, Wall Street
Posted in Life in Vietnam | Comments Off
December 19, 2011
Terrence Duffy, executive chairman of the Chicago Mercantile Exchange (CME) Group. The drama over the meltdown of the brokerage firm MF Global pivots around a clash between two veteran traders who rose from relatively humble roots to the very top of the futures-trading business. One is Jon Corzine, the firm’s former CEO who just testified [...]
Tags: Acquisition Spree, At The Congressional, At The Congressional Hearings, billion, brokerage, Brokerage Firm, Business, Chairman, Chicago, Chicago Exchange, Cme Group, comment, Congress, Congressional, Congressional Hearings, Corzine, Corzine And Duffy, Customer, Customer Accounts, Customer Funds, Declined, Democratic, Democratic Politics, Duffy, Duffy Ldquo, Duffy Says, exchange, father, federal, Felt Compelled, futures, Futures Trading, global, Goldman, Hastert, Hastert Says, He Has Also, Hearings, Helped, His Business, His Father, investors, Known Duffy, Last week, Ldquo, Leverage Ratios, losing, Lost Money, Matter, Matter Ldquo, Mf Global, Mf Global Was, money, New Jersey, No Idea, Of The Chicago, Of The Chicago Exchange, Of The Financial, Politics, public, Rdquo, Rdquo Corzine, Rdquo Duffy, Rdquo Duffy Said, smoking, Smoking Gun, Street, Terrence Duffy, The Brokerage, The Brokerage Firm, The Cftc, The Chicago, The Chicago Exchange, The Cme, The congressional, The Congressional Hearings, The exchange, The financial, The firm, The Hearings, The Matter, The Matter Ldquo, To Stave Off, Told Congress, trader, traders, trading, Wall Street, When Mf, Who lost, Who Lost Money, years
Posted in International | Comments Off
November 11, 2011
A man exits the office complex where MF Global Holdings Ltd have an office on 52nd Street in midtown Manhattan New York, October 31, 2011. Long before the brokerage firm MF Global collapsed into bankruptcy and prompted a frantic search for missing customer money, the company had already established a checkered history. An analysis of [...]
Tags: 15 Included, According, account, accounts, actions, Against Mf, agency, alleged, Alleged Lapses, Alleged Violations, among, bankruptcy, Between 2000, Between 2000 And, brokerage, brokers, Business, Business Practices, By The Agency, By The Cftc, Canadian Bank, Case Mf, Cftc Sanctioned, Citigroup, claims, clients, comment, Commodity Futures, company, complaint, Complaint Filed, controls, Cosmo, Credit Suisse, Customer Money, Declined, Drawn, Dubbed Ldquo, Dubbed Ldquo Mini, Dubbed Ldquo Mini Madoff, earlier, Earlier This Year, Enforcement Actions, enforcement:, European Debt, failed, Familiar, federal, Filed, firms, For Alleged Lapses, Former, futures, global, Global Agreed, Global Ldquo, Global Says, Global Says The, Goldman sachs, Has Drawn, hedge, Hedge Fund, His Account, His Investors, His Investors Money, In That Case, In The Top, Included, Internal, Internal Controls, Into Bankruptcy, investors, Investors Money, Its Own, Jp Morgan, Last week, lawsuit, Lawsuit Filed, Lawsuit Says, lawsuits, Lax Oversight, Ldquo, Ldquo Mini, Ldquo Mini Madoff, Ldquo Mini Madoff Rdquo, Long Island, losses, Madoff, Madoff Rdquo, Mf Global, Mf Global Agreed, Mf Global And, Mf Global For, Mf Global Has, Mf Global Ldquo, Mf Global Said, Mf Global Says, Mf Global Says The, Mf Global Was, million, Mini Madoff, Mini Madoff Rdquo, money, Montreal, Morgan, On The List, Other Firms, Oversight, penalties, Person, Person Familiar, Person Familiar With, Ponzi, Ponzi Scheme, Private Lawsuits, Rdquo, Record, Recordkeeping, records, Red Flags, regulators, Risk Supervision, Risk Taking, sanctioned, scheme, Several, supervision, Supervision And Recordkeeping, taking, The Agency, The bank, The Brokerage, The Canadian, The Canadian Bank, The case, The Cftc, The Cftc Sanctioned, The company, The Complaint, The Complaint Filed, The firm, The Lawsuit, The List, The Time, The Top, The Trader, The Trader Who, The Trustee, The Violations, The Wheat, The Wheat Trader, The Wheat Trader Case, This year, Through Mf, To The Agency, To The Complaint, Top 15, trader, Trader Case, trades, trading, Trustee, Us Commodity, Us Commodity Futures, violations, Wheat, Wheat Trader, Wheat Trader Case, With The Cftc, years
Posted in International | Comments Off
January 21, 2010
VietNamNet Bridge – Many securities companies are head-hunting to improve their competitiveness and weaken their rivals. Who’s hunting? After a two or three month probation period, working with no pay, a novice securities officer would receive 3-4 million dong monthly salary. Meanwhile, the incomes of head officers are ten times higher. According to Dau Tu Chung [...]
Tags: 50 Percent, brokerage, Brokerage Market, brokers, clients, companies, Companies Are Also, company, market, Market Share, Meanwhile, million, Million Dong, month, Of The Market, Of The Market Share, percent, securities, Securities companies, Securities Companies Are, Securities Companies Are Also, Securities Company, share, The Average, The Brokerage, The market, The Market Share, The Top, Times Higher, Working
Posted in Business, News | Comments Off
January 15, 2010
VietNamNet Bridge – Despite the economic downturn 2009 turned out to be a satisfactory year for securities companies. Kim Long Securities Company (KLS), which now has shares listed on the Hanoi Stock Exchange, was the first company announcing business results for 2009. KLS’ turnover was 434.8 billion dong meaning a post tax profit of 352 [...]
Tags: 300 Billion, 300 Billion Dong, Biggest Brokerage, billion, Billion Dong, Billion Dong And, brokerage, Brokerage Share, Business, Business Results, Chartered Capital, companies, company, Direct, Hanoi Stock, Hanoi Stock Exchange, Itself Among, Itself Among The, List Shares, Long Securities, Long Securities Company, market, On The Hanoi, On The Hanoi Stock, Post Tax, Post Tax Profits, profits, reported, securities, Securities companies, Securities Companies With, Securities Company, share, shares, stock, Stock Exchange, Tax Profits, The Biggest, The Biggest Brokerage, The company, The first, The hanoi, The Hanoi Stock, The Hanoi Stock Exchange, To List Shares, Viet Securities, Viet Securities Company, Vn Direct, With The Biggest, With The Biggest Brokerage
Posted in Business, News | Comments Off
January 10, 2010
Milk prices slide, farmers see losses; Overseas remittances down 12.8%, says State Bank; Hanoi to host int’l trade, investment fair; Businesses optimistic about economic development in 2010; Coffee exports hit record high Milk prices slide, farmers see losses Dairy farmers in Ho Chi Minh City’s Cu Chi District January 8 said they have been forced [...]
Tags: 000 tonnes, 100 Million, 11 31, 11 Million, 146 Businesses, 16 Million, 26 Per, 26 Per Cent, 31 Per, 31 Per Cent, 37 Per, 37 Per Cent, 37 Per Cent Stake, 40 Per, 40 Per Cent, 49 Percent, About Economic, According, accounts, agricultural, All Gold, All Gold Trading, Association, Bank Shares, banking, Banking Services, banks, based, Based bank, billion, brokerage, Brokerage Market, Business, Businesses, Businesses Plan, Cai mep, Cambodia, Can tho, Can Tho Based, Can Tho Based Bank, Canadia Bank, capital, Cent Stake, Chairman, Charter capital, Chi minh, Chi minh city, City Stock, City Stock Exchange, co-op, Coded, coffee, company, Company Limited, cooperation, Cypress, Cypress Shipping, Dairy, December, Deputy, Deputy director, development, Development Bank, director, Director Nguyen, economic, Economic development, Economic recovery, Economics University, economy, Environmentally Friendly, exchange, expected, export, exporters, exports, Farmers, February, first, First Short, First Short Term, First Short Term Fund, For Investment And, Foreign, Foreign Accounts, Foreign Trade, Foreign Trade Bank, Fourth Quarter, General director, global, Gold Trading, Gon Newport, Government, Green Products, Hanoi, Hcm city, Hcm City Stock, Hcm City Stock Exchange, Ho Chi, Ho Chi Minh, Ho Chi Minh City, Hong kong, House Broker, House Broker For, In House Broker, In House Broker For, In The Fourth, In The Fourth Quarter, In the next, In The Southern, In The World, In viet nam, increase, increased, insurance, Insurance Sector, International, investment, Investment capital, Investment Fund, Investment Model, Its Charter, Its Charter Capital, January, joint, Joint stock, Joint stock company, Last year, leading, Life Insurance, List Shares, March, market, Market And Development, Market Share, Milk Prices, million, Minh city, modern, Most Businesses, Mr Tui, National, National Economics, National Economics University, Newport, Nguyen, Of Businesses Plan, Of The Year, Of Viet Nam, On The Hcm, On The Hcm City, opportunities, overseas, Overseas vietnamese, Per cent, Per Cent And, Per Cent Stake, percent, ports, prices, processing, products, public, Quantitative Investment, Quantitative Investment Model, quarter, raising, recovery, remittances, revenue, Rural development, Sacombank, Sai Gon, Sai Gon Newport, Saigon Co, second, sector, securities, Securities Coded, services, share, shares, Shipping, Shipping Co, Short Term Fund, short-term, stake, state, State bank, stock, Stock Co, Stock company, Stock Exchange, store, Sun Cypress, Sun Cypress Shipping, Tan cang, Tan Said The, Television, Term Fund, That Most Businesses, The association, The bank, The company, The Company Will, The Cost, The economic, The Economic Recovery, The exchange, The first, The foreign, The Foreign Trade, The Foreign Trade Bank, The Fourth, The Fourth Quarter, The global, The government, The hcm, The Hcm City, The Hcm City Stock, The Initial, The List, The List With, The national, The new, The Ports, The Quantitative, The Quantitative Investment, The Quantitative Investment Model, The second, The Second Half, The Southern, The state, The state bank, The three, The Three Day, The vietnam, The vietnamese, The world, The year, Their Cows, This year, Tho Based, Tho Based Bank, Three Day, To List Shares, To The Government, tonnes, trade, Trade Bank, trading, transport:, trillion, Viet Nam, Viet Nam Will, Vietcombank, Vietnam, Vietnamese, Western, Western Bank, Western Bank Has, world, Yesterday
Posted in Business, News | Comments Off
December 29, 2009
The power of brokers on the stock market is greater than people imagine, market insiders say Thao, a fresh graduate from the Economics University, thinks she is very lucky to make more money than any of her friends by working as a stockbroker. But her monthly income of VND32 million (US$1,730) is still a pittance [...]
Tags: accounts, Another Broker, Broker, brokerage, brokers, clients, commission, Greater Than People, Greater Than People Imagine, His Clients, information, investors, Is Greater Than, Is Greater Than People, loans, Many Accounts, market, million, Monthly income, New Investors, Of The Time, On The Stock, On The Stock Market, People Imagine, Said Brokers, securities, sometimes, stock, Stock Brokers, Stock Market, stocks, Than People, Than People Imagine, The Brokerage, The Information, The Power, The stock, The Stock Market, The Time, Their Brokers, Their Clients
Posted in Business, News | Comments Off
December 6, 2009
LookAtVietnam – Predatory stock ‘sharks’ hunt in packs, grouping together to invest big money small-time companies to boost share prices and feast on profits. Big-time investment “teams” whose members are known as “sharks” have been fixing stock prices by investing via several different accounts to manipulate market sentiment, a Thanh Nien investigation has found. Though [...]
Tags: 30 Percent, accounts, After They Buy, Anyone Rdquo, based, Bearish, Big Investors, Big Time, Big Time Investors, billion, Board Members, Board Members And, brokerage, Brokerage Companies, brokerages, brokers, Can Fix, Certain, commission, companies, company, Days After They, Days After They Buy, Fix Prices, found, Four Days, Four Days After, Four Days After They, Hanoi, Hanoi Based, In Hanoi Said, intelligence, investment, investor, investors, Ldquo, Ldquo Sharks, Ldquo Teammates, Ldquo Teammates Rdquo, Ldquo When The, Ldquo When The Market, Leverage, listed, Manipulate, Manipulate The Market, Many Sharks, market, members, named, Nien Ldquo, October, October 23, Only Need, Own Stocks, percent, power, Predators, price, prices, Push Prices, Rdquo, Rdquo Ldquo, Requested Anonymity, rumors, Said ldquo, Said Ldquo When, Said Ldquo When The, securities, Senior, Shark, Shark Told Thanh, Shark Told Thanh Nien, Sharks, Sharks Only Need, Sharks Told Thanh, Sharks Told Thanh Nien, small, Small Investors, Sold Their Stocks, stock, Stock Market, Stock Prices, stocks, Teammates Rdquo, teams, Thanh, Thanh nien, Thanh Nien But, Thanh Nien Ldquo, Thanh Nien That, The Commission, The Leverage, The market, The Market Was, The Predators, The price, The Sharks, The stock, Their Ldquo, Their own, Their Own Stocks, Their Stocks, These Investors, They Did Not, This year, Time Investors, To Push Prices, Told thanh, Told thanh nien, Told Thanh Nien But, Told Thanh Nien Ldquo, Told Thanh Nien That, Vnd1 Billion, When The Market, When The Market Was, Who Requested, Who Requested Anonymity
Posted in Business, News | Comments Off
December 5, 2009
Predatory stock âsharksâ hunt in packs, grouping together to invest big money small-time companies to boost share prices and feast on profits. Big-time investment âteamsâ whose members are known as âsharksâ have been fixing stock prices by investing via several different accounts to manipulate market sentiment, a Thanh Nien investigation has found.Though Vietnamese law only [...]
Tags: 30 Percent, accounts, After They Buy, based, Bearish, Big Investors, Big Time, Big Time Investors, billion, Board Members, Board Members And, brokerage, Brokerage Companies, brokerages, brokers, Can Fix, Certain, commission, companies, company, Days After They, Days After They Buy, Fix Prices, found, Four Days, Four Days After, Four Days After They, Hanoi, Hanoi Based, In Hanoi Said, intelligence, investment, Investment Teams, investor, investors, Leverage, listed, Manipulate, Manipulate The Market, Many Sharks, market, members, named, October, October 23, Only Need, Own Stocks, percent, power, Predators, price, prices, Push Prices, Requested Anonymity, rumors, Said Shark, Said Shark Investors, Said When The, Said When The Market, securities, Senior, Shark, Shark Investors, Shark Told Thanh, Shark Told Thanh Nien, Sharks, Sharks Only Need, Sharks Told Thanh, Sharks Told Thanh Nien, small, Small Investors, Sold Their Stocks, stock, Stock Market, Stock Prices, stocks, teams, Thanh, Thanh nien, Thanh Nien But, Thanh Nien That, The Biggies, The Commission, The Leverage, The market, The Market Was, The Predators, The price, The Sharks, The stock, Their own, Their Own Stocks, Their Stocks, These Investors, They Did Not, This year, Time Investors, To Push Prices, Told thanh, Told thanh nien, Told Thanh Nien But, Told Thanh Nien That, Vnd1 Billion, When The Market, When The Market Was, Who Requested, Who Requested Anonymity
Posted in Business, News | Comments Off
August 31, 2009
Agribank Securities Inc., the brokerage unit of Vietnamâs biggest lender, said it expects to start trading on the Ho Chi Minh Stock Exchange in December to take advantage of a rebound in the stock market. The Hanoi-based brokerage, know as Agriseco, submitted a listing application last week and has been working with the exchange on [...]
Tags: Agriseco, brokerage, Brokerage Unit, December, exchange, Last week, List Shares, On The Exchange, shares, stock, The Brokerage, The Brokerage Unit, The exchange, The stock, This year, To List Shares, Vietnam
Posted in Business, News | Comments Off
CME’s Duffy vs MF Global’s Corzine: A question of trust
Terrence Duffy, executive chairman of the Chicago Mercantile Exchange (CME) Group. The drama over the meltdown of the brokerage firm MF Global pivots around a clash between two veteran traders who rose from relatively humble roots to the very top of the futures-trading business. One is Jon Corzine, the firm’s former CEO who just testified [...]
Tags: Acquisition Spree, At The Congressional, At The Congressional Hearings, billion, brokerage, Brokerage Firm, Business, Chairman, Chicago, Chicago Exchange, Cme Group, comment, Congress, Congressional, Congressional Hearings, Corzine, Corzine And Duffy, Customer, Customer Accounts, Customer Funds, Declined, Democratic, Democratic Politics, Duffy, Duffy Ldquo, Duffy Says, exchange, father, federal, Felt Compelled, futures, Futures Trading, global, Goldman, Hastert, Hastert Says, He Has Also, Hearings, Helped, His Business, His Father, investors, Known Duffy, Last week, Ldquo, Leverage Ratios, losing, Lost Money, Matter, Matter Ldquo, Mf Global, Mf Global Was, money, New Jersey, No Idea, Of The Chicago, Of The Chicago Exchange, Of The Financial, Politics, public, Rdquo, Rdquo Corzine, Rdquo Duffy, Rdquo Duffy Said, smoking, Smoking Gun, Street, Terrence Duffy, The Brokerage, The Brokerage Firm, The Cftc, The Chicago, The Chicago Exchange, The Cme, The congressional, The Congressional Hearings, The exchange, The financial, The firm, The Hearings, The Matter, The Matter Ldquo, To Stave Off, Told Congress, trader, traders, trading, Wall Street, When Mf, Who lost, Who Lost Money, years
Posted in International | Comments Off