Since the disposal was announced, Energy Risk has learned that Morgan Stanley completed the transfer of the account - the value of which was not revealed - in two days after being approached by FCStone, a commodity risk management firm, in early 2009.
FCStone announced in November 2008 that it expected to post a bad debt provision of up to $25m due to losses on an undisclosed customer's energy trading account, for which it provided clearing and execution services. This was increased to between $8
The week on Risk.net, October 6-12, 2017Receive this by email
- SGX, HKEX expect to be among first wave of Mifid II equivalence
- Leaked EU doc could shield legacy swaps from clearing grab
- ABS set for revival under US Treasury’s liquidity buffer plans
- Quantile, TriOptima face off in cleared swaps compression battle
- Quants stymied by lack of alternative risk premia flows data