Sal Oppenheim Reorganises After Detecting DM24M Options Loss
Sal Oppenheim, the Cologne-based private bank, has reorganised its trading operations after discovering trading losses of DM24 million. The losses were caused by a rogue bond options trader - since fired by the bank - and were brought to light by Oppenheim's internal trading control department.
Oppenheim organises its trading operations in a three-tier structure, says a spokesperson for the bank: "We have the trading room, the settlement department - which is totally separate from the trading
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