A West Coast options trading floor affiliated with the New York Stock Exchange (NYSE) will be partially reopening on Monday, May 4 — a possible harbinger of other open outcry trading floors resuming in-person operations as the economy re-emerges from the pandemic lockdown. The announcement came via an alert to traders on April 28 from… Read More >>
HSBC Halts Layoff of 35,000 Staffers
HSBC is putting the brakes on a layoff of 35,000 staffers that was originally announced in February, in a move to ease hardships during the pandemic. Other firms such as Morgan Stanley either have or are mulling similar halts to staff reductions. “I take the well-being of our people extremely seriously,” says Noel Quinn, group… Read More >>
Can Good Books About Pandemics Help Now?
Why would someone put together a reading list of the top books about pandemics? That was my first question when I saw the suggestions from Catharine Riggs, a mystery/thriller writer who once had a career in financial services. Riggs has compiled a unique reading list of her “favorite pandemic/dystopian reads,” which are notable works about… Read More >>
Standard Chartered Evaluating Zoom & Google Hangouts
Standard Chartered is acting to review and approve secure web-based videoconferencing and related systems for its staff working remotely because of the pandemic, and the bank is still evaluating the services of Zoom Video Communications, a source familiar with the situation tells FTF News. Standard Chartered’s Zoom concerns came to light on April 14 via… Read More >>
Should Hedge Funds Skip the Paycheck Protection Program?
In yet another sign of these pandemic times, the U.S. Congress has passed an act launching a $349 billion emergency loan program — the Paycheck Protection Program (PPP) — that operates through the Small Business Administration. Under the federal program, “most businesses with 500 employees or fewer are eligible for two-year loans with a 1%… Read More >>
SIMM Is Riding Out the Volatility Storm: ISDA
The global, economic tsunami caused by the COVID-19 pandemic is, among other things, spurring questions about the best way firms can calculate initial margin (IM), given the recent onset of wildly volatile financial markets. As you will recall, IM is essential for firms that engage in derivative transactions that are not centrally cleared. Firms are… Read More >>
Investors Question U.S. Government’s COVID-19 Response: Survey
Limited partner (LP) investors are having some major reservations about the federal government’s handling of the COVID-19 pandemic, which is also affecting their investment activity, according to a new survey from global capital placement agent Eaton Partners. Among the results from the “Eaton Partners LP Pulse Survey” is that “an overwhelming majority of institutional investors… Read More >>
