A Morgan Stanley Trader is Gone and Wall Street Rivals Take Note – Bloomberg
August 3, 2017 \ 3 Comments
Full Article: Bloomberg
His undoing at the bank began when Hutchin Hill, a hedge fund with about $3 billion in assets, noticed someone carried out a trade on a security that it also owned, sparking a decline in the price.
The impact of recent regulatory changes have created a deeper need for the sell side to cater to the buy side. Lying is unacceptable for BOTH the buy side and sell side. I’m glad to know that the buy side is sinless.
I found this article a little hard to follow. From what I can gather, here are the facts. 1) A HF got upset because someone traded a bond that they are long 2) After investigating, it looked like a MS trader was involved 3) The MS trader initially denied being involved 4) The HF complained to the trader’s boss 5) MS then admitted to doing the trade and then fired the trader If the above is true, why isn’t this article focused on the real question? Why is Hutchin Hill furious about a trade happening in a position they own?… Read more »
wonder what would happen if MS called Hutchin Hill and asked them if they were involved in a trade.
If HH thought the value was wrong, progressive options are out there to put your money where your mouth is. Become a buy side liquidity provider by sticking a bid where you believe value is in “all to all” or matching systems. Wonder what the results would be.
Blackrock’s Richard Prager: The Liquidity Is Out There – Institutional InvestorMarch 18, 2016
Everyone is Worried About the Thing Markets Need Most, But They’re Not Asking the Right Questions – Business InsiderMarch 25, 2016
US Companies Overpaying for Bonds; Banks May Be to Blame – ReutersMarch 31, 2016