Three simple steps towards risk immunisation
There are a number of factors in the Société Générale fall from grace that should make foreign exchange risk managers sweat, and several that they should check at their own shop.
You are not immune
Human nature is not a variable. If you employ traders to take risk - whether skilled programmers or not, or people with backgrounds in your middle-office or not - you will employ a certain percentage that will try to cheat to get ahead. Just as surely as you will employ gamblers who refuse to cut their
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