OTC MARKET NEWS Powered By Quantifi

Wall Street’s Latest Must-Have? A Volcker Helper 

June 20, 2014
Peter Eavis, Dealbook

The next accessory desired by top Wall Street traders may not be swanky cufflinks or a Swiss watch.

It could be products with names like the Volcker Assistant or the Volcker Portal.

A year from now, Wall Street firms have to comply with the Volcker Rule, a batch of regulations that aim to restrict the type of trading that banks can do. Named after Paul Volcker, the former chairman of the Federal Reserve, the rule is meant to stop banks from making bets for their own profit, an activity known as proprietary trading. The rule, however, allows broker-dealers to trade on behalf of clients and hedge their positions in certain ways.

Read More: DealBook

 
Comments are closed on this post.

Subscribe

Submit your email to receive our newsletter

GO