Search results

Basically, yes. You can be authorised as a Sole Trader member firm if you can fulfill the requirements. Authorisation cost of around (all found) c £20,000 plus a minimum of Euro50,000 deposit (can't be touched) plus your annual overheads. Grant.

I supported the UK/US decision to invade Iraq. The function of the armed forces of all countries is to protect their (and their allies’) interests, which are usually economic. A country can invade another to take possession of that country’s assets (aggression). The ethics and morals are...

Given the rapid falls this week, wasn't the late rally today possibly due to short covering/profit taking ahead of the (uncertain) weekend? If someone has access to S&P futures volumes, maybe heavy volume late in the session would confirm this. Grant.

Rateesquad, I think you mean "ja". I would love to learn German - I really like the people - but lack the time. Grant.

I would suggest money should lead to hapiness because it provides (greater) freedom from the principal pressure facing the majority - inadequate funds to maintain a decent standard of living, eg paying the rent, mortgage, school/college fees, medical bills (it may be free here in the UK but it's...

Susukino, Your right. From Wikipedia, 2005 figures from the IMF show US GDP ($m) at 12,277,583, China at 9,412,361. India is is fourth position. Surprisingly, Russia is in tenth position, behind Brazil. What will the rankings be like next year? I reckon China, Russia and...

Ratesquad, What tangled webs we weave. Bourdie may well be referring to the US class structure but he applies the attributes of European, 19th century class stereotypes. Can’t you see that? It’s anachronistic. Isn’t the case that the US has always been (loosely) a meritocracy; that...

Rateesquad, Bourdie is using stereotypes/cliches based on 19th century notions of the European class structure. “he did not take in occasional exceptions”. Being selective hardly constitutes, or even aspires to, scientific legitimacy. His theory of class attributes is, like the...

Fatrat, I think the point re hiring maths Ph.D's is they have demonstrated the capacity for original thought and research. If they're hired, there is a belief they can produce unique approaches, be innovative, and solve problems, eg identify potential arbitrage. At worst, they can...

Ratesquad, "he is borderline commi....and was influenced by Marx ... so I did not really get into his works". Communist = cretin Capitalist = intellectual. There's a paradox. You must be an intellectual. So how come some of the upper class are total philistines, opera is...

This is an impressive post – will run and run. My apologies if I break the flow but if I may, I would like to add a few thoughts. Appeals to authority are generally shitty rhetorical devices. In the current context, why should it be assumed that a scientist, eg physicist, has superior...

ES, I lack the patience to read (all) the right-wing loony, political theory cloaked by a veneer of intellectual/academic legitimacy (pause for breath). This is basically a justification for current US foreign/economic policy (which I’m not criticising) but there are weaknesses...

MM, If I caused any offence, I apologise unreservedly. Grant.

MM, I'm puzzled as to why you are asking these questions. Who knows better than you - a market-maker - how to trade? You've probably forgotten more than the majority will ever learn. And what you don't know probably isn't worth knowing. And why are you always looking for the "free"...

Nazzdack, Thank you for the reply. I can look at your points in my model. Hopefully this will then demonstrate what Derman refers to. Seems more straightforward in your terms. Thanks, once again. Grant.

Perhaps someone can clarify a few points for me re Emanuel Derman’s paper, “Modeling the Volatility Smile” ,October 2006 http://finmath.stanford.edu/seminars/documents/Stanford.Smile.Derman.pdf Generally, how is the volatility of volatility determined (I can determine implied by...

Rosy, What is hard for me to comprehend is the apparent ease with which you can do this. I am totally ignorant of the mechanics of, and requirements for, quoting on Globex. But from what you say, it seems anyone can (legitemately?) act as mm. That is what I have difficulty with. Grant.

Rosy, Therefore, can I assume you are a ""bona fide" mm? It's not apparent from the posts. Speculation on this thread would be non-existent and the thread would be reduced by 50%. Right or wrong, posters are judged by perception - and misconceptions - rather than reality. However...

Isn't the problem of using non bona fide mm's that of enforcing a contract, ie if it goes the wrong way (for either side) resulting in a loss and one side walks away, what recourse is there beyond civil (or criminal?) proceedings? Further, if one of the parties lacks the financial resources...

moneythansense “That means it is volatility neutral. It can't really be debated!” So he won’t be whacked if the market dives and vol jumps? You’re right, my mistake – no-one suggested it was market neutral. “Does that make it bad”? There are better bullish positions...