Rookie Currency Traders Are Causing Big Problems
- Job cuts leave fewer senior staff to handle black-swan events
- Inexperienced traders amplified pound’s flash crash, BIS says
Rookie Currency Traders Are Causing Trouble
This article is for subscribers only.
It’s been something of a common lament among Wall Street veterans for a while now. And it goes, more or less, like this: All these darn twenty-something-year-olds around here have no idea what they’re doing.
Perhaps it’s just the typical grousing of community elders, but last week, the Bank for International Settlements said there may be something to the notion.