Wáár blijft de film?!
Nee, het zijn toch niet een handvol old school handelaren geweest die in hun trading pit boven de pub in april de beruchte negatieve olieprijs aan een touwtje hadden en er met de buit vandoorgingen?! Bloomberg schrijft het in ieder geval wel in een fantastische reconstructie. Ik hoop dat u het verhaal open krijgt.
Als het allemaal waar is...? Stiekem vind ik het machtig mooi als in het quant- en high frequency-tijdperk op de beurs ouderwets handelsgogme en -skills alles en iedereen aftroeven. Dit lijkt daarop.
But for a small group of veteran traders at a tiny London firm called Vega Capital London Ltd., the mystery mattered less than the results: They pocketed as much as $500 million that day, according to people familiar with the matter, who spoke to Bloomberg Businessweek on condition of anonymity.
Vega’s jackpot, which hasn’t been previously reported, involved about a dozen traders aggressively selling oil in unison before the May West Texas Intermediate contract settled at 2:30 p.m. in New York, the people say.
It’s a tactic Vega’s traders used regularly, according to another person familiar with the firm’s strategy, but that day its trading coincided with a period of unprecedented volatility, when demand for fuel was wiped out by the coronavirus pandemic, and storage space in Cushing, Okla., where buyers take physical delivery of WTI crude, had all but disappeared.
Now regulators at the U.S. Commodity Futures Trading Commission, the U.K.’s Financial Conduct Authority, and CME Group Inc., owner of the Nymex exchange where the trading took place, are examining whether Vega’s actions may have breached rules on trading around settlement periods and contributed to oil’s precipitous fall, according to people with knowledge of the probes.