Should Trading Systems be 'Rogue Tested'?
BEFORE THE SPIN
As our story on the National Australia Bank (NAB) details, the firm has no plans to abandon a currency options trading platform that was a key element in a rogue trading foreign exchange (FX) scandal that cost the bank $280 million. In fact, officials at the firm say they have plugged the loopholes that facilitated the trading abuses. However, it's not exactly all's well that ends well for NAB.
It's clear that this situation cries out for a fundamental change in the way sell-side firms test their
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