By Larry Hicke (via Commodities-Now) (Guest Post)
Rogue trading has become a mature business characterised by low levels of innovation and familiar patterns. The latest affair involving UBS trader Kweku Adoboli over the $2bn loss in UBS’s London-based exchange traded funds business is just the latest example. Prior to this, the last case to hit the headlines was a typically pedestrian affair. An oil trader in London, who was only authorized to place trades on behalf of clients, had a punt in the Brent oil market and promptly lost $10 million – more than his firm had made the year before. The…
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