I was just scanning over this when my attention was caught ...
- JPMorgan has hired a machine-learning expert from its big Wall Street rival Goldman Sachs to work in the unit that monitors the bank's vast trading positions.
Yeah ... OK .... so far so zzzzzz
It goes on ...
- Chris Murray joined earlier this summer to help manage JPMorgan's global central risk book - a trading hub that gives the bank a bird's eye view of its inventories and risks.
- Banks with big markets divisions have turned to the model of operating central risk books, particularly for cash equities, in an effort to trade more efficiently.
But ...
- Critics of the model, however, believe CRBs could be used by banks to conceal so-called proprietary trading - when a bank uses its own capital to buy and sell securities - a practice that has been heavily restricted by post-crisis financial regulations.
Sounds like a plan :-D
