JPM's Bruno Iksil is cooking up a storm over the large credit derivative positions he's taking. Some say his bets violate the Volcker rule and are shifting the entire index.
The trader became such a big client of credit-derivatives dealers that some started calling him Voldemort, the Harry Potter book-series villain so powerful he simply was referred to as “He Who Must Not Be Named,” said one fund manager
But as this is in London, the Volcker rule doesn't apply. Does this put the US at a disavantage if the Volcker rule is implemented? Are Iksil's bets ethical? Or are they just downright stupid? Rogue-trader in the making?
I'm only a trader on my personal account and I'm interested in knowing more about this. Anyone on this market?
http://www.bloomberg.com/news/2012-04-09/JPMorgan-trader-iksil-fuels-pr…
Why does this call for an insult on Voldemort?
Yeah I should've clarified that...fixed.
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