2008 Société Générale trading loss and Derivative (finance)

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Difference between 2008 Société Générale trading loss and Derivative (finance)

2008 Société Générale trading loss vs. Derivative (finance)

In January 2008, the bank Société Générale lost approximately €4.9 billion closing out positions over three days of trading beginning January 21, 2008, a period in which the market was experiencing a large drop in equity indices. In finance, a derivative is a contract that derives its value from the performance of an underlying entity.

Arbitrage

In economics and finance, arbitrage is the practice of taking advantage of a price difference between two or more markets: striking a combination of matching deals that capitalize upon the imbalance, the profit being the difference between the market prices.

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Barings Bank

Barings Bank was a British merchant bank based in London, and the world's second oldest merchant bank (after Berenberg Bank).

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Credit default swap

A credit default swap (CDS) is a financial swap agreement that the seller of the CDS will compensate the buyer in the event of a debt default (by the debtor) or other credit event.

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Equity derivative

In finance, an equity derivative is a class of derivatives whose value is at least partly derived from one or more underlying equity securities.

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Federal Reserve System

The Federal Reserve System (also known as the Federal Reserve or simply the Fed) is the central banking system of the United States of America.

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Financial Times

The Financial Times (FT) is a Japanese-owned (since 2015), English-language international daily newspaper headquartered in London, with a special emphasis on business and economic news.

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Mathematical finance

Mathematical finance, also known as quantitative finance, is a field of applied mathematics, concerned with mathematical modeling of financial markets.

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Nick Leeson

Nicholas William "Nick" Leeson (born 25 February 1967) is a former derivatives broker whose fraudulent, unauthorised speculative trading, for which he was sentenced to prison, caused the spectacular collapse of Barings Bank, the United Kingdom's oldest merchant bank.

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Société Générale

Société Générale S.A. (often nicknamed "SocGen" (pronounced "so jenn") in the international financial world) is a French multinational banking and financial services company headquartered in Paris.

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Swap (finance)

A swap is a derivative contract where two parties exchange financial instruments.

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