Thursday, 13 September 2012

Rogue Trader

This is the movie "Rogue Trader" which is based on the true story of the rogue trader, Nick Leeson, who's poor trades and deceit resulted in the collapse of Barings Bank in the mid 1990's. The movie provides a dramatisation of the events and a look at the personal story of the man who brought down the bank. For clarity, a 'rogue trader' is a trader who is trading outside of their limits (usually hiding losses) and who ends up losing money for the institution at which they work; there have been recent cases of rogue traders e.g. Jerome Kerviel at Societe Generale, and Kweku Adoboli at UBS. Rogue traders often let large losses get out of control by manipulating the compliance and reporting processes. For a documentary on the case of Nick Leeson and Barings Bank, see: 25 Million Pounds

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