2008 Société Générale trading loss on January 28, 2008 with abuse of confidence and illegal access to computers. He was released from custody a short time after. The charges filed carry a maximum three-year prison term. On January 29, 2008 investigating judges Renaud van Ryumbecke and Francoise Desset had rejected prosecutor Jean-Claude Marin's bid to charge Kerviel with the more serious crime of "attempted fraud" and refuse bail. Société Générale characterizes Kerviel as a rogue trader and claims Kerviel worked these trades alone, and without its authorization. Kerviel, in turn, told investigators that such practices are widespread and that getting a profit makes the hierarchy
Day trader trader but both types of traders can trade in the same markets. Previously seen as a niche market, or something for institutional speculators, the foreign exchange market (forex) by 2010 had increased exponentially to an average daily volume of about $4 trillion USD worldwide, with spot retail forex trades accounting for an estimated 10% of that volume. Possible reasons for the surge in retail forex trading include the now high margin requirements in individual U.S. equities (stocks) for day traders imposed after 2001, and apparent overt manipulation of commodities markets by banks, making commodity futures markets a less desirable market