Jérôme Kerviel bank a profit of US$2 billion as of 2007. Managers for Société Générale have described some of the means Kerviel employed to avoid the bank's internal controls and escape detection. Its Executive Chairman Daniel Bouton describes the pattern as like "a mutating virus" in which hundreds of thousands of trades were hidden behind offsetting faked hedge trades. Officials say Kerviel was careful to close the trades in just two or three days, just before the trades' timed controls would trigger notice from the bank's internal control system, and Kerviel would then shift those older positions to newly initiated trades. City
Modern Trader Modern Trader Modern Trader is a U.S.-based monthly print investment magazine. The publication was established in 1972 under the name "Commodities". The name was changed to "Futures" in September 1983 and "Modern Trader" in 2015. The magazine is a standard source in futures and option trading, and its SourceBook site is a standard reference to US brokerage and related services. The Commodity channel index was first published in "Commodities", before it was renamed to "Futures". The magazine was founded in 1972 as "Commodities", published by Leon Rose and Mort Baratz. It was bought in 1976 by Daniel Oster for Merrill.