2008 Société Générale trading loss positions built up by Kerviel. This has led to speculation that stock market turbulence caused the Federal Reserve Board to cut the rate. A Federal Reserve spokesperson denied the central bank knew of Société Générale's situation when it made its decision. It is estimated that over the period the total trading in futures and the cash market for the Euro Stoxx 50 was €544 billion. This would make the unwinding of Kerviel’s position account for five per cent or less of overall activity. Société Générale's investment banking chief, Jean Pierre Mustier, acknowledged that the three days of forced selling played
Trader Monthly Trader Monthly Trader Monthly was a lifestyle magazine for financial traders founded by Magnus Greaves. The headquarters was in New York City. The target audience of "Trader Monthly" was the financial community with an average income at or exceeding US$450,000 and/or net worth greater than $2 million. This included traders who worked at banks, hedge funds, exchange floors, proprietary trading companies, independent firms, private offices, insurance companies, asset management firms, energy firms, and other trading locales. The magazine had a BPA Worldwide-qualified circulation of 106,710 subscribers and launched in November 2004. The target audience of the magazine was almost exclusively