2008 Société Générale trading loss taken massive fraudulent directional positions in 2007 and 2008 far beyond his limited authority" and that the trades involved European stock index futures. Though bank officials say Kerviel apparently worked alone, skeptics question how unauthorized trading of this magnitude could go unnoticed. Kerviel's unassuming background and position have heightened the skepticism that he worked alone. Some analysts suggest that unauthorized trading of this scale may have gone unnoticed initially due to the high volume in low-risk trades normally conducted by his department. The bank said that whenever the fake trades were questioned, Kerviel would describe it as a mistake then
Floor trader to file a completed online Form 8-R and have a fingerprint card. They must also have proof from a contract market that they have been granted the trading privileges to work on the trading field. A non-refundable Floor Trader Application Fee, that comes at the cost of $85.00, is also required to become certified as a floor trader. Every non-natural person floor trader (FTF) is required to file a completed online Form 7-R. To be granted trading privileges, he must abide by the same process as the floor trader. The application fee comes at a higher cost than an FT