LONDON (Reuters) - The collapse of U.S. futures brokerage MF Global has brought to light inconsistencies in the way clearing houses operate, prom...
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When it comes to bonds, the client is conveniently never shown how to settle based on prices. Instead they are taught a nonsensical and more complicated method called yield settlement.
I'd just turned 20 when I began a three-year stint on Citigroup's corporate-derivatives team. I had no work experience to speak of. As my boss said after my interview, I was "f***ing unpolished."
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