Schneider Trading Associates - in trouble?

[flux]

Hi,

one of the MD's of STA has resigned on Friday and obviously STA got a fair bit of exposure to MF Global as well as the trading risk they are exposed to from their prop traders.

Anyone heard anything about this?

S

 

[arabianights]

Interesting...

Very interesting...

 

[flux]

Just to be absolutely clear about this: I have heard exactly what I've said earlier, so I don't mean to start unhelpful rumours or pretend I know more about it than I do. For all I know, he resigned because he really did want to spend more time with his family (or more time with a job that paid a lot more).

Given that I'm less plugged in than many others around here, I thought if something really concerning happened someone might have heard about it. Why they would tell anyone about it is a different matter - just covering all bases, I guess.

S

 

[arabianights]

"Sources" say that it's a chap called Martin Broad and nothing to worry about...

 

[flux]

"Sources" say that it's a chap called Martin Broad and nothing to worry about...

Ok thanks - it's just that these days it's probably advisable to keep an eye out for stuff like that.

 

[arabianights]

It's a second hand source though so could be wrong. Feel free to panic some more!

I don't think they were writing any Lehman CDS's