Morgan Stanley Wealth Management’s technology systems crumpled today, preventing brokers and clients from viewing account information and placing orders. “[O]rder entry and order status continues to experience issues and may be unavailable,” the company said in a message sent to wealth management “field and operations” employees at 12:49 pm Eastern Standard Time. In a subsequent […]
As the Wall Street Journal noted this morning (‘The Oil Crash is Hitting this Investment Hard’), “the plunge in crude-oil prices is sending shock waves through closed-end funds tracking the energy sector, highlighting how the market turmoil is hitting products popular with ordinary investors seeking to boost returns during the long bull market. Shares of […]
ED&F Man Capital Markets Inc. has been hit with growing demands to post more capital to cover souring hedges in its mortgage division, according to Bloomberg, citing people with knowledge of the matter. Requests are coming from central clearinghouses and exchanges, forcing the firm to put up almost $100 million on Friday alone. ED&F has […]
As volatile market conditions continue and seem to be accelerating on a daily basis, questions are being increasingly raised regarding the risks posed to investors and the relationship of margin to those risks. Investors who sign a margin agreement can borrow up to 50% of the purchase price of marginable investments (the exact amount varies […]
Moody’s is carrying out a global review of its corporate ratings in light of the coronavirus and oil price slump, with a first wave of downgrades or warnings likely in the coming days. The firm has already begun the process in a number of the hardest hit sectors such as airlines, cruise and oil firms, […]