Did a single trading desk repeat history at Société Générale?
After two traders were dismissed for unauthorized, risky options trades, a former employee is blaming bank leadership. This incident unfolds at the same desk responsible for a historic $5.2 billion scandal.
The recent dismissal of two Hong Kong-based traders at Société Génallé's Delta One desk follows allegations of unauthorized options trading. While trader Kavish Kataria claims the bank's risk team and leadership share responsibility, the bank describes the event as a 'one-off trading incident' with no profit impact.
The significance lies in the desk's history: it is the same unit where Jérôme Kerviel's 2008 rogue trading caused $5.2 billion in losses, an event so severe it prompted the US Federal Reserve to cut interest rates to stabilize the markets.
