- Rogue Trader
- A trader who acts independently of others - and, typically, recklessly - usually to the detriment of both the clients and the institution that employs him or her. Rogue traders typically trade in high risk investments which can create huge losses but also large gains.
One of the most famous rogue traders is Nick Leeson, who was a derivatives trader at the Singapore office of Britain's Barings Bank. Leeson incurred heavy losses through the unauthorized trading of large amounts of Nikkei futures and options. Leeson took large derivative positions on the Nikkei which leveraged the amount of money at stake in the trades.
At one point Leeson had 20,000 futures contracts worth over $3 billion on the Nikkei. A large chunk of the losses came from the downturn in the Nikkei after a major earthquake in Japan caused a broad-based sell-off in the Nikkei within a week. Total loss to the 233-year-old Barings Bank was well over $1 billion and led to its eventual bankruptcy. Leeson was charged with fraud and served several years in a Singapore prison.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
rogue trader — rogue traders N COUNT (disapproval) A rogue trader is an employee of a financial institution who carries out business without the knowledge or approval of his or her bosses. [BUSINESS] ...the unauthorised dealings by rogue trader Nick Leeson… … English dictionary
rogue trader — UK US noun [C] FINANCE ► someone at a financial organization who loses a large amount of its money in bad or illegal transactions , and who tries to hide this: »The banking industry cannot afford many more rogue traders tarnishing its reputation … Financial and business terms
Rogue Trader — bezeichnet den Originaltitel des Films Das schnelle Geld – Die Nick Leeson Story den Originaltitel des Tabletop Spiels Warhammer 40,000 den Originaltitel eines Pen Paper Rollenspiels Freihändler: Warhammer 40,000 Rollenspiel#Freihändler … Deutsch Wikipedia
Rogue trader — A rogue trader is an authorised employee making unauthorised trades on behalf of their employer. It is most often applicable to financial trading, and as such is a term used to describe persons professional traders making unapproved financial… … Wikipedia
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rogue trader — … Useful english dictionary
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