Template:Unallocatedtrades: Difference between revisions

Template:Unallocatedtrades (view source)

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 Oh ''really''?
-This convenient view — I mean, you would say that, wouldn’t you? — prompts more questions that it answers: if the [[agent]] isn’t responsible for unallocated trades, then ''who'' is? Until they’re allocated, then who, ''in the mean time'', is? The [[broker]] doesn’t know who the [[principal]] is, so it can hardly take up matters with it directly. On the other hand, [[asset manager]]s will hotly deny any kind of personal liability, appealing to their regulatory status, meagre capitalisation, or sheer importance as a valued client in intimating that this risk ought to be the [[broker]]'s problem.
+This convenient view — I mean, you ''would'' say that, wouldn’t you? — prompts more questions that it answers: if the [[agent]] isn’t responsible for unallocated trades, then, until they’re allocated,''who'' is?  The [[broker]] doesn’t know who the [[principal]] is, so it can hardly take up matters with it directly. On the other hand, [[asset manager]]s will hotly deny any kind of personal liability, appealing to their regulatory status, meagre capitalisation, or sheer importance as a valued client in intimating that this risk ought to be the [[broker]]'s problem.
 So much bunk — all of these reasons. The [[manager]] is the agent chose not to disclose its [[principal]]. By doing so it accepted unconditional responsibility for settling its client’s transaction.