Incorrect Date Costs Broker Nearly $23M in Liabilities

Incorrect Date Costs Broker Nearly $23M in Liabilities

?Someone sophisticated enough to manage a $100 million VIX Futures portfolio also has the resources to verify something as simple as the expiration date of a product, particularly if that expiration poses significant risk to their portfolio,? said Mark Longo, a former trader at the Chicago Board Options Exchange and CEO of industry news outlet The Options Insider.

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