Christmas Cheer with Alumni

The large fine imposed on RBS last week suggests that a ‘scandal’ took place in the banking world over the setting of LIBOR. Yes – there was probably systematic mis-pricing of LIBOR which enabled some traders and some banks to profit at the expense of others. But the LIBOR issue simply highlights a much wider problem in financial markets which is that many ‘prices’ quoted in markets are not market prices at all. Instead they are prices based on computer models, matrix pricing or sheer guesswork, which may or may not produce ‘accurate’ prices. The reason for using computers models and guesswork is that in many financial products there actually are no transactions at all or very few even over periods of some weeks or months and thus no market prices.

The ICMA Centre, University of Reading, in collaboration with 7city Learning, launches an innovative MSc in Investment Management integrating academic study delivered by leading faculty with preparation for the Chartered Financial Analyst® Level 1 Study Program.

The ICMA Centre at Henley Business school is pleased to announce that it will be host to the 2013 European Financial Management Association (EFMA) annual meeting from 26 – 29 June 2013.