Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

Principal vs. agency trading refers to two different ways financial institutions execute trades on behalf of clients or themselves. In principal trading, the firm buys or sells securities for its own ...

Global regulators, including the European Securities and Markets Authority (ESMA) and the UK’s Financial Conduct Authority (FCA), are working on providing clear definitions to clarify what constitutes ...

Focus is on the relationship between upper-level management and stockholders -- categories which overlap when the owner is the manager. Although J&M clearly believe that agency problems within the ...