Dec 3 Morgan Stanley trader Edward Glenn
Hadden is under investigation by regulators at CME Group
over trades in Treasury futures four years ago while he
was employed by Goldman Sachs, according to a regulatory
Hadden is a managing director and head of global interest
rates products at Morgan Stanley. Prior to joining Morgan
Stanley, Hadden was a partner at Goldman Sachs, and head of
government bond trading.
Regulators at CME Group, which runs commodity and futures
exchanges, initiated a probe against Hadden over Treasury
futures orders placed on the expiration date in Dec. 2008,
according to a "broker check" report published by the Financial
Industry Regulatory Authority (FINRA).
The New York Times first broke news of the investigation.
Citing people briefed on the matter, the newspaper said the
probe aimed to establish whether Hadden's late trades had
manipulated closing prices and, in turn, made other of his
trades more profitable. ()
A Morgan Stanley spokesman confirmed to Reuters that Hadden
is still employed with the bank but did not provide further