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November 8, 2016 Comments Off on Bankers & Brokers Prep for Nov. 9 Views: 251 National News, New York, Northeast, Top New York Stories

Bankers & Brokers Prep for Nov. 9

Global banks are preparing for market volatility following today’s U.S. presidental, congressional and gubernatorial elections. Morgan Stanley, JPMorgan Chase & Co. and Goldman Sachs Group Inc. are just a few institutions that are preparing for the day after.

Morgan Stanley suggested that staff consider using stop-loss orders on stocks. Stop-loss orders automatically sell positions as soon as the stock price hits a pre-set level. Additionally, the company’s wealth management unit was told to prepare for election-related conversations with clients.

Overseas banks HSBC and Nomura Holdings Ltd. are going so far as to add extra staff. Others are increasing margin requirements for trading, in anticipation of dealing with potential turmoil in the markets.

Read More at Reuters

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