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Fantex and Libor

Fantex Brokerage Service, here. If I could hedge my fantasy team’s players actual performance relative to the distribution of players in my league then I’m in. I suppose I’m looking for a 9-cat Yahoo fantasy Bball league swap on the actual versus expected performance of Andre Drummond over the first 20 games of the NBA season. Don’t care about the salary, it’s of no economic significance to my fantasy bball payouts. Just want the statistical performance as the underlying so I can take more risk in drafting. I can take Kobe, Granger, Rose, Love,  and Bogut if I can hedge away the underperformance/injury risk.  Without hedging I cannot offload the injury risk and so can only draft one of the injury risk players.

Buying & Selling.

Fantex works on a “bid” (buy) and “ask” (sell) system. Before you buy, we encourage you to read the prospectus and understand the risks. Hit the “Buy/Sell” link then check out the Buyer/Seller list. If you see something you like, enter your bid price and see if a seller accepts it.

Selling works the same as buying, but in reverse. Instead of a bid, you’ll enter an “ask” price (together with a share amount) – if a buyer accepts, your shares are sold.

However, because you can only trade Fantex, Inc. tracking stocks on this platform, there is no assurance as to the development or liquidity of any trading market.

Fees.

The standard transaction fee is 1% on the total amount of your trade.

Felix Salmon, Reuters, Bad Investment of the day, Fantex edition, here.

Now that the ban on general solicitation is over, all manner of weird companies are emerging from the nether regions of the internet, trying to persuade people to part with their money in return for a nominal stake in some unlikely investment. One of the glossiest of these new companies is Fantex, which just filed a prospectus for its first athlete-IPO.

Michelle Jones, ValueWalk, U.K. Prosecutors To Name Alleged Libor Scandal Co-Conspirators, here. These are like all the Citi JPY Rates traders I ever knew.

The WSJ also reports that ex Citigroup Inc (NYSE:C) and UBS AG (NYSE:UBS) trader Tom Hayes is expected to enter a plea of not guilty. He faces eight counts of charge in connection with allegedly fixing Libor. Two brokers, James Gilmour and Terry Farr, who formerly worked at R.P. Martin Holdings Ltd. who face similar charges are also expected to enter their pleas. However, it is not known how they plan to plea.

When the Serious Fraud Office names the alleged co-conspirators, it will not be a formal accusation. The people on the list may not ever be charged in the case. Prosecutors are said to be finalizing their plans for the hearing, and sources indicated that the list of names might change between now and then. Lawyers representing some people in the financial industry have apparently contacted the Serious Fraud Office to ask prosecutors not to release their names publicly. However, lawyers don’t believe the requests were heeded.

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