![]() A client might want to benefit, say, from the difference between the local and the foreign price of a stock. The purpose of an equities desk at an investment bank is to help approved clients buy and sell stock, and there could be legitimate reasons for making a simultaneous trade. Mirror trades are not inherently illegal. On the Moscow markets, this sleight of hand had a nickname: konvert, which means “envelope” and echoes the English verb “convert.” In the English-language media, the scheme has become known as “mirror trading.” Because the Russian company and the offshore company both belonged to the same owner, these ordinary-seeming trades had an alchemical purpose: to turn rubles that were stuck in Russia into dollars stashed outside Russia. These transactions had nothing to do with pursuing profit. To inspect the trades individually, however, was like standing too close to an Impressionist painting-you saw the brushstrokes and missed the lilies. Deutsche Bank earned a small commission for executing the buy and sell orders, but in financial terms the clients finished roughly where they began. Deutsche Bank was helping the client to buy and sell to himself.Īt first glance, the trades appeared banal, even pointless. Both the Russian company and the offshore company had the same owner. In the second trade, Volkov-acting on behalf of a different company, which typically was registered in an offshore territory, such as the British Virgin Islands-would sell the same Russian stock, in the same quantity, in London, in exchange for dollars, pounds, or euros. Usually, the order was for about ten million dollars’ worth of the stock. In one, he would use Russian rubles to buy a blue-chip Russian stock, such as Lukoil, for a Russian company that he represented. Volkov would speak to a sales trader-often, a young woman named Dina Maksutova-and ask her to place two trades simultaneously. Illustration by Anna PariniĪlmost every weekday between the fall of 2011 and early 2015, a Russian broker named Igor Volkov called the equities desk of Deutsche Bank’s Moscow headquarters. so this is the next thing to bolt on.The bank, beset by scandals and mismanagement, is in a precarious state. Is there a hardened version?Ĭouldn't resist some aluminum. I straightened them best I could, I need to replace them next time i'm out to the Hobby Shop. ![]() ![]() no biggie.ģrd note to self: both caster pins were bent. I have to replace the plastic threaded screws for Machine screws. only difference was the shock tower screws. it was $8 cheaper than the same bulkhead for the Electric rustler. I think the current Stampede VXL kit uses allen head boltsĪlso swapped in a Nitro Rustler bulkhead. I'll probably swap them out with allen head bolts/nuts.Ģnd note to self: order allen head bolts/nuts. it's either too small or too big or too pointy. I had to try several different Phillips head screw drivers. Note to self: order a dozen e-clips (I did have 2 extra). I do have the modern slipper clutch, metal tranny gears and bearings in the tranny. ![]() I also disassembled the tranny, cleaned it out and re-greased it. ![]() Broke an e-clip putting the hinge pin back in when I did the fronts, man those things are small and hard to manage with my cave-man size fingers. Aslo changed out the rear bearings & carriers for RPM's. I got the front RPM carrier/bearings & RPM Casters block swapped in. ![]()
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