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BlackRock threatened to halt trading at height of UK market tumult

Financial Times LogoFinancial Times2 mo ago

BlackRock threatened to halt trading at height of UK market tumult - Financial Times

Quick Summary:

A pensions expert said: “BlackRock would have been on the hook for a default in its LDI funds if it had not taken these steps and that is obviously a reputational hit that it wanted to avoid.

Some pension funds were forced to sell gilts to raise cash, exacerbating the market mayhem.

It is protecting their positions against contagion but it is not protecting their pension funds.” He added that other LDI managers put in place similar restrictions.


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Article Details

Author / Journalist: Chris Flood

Category: MarketsFinanceInvesting

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-09-29 @ 14:53:25 (2 months ago)

News Timezone: GMT -5:00

Ranking: #114 (out of 3414 stories this day)

News Source URL: ft.com

Language: English

Article Length: 461 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 621578

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About Financial Times

Financial Times Logo

Main Topics: MarketsFinanceInvesting

Official Website: ft.com

Update Frequency: 18 posts per day

Year Established: 1888

Headquarters: United States

News Last Updated: 8 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #3

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