Vikram’s trading and valuation experience spans various asset classes including corporate bonds, municipal bonds, structured products (CDO, CLOs, CMBS, RMBS, ABS) and equity, among others. Vikram has been or currently is engaged as an expert on matters related to the valuation and trading of these securities.
Vikram’s work includes analyses of algorithmic trading and trade routing by financial institutions where he has analyzed more than 50 TB of intraday transactions data from NYSE Trades and Quote (TAQ) database as well as the related code. Vikram has been retained as an expert to analyze trade algorithms and opine on the intended trade strategy.
Vikram also works with dealer banks in OTC derivatives antitrust litigations where he has analyzed large volumes of trade data related to credit, interest rate and foreign exchange related derivative products. The trade data spans more than ten years and includes trade-by-trade data and bid-ask spread data produced by DTCC, Markit and individual dealer defendants.
Vikram’s work also includes working with financial institutions, investment advisors and high net worth investors in the analyses of investment policy guidelines and determining whether the portfolio trading strategies adhered to those guidelines. Vikram has submitted expert reports and testified in these matters.
Vikram has been involved in the restructuring of hedge funds and has experience unwinding large OTC derivatives positions having worked on more than $1 trillion of notional value. He has worked closely with structured finance traders to help mark their books and to negotiate settlements with counterparties.
Vikram’s experience includes:
- Dealer Banks: Consulting expert in OTC derivatives antitrust litigation. Work included analyses of the OTC derivative markets, calculation of alleged damages and dealer market share, analyses of plaintiff damages and methodology, developing class certification arguments, settlement analyses, opt-out analyses, etc.
- Multinational Bank: Consulting expert in an internal investigation related to the valuation and analyses of a multi-billion-dollar municipal bond and related CDS portfolio.
- Authored reports in various SEC investigations regarding pricing and trading of financial products, including RMBS and municipal bonds.
- Trustee: Consulting expert for sampling of mortgage loan files.
- Broker/Dealer: Consulting expert in investigation of algorithmic trading and trade routing.
- Trustee: Consulting matter related to RMBS put back claims by trustee.
- Trustee: Consulting matter to analyze a European CDO for review and interpretation of deal documents, asset selection, deal performance, and benchmarking to comparable assets.
- Broker/Dealer: Consulting matter to review trades conducted for a foundation and review of investment guidelines to check whether trades adhered to stated guidelines (including calculation of related markups/markdowns).
- Bank: Consulting matter regarding leveraged super senior CDO positions in SEC investigation.
- Bank: Consulting expert for bank in matter regarding the valuation of contingent liabilities, including loan put-back contingent liabilities and determination of solvency.
- Bank: Valuation of distressed leverage loans and a distressed residential loan portfolio
- White Collar: Consulting expert for former CDO, CDS, and RMBS sales people and traders, structurers, and company executives at Citigroup, Goldman Sachs, AIG Financial Products, Deutsche Bank, Bear Stearns Asset Management, Lehman Brothers, and Jefferies in regulatory investigations and litigation.
- Bank: Consulting expert in regulatory investigation involving the unwind of a large index arbitrage trade in South Korea.
- Monoline: Consulting expert in matter involving the portfolio selection, rating, and valuation of a CLO.
- Bank: Consulting expert in matter involving the portfolio management, valuation, and structure of a $3 billion synthetic CDO.
- Investment Bank: Valuation of derivatives portfolio for unwind of large investment bank.
- Investment Bank: Valuation of more than $50 billion in municipal, corporate, and structured finance assets in large investment bank failure.
- Financial Services: Review of investments in trust portfolio to determine whether investments were in accordance with investment policy statement.
- Financial Services: Valuation and analyses in restructuring of synthetic CDO squared. Valuation and risk assessment pre and post restructuring to determine fairness to investors.
- Hedge Fund: Valuation and analyses of complex commodity derivative and currency trading strategy to determine profit/loss potential and suitability of hedging strategy.