Crackdown on risk budgets: Trader sign-off on revaluing data must end, says industry body

No official advice currently addresses the problem, which can mean banks’ trading groups have ultimate veto on purchasing independent data or risk systems proposed by risk managers to mark traders’ options books to market.

"Risk management - for the oversight function at least - should be funded independently," David Koenig, chair of the board of directors at Prmia, told FX Week. "Budgets should be set at executive level, not at business-line level."

Koenig said that some institutions had brought

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Chartis RiskTech100® 2024

The latest iteration of the Chartis RiskTech100®, a comprehensive independent study of the world’s major players in risk and compliance technology, is acknowledged as the go-to for clear, accurate analysis of the risk technology marketplace. With its…

T+1: complacency before the storm?

This paper, created by WatersTechnology in association with Gresham Technologies, outlines what the move to T+1 (next-day settlement) of broker/dealer-executed trades in the US and Canadian markets means for buy-side and sell-side firms

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