Plummeting volumes in Japan's commodity futures markets have forced many Japanese commodity brokerages out of business. Katie Holliday reports
Risk mitigation systems for over-the-counter derivatives set to go live in 2010
The unwinding of yen carry trades and the de-correlation of the yen with equity markets, as well as wider economic factors, have all been linked to the yen's decline over the past month.
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As Japan's version of Sarbanes-Oxley heads towards implementation, other Asia-Pacific countries are also introducing their own versions of the US legislation. But, learning from US Sox mistakes, they are tailoring their reforms to their political and...
Daily news headlines
The Financial Services Agency (FSA) in Japan has amended guidelines for the implementation of Pillar II of the Basel Accord. The guidelines for its early warning system framework were revised to clarify and further emphasise the Agency’s approach to...
The recovery in Japan’s banking sector means that country’s banks are closer to meeting the minimum capital adequacy requirements of Basel II than was anticipated even 12 months ago. However, challenges remain, particularly with regards to data. By...
BNP Paribas is set to reorganise its fixed-income business by splitting its marketing and trading activities. The new set-up replaces a structure where the division was split into three areas: foreign exchange, interest rates and credit.
Hong Kong Exchanges and Clearing has scheduled a number of new initiatives for 2005 to combat flagging investor interest in derivatives. It also plans to expand and promote its distribution of market data to a wider user base in the Far East.
With the implementation of Basel II firmly on the agenda for Japan's banks, Shunsuke Shirakawa of the Financial Services Agency talks about how the Japanese regulator will approach the challenges posed by the new Accord.
French bank BNP Paribas has created a sub-index to its CJ50 index of the 50 most liquid Japanese credit default swaps (CDS). Called CJ Flex, the sub-index is referenced on about 30 investment-grade credits, worth a total notional amount of more than ¥10...
The issuance of arbitrage synthetic and cash collateralised debt obligations (CDOs) in Japan is set to remain at a standstill due to tight credit spreads, according to a report published by Moody’s Investors Service.
Resecuritisation deals - collateralised loan obligations (CLOs) backed by structured finance securities - are likely to grow in Japan, according to a report issued this week by Moody’s Investors Service.
US investment houses JP Morgan Chase and Morgan Stanley are merging their Japanese credit derivatives indexes Janice and MSJ-CDS, respectively, into Trac-x Japan, a new tradable index that tracks the 50 most liquid Japanese credit default swaps (CDS).
Following the publication of the third and final consultation paper, Japan's banks are focusing more seriously on Basel II. With the new requirements set to take effect from 2006, most banks face a critical year ahead.
The cost of credit protection on Japanese electronics companies ended the week off their highs, as market participants finished re-adjusting portfolios and protection sellers re-emerged in the market.
Japan's four largest banks have posted a combined ¥3.61 trillion ($30.9 billion) in losses for the 2002 financial year, following larger-than-expected losses in their cross-equity holdings amid slump in the country’s equity markets and their ongoing...