Trading systems

No silver bullet

The emergence of contingent credit default swaps has presented banks with a new way to manage their counterparty credit exposures. However, they have important limitations, argues David Rowe

Lagging risk management

The rate of growth in the complexity of new derivatives products is causing a worrisome lag in risk management's ability to keep pace. As credit derivatives markets endure a period of stress, this lag could have serious consequences, argues David Rowe

Barclays goes online with iShare trading

Barclays Capital is now offering online trading of iShares via its award winning Barx investor solutions platform. Once enabled, clients will be able to instantly click and trade ishares. The benefits of trading on the platform include tighter spreads…

Matchmakers

Post-trade confirmation in the energy market, once slow and prone to error, is becoming increasingly efficient due to the successful rollout of trade confirmation standards. David Watkins looks at how two of the competing standards have developed

Is it really alpha?

Hedge funds often characterise their mission as the pursuit of pure alpha. A growing body of research, however, argues that a significant proportion of observed hedge fund returns are really alternative beta. David Rowe considers the implications for the…

The responsive alternative...

Barclays Capital's Michael Brian explains hedge funds' nimbleness does put pressure on prime brokers to respond in kind but, as is the case with all rapidly changing industries, the cream does still rise to the top

The net widens

Grid computing is ubiquitous in investment banking, yet until now the energy trading and risk management space has been slow on the uptake. This looks set to change, reports David Watkins

A cracked barrel?

Debate over the suitability of West Texas Intermediate as a benchmark crude resurfaces regularly, but recent price activity in the US oil contract – which influences the entire energy complex – is causing consternation. David Watkins reports

A dangerous idea

Encouraging and supporting sound internal risk management has become an important aspect of effective financial regulation. Imposing a regulatory capital charge for stress-test losses would undermine this important objective, argues David Rowe

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