Most major derivatives dealers now accept that collateralised trades should be discounted using the overnight indexed swap rate, while a bank’s own cost of funding should be used for non-collateralised...
Dealers saw a return of the deal-contingent market last year, amid a flurry of takeovers and mergers. But this business continues to pose some real risk management challenges for banks. By Peter Madigan...
The bankruptcy of Lehman Brothers in September 2008 led to a number of disputes over the valuation of trades with swap counterparties. Lehman Brothers Holdings Inc has proposed settling all outstanding...
Insurance Risk and BNY Mellon have conducted a survey to look at how insurance companies are preparing for the new regime and the opportunities and challenges that the changes will bring.
More Features/Derivatives articles
A major split has emerged between dealers over how to price derivatives backed by multi-currency CSAs. Some banks are looking to arbitrage disparities in valuations as a result, causing back-loading of trades to central counterparties to slow to a trickle....
Regional market participants repatriated funds from Europe and US-domiciled investments and demonstrated a new-found confidence to invest directly in emerging Asian markets in 2010. These investment flows have led to increased activity in non-traditional...
As the US continues to print money and tolerate a cavernous trade gap, regional policy-makers are buying the greenback and imposing capital controls to defend export-led economies from local currency appreciation. However, the apparent futility of this...
The US and China’s failure to reach a currency agreement at the November G-20 meeting in Seoul, combined with a rampant yen, has put most Japanese exporters at a significant competitive disadvantage. The strength of the yen is destroying corporate earnings...
Western dealers have set up onshore units in China as part of an effort to regain hedging business with Chinese corporates following large losses from derivatives contracts during 2008. How are these efforts working out? Kathy Wang reports
Many dealers were badly hurt by short single-stock variance positions at the end of 2008. Despite this, a number of banks have reopened dispersion desks this year to tap into renewed investor interest in the trade. Have they learned any lessons?
Marc Fontaine, head of commodity derivatives, Americas at BNP Paribas talks to Pauline McCallion about addressing energy end-user needs in light of the Dodd-Frank Act and recruiting new talent to the sector.
This paper discusses a number of diverse considerations that risk managers need to incorporate into their thought processes and recurring procedures if they are to fulfill their role more effectively in the future
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