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Worth the cost? EU rethinks Mifid disclosure rules
Banks would gladly be rid of cost disclosures, but some clients want them improved, not scrapped
LCH targets hardwired pre-cessation triggers
Proposal aims to align transfer pricing for cleared and bilateral markets in the event of split on ‘zombie Libor’ triggers
Ripping up the old asset class labels
Outmoded classifications of securities may be concealing market risk. AI has a better idea
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Risk Quantum
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Risk Quantum finds insights in data. The service tracks the public disclosures of over 120 banks, funds, insurers, corporates, and central counterparties – as well as reports from prudential and markets regulators – in Asia, Europe and North America.
Editors' choice
Trading venues decry disruptors as MTF battle heats up
Unregulated tech vendors accused of operating as de facto venues; a claim dismissed as “entirely outrageous”
Big Figure
Sonia’s greatest hit
Swaps trades referencing the Sterling Overnight Index Average (Sonia) soared to at least four year highs in early January, according to data from the Depository Trust & Clearing Corporation’s (DTCC) trade repository. The £174 billion ($226 billion) and £154 billion in notional traded on January 9 and January 10, respectively, made the days both the largest single and largest consecutive trading days for Sonia-referencing swaps since at least the start of 2016, and possibly all-time for trades reported to the DTCC.
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7 days in 60 seconds
Disruption, CCP default and the latest Libor problem
The week on Risk.net, January 18–24, 2020
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Our Take
EU compounding confusion creates headaches for banks
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When a lapse in concentration is no bad thing
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