Articles by Duncan Wood
Secretive start-ups eye uncleared OTC risk reduction
Dividing the over-the-counter market into cleared and uncleared products creates extra risk and inefficiency, critics claim – it also creates an opportunity for services that can repair the damage. Start-ups and established firms alike are now jockeying…
Regulators pine for the simple life
Prudential regulation is too complicated, the Basel Committee has conceded - but that does not mean it will embrace an all-powerful leverage ratio. By Duncan Wood
In-depth introduction: Innovation
The post-crisis years have shut down the over-the-counter derivatives market's incessant search for new underlyings, but a new phase of innovation has replaced it.
FCA quizzes hedge funds on interest rate exposure
Regulator wrote to large hedge funds in August, following volatility in UK interest rates market
The downgrade trigger trap
Trigger trap
Profile: Network Rail sings the praises of two-way CSAs
Getting there
RVA proving a struggle for derivatives counterparties
In this video discussion, Duncan Wood, editor of Risk, talks to Nick Sawyer, Risk’s editor-in-chief, about attempts to price in a replacement valuation adjustment on derivatives trades
Barclays leverage explosion baffles experts
Regulatory specialists unable to explain jump in leverage exposure at UK bank - the incoming ratio lacks clarity, say critics
What's the difference between issuers and borrowers?
Look beyond loans
Risk on extraterritoriality
The CFTC published its final cross-border rules on July 12. Nick Sawyer and Duncan Wood discuss some of the implications
Gottex Brokers: The allure of the illiquid
As competition in standardised products gets increasingly fierce, brokers can either slug it out, or diversify into illiquid markets. Gottex Brokers is doing both, its chief executive, Raphaël Moreno, tells Duncan Wood
Basel leverage ratio would double up collateralised OTC positions
Ratio could be a 'game-changer', dealers warn, as Basel Committee proposes counting received collateral as well as derivatives exposures
Backlash on the EU CVA exemption continues
The decision by European legislators to exempt EU banks from the CVA capital charge when trading with certain counterparties has infuriated regulators at home and abroad. Nick Sawyer discusses the issue with Duncan Wood
Dealers plan standard margin model for WGMR regime
Fight over margin requirements for uncleared trades is not over, banks vow, but Isda will develop a standard model for use under the rules
OTC volumes shrink as category two clearing begins in US
Clearing volumes dip as hundreds of new firms are caught by US clearing rules, but activity rebounded on June 11
Fails could jump as category two clearing starts in US, FCMs warn
Hundreds more firms will be required to start clearing in the US today, and FCMs are warning there could be an increase in rejected trades as a result
OTC Derivatives Clearing Summit: Some non-US dealers leaving buy-side trades unreported
Citadel and Fortress have found some foreign banks unwilling to accept Dodd-Frank reporting rules, conference hears
Risk’s OTC clearing survey
In this video, Nick Sawyer talks to Risk’s editor, Duncan Wood, about clearing mandates in the US and a new Risk survey on client clearing
The secret history of the OIS discounting bonanza
The Wild West
