Articles by Lukas Becker
Banks ‘hurting, but not dead’ after Brexit shock
Last-gasp hedges may have eased the pain of Brexit for some banks
Brexit hedging leaves Ficc books unbalanced
Market-making desks struggling to recycle some client flows ahead of referendum
Dealers renew push for standardised CSAs
Banks hope LCH platform will help cut costs and complexity as non-cleared margin regime looms
Strength turns to weakness for old OTC market
Non-cleared notional falls $36 trillion as costs and complexity grow
Banks fear huge losses on bond repacks in Japan
Dealers and investors face multi-million-dollar hits if rates continue to slide
Canabarro to join Barclays as model validation head
UK bank hires former Morgan Stanley risk analytics head
LCH-JSCC basis rockets for cleared yen swaps
Cost of receive-fixed swaps at JSCC jumps fivefold in a week
Mifid II transparency rules pose swaps pricing challenge
Isda AGM: dealers fear pre-trade transparency could lead to front-running of hedges
MUFG head criticises internal modelling restrictions
Isda AGM: Mitsubishi UFJ Group CEO also sounds warning on sovereign risk weights and CVA
Standardisation ‘a must’ for uncleared swaps
Isda AGM: Standard products and contracts key to product's future, say trading execs
Japanese regulator defends risk-based capital rules
Shirakawa warns binding leverage ratio could harm banks' risk management practices
ABN Amro cuts rates swaps from €24bn covered bond programme
High cost of downgrade triggers forces Dutch bank to use alternative hedge
Traders shocked by $712m CVA loss at StanChart
Bank’s new methodology has been used by some rivals for more than a decade
Libor reform: the sound of silence
Moves to push swaps off Libor have generated surprisingly little noise
DVA shift a net positive for structured notes
Most structured note businesses likely to welcome accounting change
Dodgy discounts: DVA claims fly in cross-currency market
Derided pricing adjustment is being used to undercut competition, traders claim
MVA will be a ‘game-changer’, say valuation experts
Leap in initial margin will cut CVA, FVA and KVA, but generate new funding effects
Richard Jackson joins Alphadyne
Deutsche's former European flow rates head joins asset manager
LDI funds cool on zero-coupon swaps as price jumps
Clients complain of six-fold hike after rates volatility hits dealers' par swap hedges
HFT's Treasury market penetration a clear concern
Dominance of opaque shops poses concentration risks
Hidden price pressures grow in euro swap market
Clients face wider bid/offer spreads, as dealers struggle to find liquid hedges
Courting the AIIB: dealers eye development bank “goodies”
Beijing-based supranational expected to be heavy swaps user
Regulators cool on plans to change leverage exposure sums
SA-CCR is mooted successor to 27-year-old CEM, but sensitivity may count against it
BoE warns banks on derivatives booking practices
Dealers must simplify if there is "no coherent rationale" to structures