Articles by Michael Paterakis
Ucits funds ramped up macro trades in latest data
Counterparty Radar: FX forwards and rate swaps set records last year, with inflation and index CDS books also booming
On buy side, equity index options tilted bullish in Q1
Counterparty Radar: Share of notional in short positions hit new low for US life insurers; mutual funds also reported smaller short books
Goldman gobbles up credit options
Counterparty Radar: Q1 surge comes as US mutual funds and life insurers pile into index CDSs
US buy side flocked to FX forwards and options in Q1
Counterparty Radar: Pimco led $187 billion rise in forwards notional among funds, while TIAA drove insurer activity
US funds become fixed-rate payers in swap market
Counterparty Radar: Since 2021, receiver swaps have dominated US mutual fund positions; in the latest data, the sector’s book flips round
Mutual funds are trading inflation like it’s 2022 again
Counterparty Radar: USD CPI notionals hit record levels even before March’s jump in energy prices
Squashing CVA still dominates XVA desks’ priorities
Dealers favour options-based strategies to manage charges; some explore contingent CDSs amid rising exposures
XVA desks target capital in optimisation runs
US regulatory uncertainty leaves banks cautious on investing in new optimisation tools, Risk Benchmarking study finds
Fewer than half of banks rate their GRC vendor as ‘good’
Enterprise Risk Benchmarking study shows banks juggling multiple systems, adding costs and complexity
Regulators zero in on third-party risk, resilience
In latest survey, 35% of banks say watchdogs have “significantly increased” focus on third-party risk, with reports of arduous inspections and growing resource strain
Opportunity knocks as big US dealers step back
Dealer Rankings 2025: Third annual exercise shows top US dealers are less dominant, allowing Barclays and others to strengthen
Goldman Sachs tops third edition of Dealer Rankings
Dealer Rankings 2025: Citi slides, Europeans climb in annual analysis of US fund and insurer trades
Europe’s Ucits funds: Made in the USA
Counterparty Radar: EU retail funds market is a prime example of Trump’s miscalculation on trade