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Sovereign overhaul

The International Swaps and Derivatives Association (Isda) has released its first master confirmation agreement to standardise the trading of credit derivatives referenced to sovereign issuers.

Regulators' operational risk definitions criticised

The lack of a common agreement on the definition of operational risk by regulators will cause serious problems for global financial institutions, said Joanna Benjamin, a consultant to law firm Clifford Chance, at a late-November seminar at the firm's…

Shrinking cost of foreign exchange options

The cost of buying currency options has come down only "moderately" for clients in recent weeks and months, said options specialists interviewed by Risk’s sister publication FX Week . But in terms of the increased risk protection they currently provide…

New ABS and MBS standards

The European Securitisation Forum (ESF) has responded to calls from investors in asset-backed securities for better disclosure by releasing market practice guidelines for the securitisation market.

BarCap adds ANZ dealer

Edward Howard will join Barclays Capital in London in January, a spokeswoman for the bank told Risk's sister publication, FX Week .

EU moves to finalise CAD

With 130 responses to its latest draft of the capital adequacy directive (CAD) now in hand, the EU Commission is looking to make the directive into law.

Westpac expands foreign exchange sales

Dorene Mallon has joined Westpac in New York today as a senior vice-president in institutional foreign exchange sales. She reports to David Beale, global head of institutional sales at the Australian bank in London.

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