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Operational risk development harmed by US stance, say experts
REGULATORY UPDATE
Foreign exchange ruled by nerves in 2002
Forex markets
Getting the solvency balance right
Solvency II
The leading stories from RiskNews
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Cargill: cultivating growth
Agribusiness hedging
The Journey to the Golden Copy
You'll need a map to help create a golden copy of data - and to maintain it.
NYSE Pushing Firms to Store IMs
The use of instant messaging (IM) at trading firms has reached a watershed point, and the popular method of communication is about to fall under regulatory scrutiny on May 2, when the SEC rules 17a-3 and 17a-4 concerning the retention of broker records…
Taking it slow
Hong Kong's banks are, for the most part, targeting the standardised approach outlined in the new Basel capital Accord, but it is hoped that this will act as a catalyst for the further improvements in risk management.
Japanese banks: Turning up the heat
Japan's banks have faced a gruelling few months in the run-up to the fiscal year-end, with a plunge in equity prices putting severe pressure on capital ratios. But a further crisis may be just around the corner, writes Nick Sawyer.
High volatility in market leads to huge movements on DAX
The war in Iraq has seen liquidity cut to untradable levels with managed futures and CTAs under great pressure
Duke exits North America prop trading
Duke Energy has closed its proprietary trading business at its North American merchant energy businesses, Duke Energy North America (DENA) and Duke Energy Merchants (DEM). The move by the Charlotte, North Carolina-based energy company was not entirely…
Isda AGM: Buffett’s criticisms of the derivatives market rebuffed
A wide range of leading derivatives practitioners attending the International Swaps and Derivatives (Isda) annual general meeting spoke out against last month’s comments by US investor Warren Buffett, in which he compared derivatives to “weapons of mass…
Derivatives disclosure calls mount
Warren Buffett's stinging critique of the derivatives business in March represents the latest call for more derivatives disclosure. But despite some notable moves in this direction, most financial institutions remain stubbornly opaque.
The data deluge
Instant messaging and e-mail are critical tools for traders. But the need to oversee and archive the huge volumes of data they create has become a serious operational risk issue for broker-dealers. Clive Davidson examines the ways firms are dealing with…
Profile: JP Morgan treasury services moves beyond measurement
"We've got to an environment were there are enough scorecards and metrics in place," says Angus Grandfield, head of operational risk for the treasury services division of JP Morgan Chase's Europe, Middle East, and Africa region.
Buy side faces increased op risk scrutiny
NEW YORK - Buy-side firms' ability to effectively manage operational risk is attracting more scrutiny from sell-side colleagues, according to a panel held on March 26 at Risk Waters Group's OpRisk 2003 USA conference in New York.
Wall Street’s Battle With BCP Regulation, Round Two
Under increased scrutiny, the industry has banded together to prevent what it sees as costly and constrictive business continuity regulations.
The Mastery Of Disaster
New technologies, clear plans and practice can help any Wall Street firm better prepare itself for a disaster the size and scope of the events of Sept. 11, 2001.
Sweating the Small Stuff
Preparing for catastrophes is only part of it. More frequently (albeit less extensively), firms are testing their readiness for water main breaks, subway strikes and power outages.
UBS: QIS3 results in increased capital, is not "fair"
UBS, the Switzerland-based financial institution, says its overall capital will increase under the Basel Accord revisions, as currently outlined in the third quantitative impact study (QIS3). In addition, other institutions have had the same results, the…
The return of Russian crude
Russia has reclaimed its position as the world’s biggest oil producer for the first time in a decade – but uncertainty is still preventing some foreign oil firms from making the investments the country needs to fulfil its potential. Kevin Foster reports
Seeking a boost for crude
Venezuela’s internal conflict and the intended removal of Saddam Hussein from Iraq have meant both countries are seeking deals with international investors to boost oil production. But are the potential legal problems worth the trouble? By Maria Kielmas