Feature
Capital or P&L? Deutsche Bank losses highlight CVA trade-off
Critics of Basel III’s credit valuation adjustment (CVA) capital charge have long warned it would produce perverse incentives. Now, in the form of a string of quarterly losses in Deutsche Bank’s CVA hedging programme, they believe they are being proved…
5,000 trades: Basel III's magic number squeezes swaps books
There is a magic number in bank capital rules – 5,000 trades – below which portfolios qualify for a lower margin period of risk. Some dealers are now trying to cut their books down to size. Others claim that’s impossible. Joe Rennison reports
Structured Products Asia: Photo gallery
Celebrating Asia's finest
Hedge funds face automation challenge
Automation challenge
Timing tension – Europe clearing deadline set to slip
Mandatory clearing in Europe is widely expected to start from next year, but the complex authorisation process, combined with the variety of collateral segregation models, means the start date for some clients could be much later. Tom Osborn reports
CCP frontloading: the pricing nightmare
The pricing nightmare
Applied risk management series: Integrating stress tests with risk management
Stress testing is a vital part of successful risk management, but risk managers at energy trading firms frequently face obstacles in designing and implementing successful stress testing programmes. In this article, Carlos Blanco provides some advice on…
Ice Brent changes prove a hard pill to swallow
Ice says a plan to shift the expiry dates of futures and options on Brent crude oil is an important fix that will tighten the link between the physical and futures markets. However, carrying out the necessary changes could be painful for market…
Liquidity forces energy firms to get creative with risk management
In some corners of the over-the-counter energy market, liquidity has become increasingly thin during the past few years. As a result, firms need to think more creatively about how they handle liquidity, say risk managers. Stella Farrington reports
BAML hires former Barclays oil head
ABN Amro undergoes shake-up; Marex Spectron sets up iron ore desks; Skylar adds power and gas trader; Barclays hires in commodities; CFTC appoints acting enforcement chief
Whistleblowing: the case for financial incentives
UK authorities are edging closer to offering bounties to encourage whistleblowers
Derivatives House of the Year, Asia ex-Japan – Standard Chartered
Asia Risk awards 2013 winner: Standard Chartered – Derivatives House of the Year, Asia ex-Japan
Derivatives House of the Year, Japan – Goldman Sachs
Asia Risk awards 2013 winner: Goldman Sachs – Derivatives House of the Year, Japan
Structured Products House of the Year – Société Générale
Asia Risk awards 2013 winner: Société Générale – Structured Products House of the Year
Credit Derivatives House of the Year – BNP Paribas
Asia Risk awards 2013 winner: BNP Paribas – Credit Derivatives House of the Year
Currency Derivatives House of the Year – Standard Chartered
Asia Risk awards 2013 winner: Standard Chartered – Currency Derivatives House of the Year
Equity Derivatives House of the Year – Credit Suisse
Asia Risk awards 2013 winner: Credit Suisse – Equity Derivatives House of the Year
Interest Rate Derivatives House of the Year – BNP Paribas
Asia Risk awards 2013 winner: BNP Paribas – Interest Rate Derivatives House of the Year
Energy/Commodity Derivatives House of the Year – Standard Chartered
Asia Risk awards 2013 winner: Standard Chartered – Energy/Commodity Derivatives House of the Year
Regional Derivatives House of the Year – OCBC
Asia Risk awards 2013 winner: OCBC – Regional Derivatives House of the Year
Clearing Bank of the Year – Citi
Asia Risk awards 2013 winner: Citi – Clearing Bank of the Year
Collateral Manager of the Year – BNY Mellon
Asia Risk awards 2013 winner: BNY Mellon – Collateral Manager of the Year
RMB House of the Year – HSBC
Asia Risk awards 2013 winner: HSBC – RMB House of the Year