Feature
Unfinished business: US Treasuries reform stalls
Efforts to improve clearing and settlement of US government debt – and oversight of who trades it – still incomplete
China’s caution on compression stretches global banks’ risk limits
Systems lags and lack of capital pressure blamed for apathy on swaps compression
Day one of a no-deal Brexit: swaps and chaperones
Banks, trading platforms, repositories tee up EU entities – and dread the repapering crunch that would follow
EU clients face axe from UK CCPs
But Esma’s Maijoor offers lifeline, calling for continued access for EU members
Dealers sour on Mifid’s systematic internaliser label
SI decisions will take account of tougher pre-trade rules, client demand and Brexit
Moving the goalposts: EU fights over prop trader rules
French proposals could drive larger non-banks out of fixed income futures and options
Hackathon finds pre-trade gold in Isda’s post-trade project
Dealers’ derivatives trade processing costs could be cut by at least $3 billion per year
Do or die – asset managers take up data science
Firms are scanning an ocean of text and images, as well as big number sets, to grab an edge
Risk evolves in springtime of energy spin-offs
New risk management challenges as firms split legacy fossil-fuel operations from renewable-focused areas
Climate risk rising up agenda for lenders
Reliable measures still some way off, banks admit
Do two sizes fit all? Banks aim to standardise vendor risk
Banks created TruSight and KY3P to vet supplier risk with standard questionnaires. Is it enough?
Rival strategies split multi-factor fund investing
Goldman, Robeco challenge conventional ‘bottom-up’ portfolio design
Trade finance under new stress as commodity markets realign
Higher tariffs, sanctions and Brexit are leading to a reassessment of trade finance arrangements
Cyber security begins a shift to the risk department
Normally the province of IT, cyber defence is increasingly seen as a critical part of operational risk
Brexit uncertainty for UK and Irish power markets
Traders remain in the dark about the future of the UK’s participation in the Internal Energy Market
Lehman’s ghost: how three CCPs anchor models to crash
The Lehman crash still haunts the margin models of LCH, CME and Eurex, albeit in different ways
Buy side could be biggest voice in key margin decisions
Asset managers encouraged to join Simm’s daily polling mechanism – despite some dealers’ concerns
Libor reform threatens risk modelling under FRTB
Dearth of liquid products and historic data threatens banks with capital hit under new market risk rules
Global banks eye China’s structured products surge
Following a government crackdown on local products, foreign banks look to open joint ventures onshore
Direct streaming gains foothold in US Treasuries market
Cost savings drive dealers away from Clob model into alternative venues
Stress tests expose climate risks in loan books
Efforts to quantify the risk of global warming are changing the way banks manage credit portfolios
To be resolved: the FDIC and the future of bank failure
Will Jelena McWilliams finally nail down the FDIC’s role as a resolution authority?
From AI to cheese: funds seek fixes for trend following
Firms turn to machine learning, hybrid products and new markets to boost returns
‘Trump digs coal’ – but is that enough?
Are Trump's efforts to support US coal levelling the playing field for fuel sources, or flogging a dead horse?