Feature
Brexit: banks take the ‘no’ out of novations
Swaps clauses stop end-users blocking counterparty switch, making it easier to move trades to EU affiliates
Basel liquidity rules block Fed’s QE exit
LCR and NSFR could produce $1 trillion shortfall in plans for balance-sheet ‘normalisation’
Energy Risk Commodity Rankings 2018: A surge of energy
Top dealers continued technology push as hedgers fine-tuned risk management strategies in 2017
Vix curve gave warning of February volatility spike
Research by NYU’s Marco Avellaneda offers insight into short-vol strategy
From BAML to UBS: how 15 banks stack up on ‘last look’
Disclosures show striking differences on pre-hedging, hold times and trade acceptance
Shale, pipelines and hubs: turmoil ahead for US gas hedging
Regional market correlations in flux amid structural change
Quants needed: how finance can use power of quantum tech
New machines have big potential in AI, valuations and VAR, but tech giants like IBM need help from practitioners
Top 10 op risks 2018: model risk
Model risk re-enters top 10 amid avalanche of validation regulations
Top 10 op risks 2018: talent risk
Fears over dearth of talent across tech and risk management
Top 10 op risks 2018: organisational change
Banks fear pace of technological change will leave them exposed; others worry they could be superseded altogether
Top 10 op risks 2018: outsourcing
GDPR tipped to spark rise in disputes with third-party vendors
Top 10 op risks 2018: theft and fraud
Cyber theft fears widespread, but old-fashioned frauds dominate losses
Top 10 op risks 2018: unauthorised trading
Banks say threat from rogue algos outstrips that of human traders
Top 10 op risks 2018: regulatory risk
Fed’s cease-and-desist order against Wells Fargo spooks market
Top 10 op risks 2018: IT disruption
Fear of disabling cyber attack trumps risk of data theft
Top 10 op risks 2018: data compromise
Banks fearful of data breach missteps as GDPR looms
Top 10 op risks 2018: mis-selling
Speculation rife among survey participants over ‘the next PPI’
Softened EU swap stay still threatens margin hike
Moratorium cut to two days, but pre-resolution stay could make EU a non-netting jurisdiction
In the dark: pools warn late Mifid rules still won't add up
Venues say better trade-flagging, consolidated tape needed for equity double-volume caps
Pillar 2 moves to centre stage for op risk capital
US banks set for sharp falls in Pillar 1 requirements, but regulator-set add-ons cloud SMA’s impact
Volatility trap: how gamma roused a market monster
Rates market is exposed to some of the same factors that caused equity volatility to explode in February
One road: China’s new regulatory body begins to unify rulemaking
Micro-issues like netting and securitisation may also be in sights of powerful new committee
Euro swaptions market prepares for pricing revamp
Interdealer market to adopt collateralised cash price from July, but some fear impact on legacy books
Exchanges and FCMs clash over bitcoin clearing carve-out
Market participants say CME, CBOE should clear bitcoin futures separately