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Dealer-run platforms face hard choices under Mifid II
MTF, OTF or SI: three options, but none that banks like
Avoiding crowds: BlackRock leads push to model 'endogenous' risk
A known flaw in conventional risk models is becoming hard to ignore in current markets
Banks explore spin-offs for cleared swaps desks
Non-bank dealers would escape Basel III; private equity seen as likely owners
Irish supervisor sees insurance pricing as prudential issue
Regulator takes hands-on approach following insurance failures
Goldman names new head of US power trading
Other commodities moves at BTG Pactual, EDF Trading, Javelin and Munich Re
Legacy systems: mission impossible or mission unnecessary?
Old technology poses security and compliance risk
Time running out for ‘Herculean’ UK bank ring-fencing task
Final rules needed by early 2016, say banks, or implementation deadline could be missed
Banks fear capital add-ons for BCBS 239 failures
Capital add-on is "a stick that's out there", says Santander's Goddard
ESRB's buffer plan would worsen systemic risk – insurers
Industry and regulators at loggerheads over pro-cyclicality
Top 10 Operational Risks for 2016
Risk.net presents the Top 10 Operational Risks of 2016, as chosen by risk practitioners
ETFs ditch derivatives as investors flock to physical products
Lyxor and Deutsche are switching to physical replication for the majority of their ETFs
Banks unyielding in contract talks on clearing
European buy-siders that leave clearing-contract talks too late could be told 'take it or leave it', lawyers warn
Energy firms urge EC to ease Emir clearing rules
Review highlights concerns over impact of clearing on nonfinancials
Dodgy discounts: DVA claims fly in cross-currency market
Derided pricing adjustment is being used to undercut competition, traders claim
Banks test promise of blockchain as CCP replacement
“You can imagine a world where you don’t need clearing houses,” says senior banker
The ideas on offer to calm buy-side repo fears
Comprehensive solution to the challenges pension funds will face under central clearing remains out of reach
Swaps CCPs hope to slash capital via margin change
Treating margin as settlement could cut leverage – CME, Eurex, Ice, LCH.Clearnet all seeking approval
Small banks face rate options valuation model change
Negative rates causing pricing model rethink
Negative swap spreads hit bank capital buffers
Portfolios of asset-swapped US Treasuries see mark-to-market losses of up to 20bp
Banks try to copy Citi and UBS clearing leverage cuts
Tactic slashes exposure for FCMs, but could undermine lobbyists
US margin rules threaten clearing bottleneck
Fed estimates $2.5 billion annual cost of funding margin on bilateral trades
Hedge, reinsure or restructure: insurers mull risk-margin fixes
Advisers are pitching ideas to help companies deal with rate-sensitive risk margin
Dealers baulk at new SME derivatives rules
Priips to force banks to publish cost analysis of corporate trades
Asset managers urge SEC to adopt swing pricing
Rule change could help funds navigate illiquid markets, asset managers claim