Foreign exchange
RiskNews
RiskNews
Clearing the air
Emissions trading
Dealers set to eliminate most unconfirmed trades by mid-2006
Dealers plan to eliminate the majority of unconfirmed credit derivatives trades by mid-2006, Mark Davies, head of global credit derivatives trading at Bear Stearns, told delegates at an International Swaps and Derivatives Association conference in New…
Legal spotlight
In our new series bringing legal issues under the spotlight, Simon Gleeson, partner in Allen & Overy's regulatory group in London, outlines the key regulatory changes now shaping the bond markets
Sponsor webcast>> From compliance to better business - making the case for implementing a Basel II solution
Compliance with the Basel II Accord means being able to identify, generate, track and report on risk-related data in an integrated, automated and transparent manner. It also presents a unique opportunity to improve your enterprise risk management…
European Parliament gives green light to Basel II
The European Parliament has voted to adopt the new rules governing the Capital Requirements Directive, which will implement the Basel II framework in the EU.
BNP Paribas makes two senior hires to its equity derivatives team
BNP Paribas has bolstered its equities and derivatives trading business with two new hires. Eric Le Brusq will join as deputy head of equities and derivatives worldwide, and Todd Steinberg becomes deputy head of equities and derivatives for the Americas.
Towards a practical capital model
Existing models for calculating and allocating capital for operational risk fail to achieve their goals. Richard Pike proposes a mixture of such approaches to attain a practical capital framework
EEX to launch carbon derivatives contract
The European Energy Exchange (EEX) plans to launch a futures contract for carbon emissions allowances in October, pending regulatory approval.
Scenario analysis: the way forward
Of the four elements that Basel uses as inputs for the AMA, scenario analysis has only recently been seen as perhaps the most important.
BarCap teams with HFR to offer hedge fund options
Barclays Capital and HFR Group are offering transparent pricing for hedge fund-linked tradable options. Based on the HFRX Global Hedge Fund Index, BarCap will offer a two-way market in European call options to its institutional clients and counterparties…
UK's 50-year linker breaks new ground
The United Kingdom yesterday priced the first issuance of a 50-year inflation-linked bond. The 1 1/4% gilt of 2055 is the longest-dated sovereign index-linked bond in the world.
MAS consults on Basel
SINGAPORE – The Monetary Authority of Singapore published a consultation paper that outlines proposed rules and guidelines on parts of its Basel II implementation programme in August.
Risk ALM USA 2005: Panel discusses differing approaches to ALM
Leonard Matz, a managing director at Kamakura Corporation – a Hawaii-based risk technology vendor – has cautioned against misuse of VAR. “I believe it’s a huge mistake to apply VAR to look at the funding [side] of the balance sheet,” said Matz who was…
Global risk standard in the works
GENEVA – The Geneva-based International Organization for Standardization (ISO) is developing a global standard for risk management, according to Nicki Dennis, head of risk market development at the British Standards Institute (BSI) in London.
Most US lenders would survive bursting of a real estate bubble
Research by Standard & Poor’s suggests that most US mortgage firms would be able to withstand the bursting of a US housing bubble, despite the greater credit risk associated with current mortgage portfolios.
MiFID's Cold Reception
The UK's Financial Services Authority is worried about what the new regulations will mean for British investment firms.
MiFID Winners and Losers
A piece of compliance is presenting firms with such a technology hurdle that industry players are predicting a new host of opportunities.
Falling short of the mark
Financial institutions have struggled to develop operational risk frameworks that will improve business decisions and optimise their use of economic capital. And a new study indicates that op risk is now increasingly viewed as yet another compliance…
The Gathering MiFID Storm
A new regulation from the European Union will transform market structure—and cost investment firms billions to comply. In the meantime, IT strategists are taking a leading role in lobbying European regulators.
Isda’s ‘novation protocol’ aims to tackle derivatives backlogs
The world's major derivatives dealers have signed up to the International Swaps and Derivatives Association’s long-awaited ‘Novation Protocol’, which seeks to facilitate the transfer of existing trades to third parties.
Demanding disclosure
The dislocation in the correlation markets in May confirmed supervisors' fears about concentration risk in the hedge fund sector. And this is fuelling pressure for hedge funds to make more data disclosure. But how would this help to reduce risk? By…
The CRO road
Some of the larger hedge funds have set up formal risk management functions, appointing independent chief risk officers (CROs) to oversee their business. But what role should a hedge fund CRO play, and are these appointments a precursor of wider changes…