Foreign exchange
NAB publishes report on options losses
The National Australia Bank (NAB) has published a report on the A$360 million ($262 million) options trading scandal, which blames weaknesses in risk management controls and inadequate management supervision for the losses.
Sponsor's Article > Alliance & Leicester Uses SunGard's Basel II Capital Manager
SunGard Trading and Risk Systems, an operating group of SunGard (NYSE: SDS), today announced that Alliance & Leicester, a UK financial services group, is using SunGard Basel II Capital Manager for improved credit risk management and Basel II compliance.
Mutual funds: Reputational repair
Stung by market timing and late-trading scandals, US mutual funds such as Putnam are scrambling to shore up their battered reputations. But the fallout may be far from over.
String theory
Awards 2004
DrKW criticises CLS for not introducing central clearing
Continuous-linked settlement (CLS), the global system to reduce foreign exchange transaction risk, should have been set up to provide banks with a centralised clearing facility, rather than just to eliminate ‘Herstatt risk’, according to a senior banker…
Erasing Enron
Awards 2004
Banks move in as Asian regulators ease derivatives restrictions
Banks operating in Asia are rushing to apply for licences to enable them to transact non-renminbi derivatives in China, following a relaxation of the rules from March 1.
HSBC’s forex chief retires as bank makes highest-ever forex profits
Rob Loewy, head of foreign exchange at HSBC for the past 15 years, retired last week as the bank announced its highest-ever dealing profits for foreign exchange.
Repeal repercussions
Awards 2004
Golden procurement
Awards 2004
The cost of good data
The US-based Committee of Chief Risk Officers plans to propose voluntary standardsfor energy price reporting later this year, in the hope of ruling out any needfor mandatory standards. Joe Marsh reports
Old dog, new teeth?
Awards 2004
The big picture
Focusing only on measuring VAR and stress tests limits the role of the risk manager.And there are great benefits from a wider view of what risk management can achievefor a company. By Brett Humphreys
Rethinking regulation
Market manipulation and inaccurate pricing led to the reregulation of Ontario’s electricity market. But at the right price, the Canadian province may see a revival of competition, reports CatherineLacoursière
Technology
Awards 2004
News in brief
Awards 2004
Securities Associations publish guidelines on capital treatment of trading book items
The International Swaps and Derivatives Association (Isda), the London Investment Banking Association (LIBA) and the Bond Market Association (BMA) have published a compendium on capital treatment of trading book items, such as derivatives and securities…
Bob Anderson
Former chief risk officer with El Paso, Bob Anderson now heads the Committeeof Chief Risk Officers full time. By James Ockenden
SunGard unveils new trading and risk management suite
SunGard Trading and Risk Systems (STRS) will next week unveil the first version of its Adaptiv trading and risk management suite.
Insurance industry struggles to cope with ERM implementation
Insurance companies understand the importance of risk management, but are struggling to cope with the implementation of enterprise-wide risk management (ERM) systems, according to a survey published by PricewaterhouseCoopers (PWC) today.
SEC rule on broker-dealers must be equivalent to the EU Directive on Financial Conglomerates, says SIA
The Securities Industry Association (SIA) has urged the Securities and Exchange Commission (SEC) and the US Department of Treasury to ensure that the proposed rule on the Alternative Net Capital Requirements for Broker-Dealers that are part of…
Dembo steps away from CEO role as Algo secures new financing
Ron Dembo, founder and chief executive of Toronto-based technology vendor Algorithmics, is to step away from his day-to-day running of the company to assume the role of chairman. The move comes as Algorithmics secured new financing from its main…