Foreign exchange
EU committee overhauled
At the February 18 meeting of the Council of Economics and Finance Ministers (CEFM), a decision was taken to overhaul the structure of the Financial Services Policy Group (FSPG).
EIB to outsource derivatives collateral management
The European Investment Bank (EIB), the financing institution of the European Union, is set to outsource its derivatives collateral management activities to Dutch bank ABN Amro.
Deutsche launches commodity indexes
Deutsche Bank has launched two new indexes that track the performance of a small set of liquid commodities.
Continuous-linked settlement: Extending to Asia
Continuous-linked settlement – the initiative designed to eliminate forex settlement risk – went live at the end of last year. But with only Australia and Japan represented in the first batch of currencies, what will CLS mean for Asia’s banks?
KPMG Study highlights regional differences in Basel implementation
According to a recently released global study by the consulting arm of KPMG, the the international auditing firm, there are significant differences in how financial institutions in the US and Europe are preparing for the coming Basel Accord revisions.
Waiting for guidance
South Korea's banks have made huge strides in implementing risk management systems over the past few years, but Basel II is not yet a driving force, with banks waiting for the Korean regulator to publish local guidelines.
ABN Amro revamps financial markets operations
ABN Amro has combined its global financial markets unit with its loan products division, as part of a major overhaul of its financial markets business.
AIR releases US temperature database
AIRWeather, a division of Boston-based natural hazard modelling company AIR Worldwide Corporation, yesterday released PerfecTemp Hourly, claiming that it is the first cleaned and reconstructed hourly station temperature database for the US. PerfecTemp…
Three more Korean securities firms receive derivatives licences
Three additional securities firms have received authorisation to trade over-the-counter (OTC) derivatives in South Korea following regulatory changes last July that opened up the OTC derivatives market to the country's securities houses.
Risk management based on stochastic volatility
Risk management approaches that do not incorporate randomly changing volatility tend to under- or overestimate the risk, depending on current market conditions. We show how some popular stochastic volatility models in combination with the hyperbolic…
IAS will inject volatility into financial statements, says S&P
The required adoption of International Accounting Standards (IAS) for publicly listed European Union banks by 2005 is set to boost not only the transparency, but also the volatility of these institutions' financial statements in coming years, rating…
IAS will inject volatility into financial statements, says S&P
The required adoption of International Accounting Standards (IAS) for publicly listed European Union banks by 2005 is set to boost not only the transparency, but also the volatility of these institutions' financial statements in coming years, rating…
Struggling with performance fees in a low-return market
European managers are starting to follow their US counterparts adopting adjustable high watermarks on an annual basis By Ralph savage
A winning combination
Employing a marketing agent to increase a hedge fund's size can prove beneficial in the long run ' and allows the fund managers to concentrate on the job in hand
Hancock, Merton and Mendoza launch Integrated Finance
Integrated Finance (IFL), the brainchild of Peter Hancock, Robert Merton and Roberto Mendoza – and one of Wall Street’s worst kept secrets – has officially opened for business.
Dollar downturn sparks rise in hedging activity
The fall of the US dollar in the past few months has sparked an increase in hedging activity among US companies, despite their reluctance to use hedges just six months ago.
Kamakura upgrades key risk management system
Kamakura, a Honolulu-based risk management technology company, has released a new version of Kamakura Risk Manager (KRM), its integrated risk management application.
Platinum offers hedge funds to Asian investors
Platinum Capital Management, the UK-based international financial investment group, has begun to offer two of its hedge fund products – Platinum Washington and Platinum Capital Protected Income Plus, Class A (Platinum Class A) – to high-net-worth…
Sponsor's article > Don't count on buffers
One possible mitigator of the pro-cyclical impact of risk-sensitive capital requirements would be counter-cyclical changes in capital buffers. Empirical evidence on this issue is scarce and a new regulatory capital regime could well induce a behavioural…
Deutsche offers first yield enhancement fund to Asian retail investors
Deutsche Bank has begun offering Singaporean retail investors access to a new Luxembourg-based yield enhancement fund. The move marks the first public offering of a structured fund under the Xavex brand, the Luxembourg-based asset managment entity of the…
AccuWeather president calls for regulation of US National Weather Service
Joel Myers, president of AccuWeather, the Pennsylvania-based weather forecasting company, yesterday called for increased government regulation of the US National Weather Service (NWS), amid fears that its current practice of offering certain institutions…
McDonough paints brave new world of bank regulation
Echoing remarks made earlier in the week, William McDonough, president of the New York Federal Reserve Bank, stressed that the results of the third Quantitative Impact Statement (QIS3) being compiled at the moment show that few changes will have to be…
ORIAG paper published on FSA website
The Operational Risk Implementation Advisory Group (ORIAG), which is chaired by the UK's Financial Services Authority (FSA), has posted its working paper, "Implementation of the Capital Accord for Operational Risk" on its website.