Foreign exchange
Risk awards
The third annual Risk awards recognise excellence and innovation in the fast-changing risk management and over-the-counter derivatives businesses
The silver lining
Enron’s collapse could ironically give a boost to the telecoms market, as Enron Broadband Services bows out of the limelight. By Laurence Neville
Job moves
QUOTE OF THE MONTH: - “The FSA has successfully put the fear of God into senior managers” Simon Gleeson, a partner in the regulatory group at Allen & Overy in London, on the FSA’s new unlimited liability rules for risk management errors Source: RiskNews,…
Fallout for energy markets
Enron’s collapse led to short-lived increases in electricity and natural gas volatility. As the markets settle down, the question now is who will fill Enron’s shoes? By Kevin Foster
Software survey 2002 |
Some online risk management products failed to live up to expectations last year, but software vendors forge ahead, developing products that support fast-growing markets such as credit derivatives and CDOs, and tools to help banks meet Basel II…
Review of the year
A look back at the significant risk events of 2001.
Enron collapse a test, not threat, to credit market
Enron’s bankruptcy may be the biggest test of the credit derivatives market to date. But when the dust settles, its most profound effect may be on credit investors’ preference for managed portfolio transactions. Rob Dwyer reports
Enron and systemic risk
Regulators worry that concentrating derivatives market-making in a few major dealers poses severe systemic risk issues. Could one big player’s failure break the whole system? David Rowe says Enron is an ideal test case, with some encouraging indications
Barra launches Risk Factor
Barra, the California-based risk management systems vendor, has launched an equity volatility software programme, Risk Factor. Aimed at retail brokers, Risk Factor is designed to compare the relative volatility and likely performance risk of more than 10…
JP Morgan accuses WestLB on $165m Enron swap
JP Morgan Chase has accused WestLB of failing to make payment on a $165 million letter of credit (l/c) backing an Enron-related swap. JP Morgan Chase made the dispute public, though it did not name West LB, instead merely referring to “a European…
Brokers allocate $4.6 million WTC disaster relief
The world’s seven leading interdealer brokers have determined which charity funds will receive the $4.6 million they raised as disaster relief for victims of the World Trade Center terrorist attacks on September 11.
Analysts warned to be wary of the yield-curve
Market participants that use short-term movements in the yield curve as signals of future economic development could be mistaken in their analysis, according to a recent report published by the Federal Reserve Bank of New York.
Open interest on E-mini futures surges; S&P 500 vol relents
Open interest on Nasdaq 100 and S&P E-mini futures contracts, electronically traded index futures and options that are smaller than standard futures contracts, has increased by 63% and 15%, respectively, since October. The ratio of open interest to…
Financial institutions reassess risk probabilities
Financial institutions are now increasingly concerned with the likelihood of certain risks following the World Trade Center terrorist attacks, Enron’s near-collapse and Argentina’s debt problems, the US Securities Industry Association (SIA) said in a…
Basel II op risk sound practices paper expected next week
Global banking regulators hope to issue their much-delayed paper on sound practices for managing operational hazards such as fraud, technology failure and trade settlement errors next week.
Swiss and UK banks set to win as Japanese lose in Basel II
Swiss and UK banks are poised to be the main beneficiaries from the proposed new regulatory capital accord, Basel II, according to results from the Basel committee’s quantitative impact study 2.5 (QIS2.5).