GARP
Banks welcome UK IMA eligibility test delay, but some want more
Risk Live: PRA extends monitoring for ‘Spearman’ test, while US regulators drop correlation metric
Banks demand look-through on private credit lending
Risk Live: Risk managers say they need to see underlying loans before lending to funds
AI autonomy may redefine risk management roles
Risk Live: Machine validation of autonomous processes may emerge “relatively soon”, EIF risk chief says
Chinese securities houses await margin clarity from CSRC
Firms still in the dark about how to exchange VM ahead of go-live in September
Mention markets could be the gap in CFTC prediction rules
Proposal clamps down on most – but not all – contracts that are decided by individuals’ actions
Trading desks urged to bolster cross-market surveillance
Artificial intelligence could help track market abuse across different instruments and venues
Weekend staffing looms as 24/7 trading hurdle
Out-of-hours coverage was “not an easy task” for CME’s continuous crypto launch
Esma denies need for new competitiveness mandate
MEP wants explicit requirement; Esma official says it’s already covered in existing rulebook
Clearing banks pick holes in VAR-based CCP margin models
New models ease cliff effects, but banks say they are less predictable and prone to undershooting
Treasury basis trade loses its allure as returns shrink
Tight spreads and rising funding costs are pushing the cash-futures basis trade out of favour
XTX Markets’ US sales head joins rival IMC Trading
Benjamin Klixball takes up new role at Dutch prop trader in New York
Clearers face heavy lift on CME-FICC cross-margin service
Dual registration and regulation plus uncertainty over close-outs all weigh on client offering
Industry calls for Hong Kong T+1 delay amid congestion fears
Q4 2027 alignment with Europe and UK transition raises operational risk concerns
EU lawmaker calls for review of Luxembourg’s cross-border rules
Grand Duchy accused of side-stepping rules aimed at prising away banking business from London
AI could shrink trader roles – markets heads
DekaBank, BNPP AM see hedging, risk position management and bond markets as ripe for robots
Doubts linger over start date for 24-hour US stock trading
NSCC will be ready in June, but questions remain over corporate actions and circuit breakers
Market-makers give mixed verdict as CME Spot+ turns one
Traders encouraged by depth of liquidity despite wider spreads and passive performance qualms
G-Sibs face daily data headache from US surcharge proposal
Move to more frequent measurement would be “massively burdensome”, says senior exec
LSEG’s FXall to launch credit-intermediated FX forwards service
Split Risk to allow buy side to tap best spot and swap prices to create forwards, and unbundle market and credit risk
Banks in Asia turn to integrated third-party risk units
Regional and global firms create centres of excellence bridging first and second lines
European Commission plans permanent changes to FRTB
EU legislator will start work on new rules later this year to ensure level playing field with US
AI governance rules coming soon, says CFTC chair
Selig doesn’t want to stifle innovation, but says trading or advice algos will need guardrails
Clearing firms flummoxed by new margin models at CME, Ice
VAR-based portfolio margining is easier to manage, but harder to explain
UK insurers turn up leverage on structured gilt trades
Par-par asset swaps give way to higher-leverage structures as funding costs increase