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Markowitz attacks hedge fund diversification claims
Nobel prize winner Harry Markowitz says alternative investments may not deliver the diversification benefits sought by investors
Coal derivatives market fired up by new participants
Commodity traders and physical producers move into coal derivatives as major banks retreat
Commodities investing is still fundamentally sound
Commodity investors may have had a bad year, but putting money into commodities of finite supply continues to makes sense
Global Advisors’ Masters looks ahead to commodity rebound
Daniel Masters, the former head of energy trading at JP Morgan and co-founder of hedge fund Global Advisors, has seen his share of ups and downs. Alexander Osipovich reports
Off-the-shelf ETRM software taking off, survey reveals
Off-the-shelf energy trading and risk management (ETRM) systems are more popular than ever before, according to Energy Risk’s annual software survey. However, companies say they still require significant customisation and rarely meet all their ETRM needs…
Probable new CFTC chair 'no ideologue', say former colleagues
Dealers hope Timothy Massad's reputation as a problem-solver will lead to greater collaboration on cross-border regulation
Bilateral compression takes off as banks tackle leverage
It used to mean the tearing-up of perfectly matching trades, but compression has become something bolder and more ambitious in recent months – at the same time, it has also become more confusing, and smaller banks fear they may have the wool pulled over…
European Single Manager Awards 2014 nominations open
The 14th European Single Manager Awards recognise the best performance of managers and funds based in Europe. The judging process takes into account qualitative and quantitative criteria
Barclays ETN follows Nobel strategy
Star attractions
Hedge funds, leverage and mortgages: why Fannie and Freddie's new deals worry some experts
Hedge funds have been keen buyers of the new mortgage risk-sharing deals issued by Fannie Mae and Freddie Mac, but as spreads have tightened, worries about leverage have grown. Some now argue mortgage finance requires a more stable source of capital. By…
US banks fear competitive impact of higher leverage ratio
US regulators have pledged to adopt the new Basel leverage ratio, but with higher minimums, sparking concerns that US banks will find it harder to compete in repo and other businesses. Lukas Becker reports
Vix spikes as short volatility trade gets tougher
Volumes in Vix futures reached an all-time high on the back of January's volatile markets
Cleared US dollar swap volumes drop 80% on first day of Sef regime
Numbers compiled by Isda show huge drop - other sources claim smaller fall. Dealers say people "are tiptoeing their way in".
RBS portfolio sale to BNP Paribas awaits EC approval
BNP Paribas awaits competition clearance
DTCC backlog leaves corporates unable to comply with Emir
Two companies say they have not been able to report to the DTCC's repository, and stopped trading swaps as a result
Platts shifts focus away from price reporting code
Price reporting agency says it intends to concentrate on complying with Iosco rules, leaving future of IPRO code in doubt
Esma cautions on Mifid rules
European markets watchdog warns that complex products are being mis-sold
Brazil onshore structured note issuance expected to hit $500m per month
Brazil's onshore market for structured products opened with healthy issuance volumes in January, and bankers are hoping for turnover equivalent to $500 million every month
Fed probes catastrophic risks in bank physical commodity trading
The US Federal Reserve has moved to tighten the rules on physical commodity trading by banks, citing fears they might suffer huge losses as a result of an environmental disaster. How valid are such concerns and what steps is the Fed likely to take?…
Oil benchmarks need reform, says Vitol's Taylor
Oil industry needs to make issue of dwindling benchmark production a top priority, says Vitol chief
Questions over prime broker/depository discharge
Game of blame
Dealers and Sefs divided over sponsored access
After Bloomberg and Tradeweb announce first completed sponsored access trades, sceptics claim service has no future
Options cutting costs for some cross-currency swaps
Dealers found a way to protect some cross-currency swaps from heavy new capital requirements last year, by adding foreign exchange options into the structure – but the powers of the technique are limited. Matt Cameron reports
Who is Timothy Massad?
He cooks, he’s quiet, he’s confident, and he will cope with everything Wall Street throws at him. That is the picture painted by former colleagues – and adversaries – of the US Treasury Department’s Timothy Massad, probable new chairman at the Commodity…