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Commodity traders not too big to fail, suggests FSB report
Trafigura, Vitol and other trading houses unlikely to be captured by proposed criteria for global systemically important financial institutions
Industry welcomes footnote 513 no-action extension
Industry sources have welcomed CFTC decision to extend no-action relief for its non-US swap dealer requirements and to consult on definitions
Too-big-to-fail problem solved, claim leading industry figures
FDIC's single-point-of-entry method applauded but concerns still linger
CFTC-Ferc deal leaves enforcement question unanswered
Agreements reached under US Dodd-Frank Act fail to address critical issue of enforcement
EMR heralds greater government intervention in UK power
UK Electricity Market Reform, which is set to come into effect in July, will introduce a level of government intervention not seen in the country’s power market since the early 1990s. The impact will be felt by UK power firms and could ripple across…
Crude-by-rail data gains in value for traders
As an increasing volume of crude oil is transported via North America’s railroads, market participants are growing hungry for data and market intelligence on crude-by-rail. Such insight had been in short supply, until recently. Alexander Osipovich reports
Insurers to ramp up private equity exposure in 2014
Insurers are rethinking their investment strategies and beginning to increase their exposure to private equity. Some are even looking at it from an asset-liability management perspective.
Resist the rise of the risk management machines
Overreliance on modern risk management systems, and metrics such as value-at-risk, can blind firms to tectonic structural market shifts. To help alleviate this problem, the use of human judgement and intervention is required, argues Vincent Kaminski
Trading OTC may be costlier than you think
Debate continues to rage about the merits of clearing, with some market observers arguing that the benefits of using central counterparties are outweighed by the precipitous costs involved. But such criticisms fail to take the full burden of over-the…
Finra bears down on complex structured products
Topping the regulator's list of priorities for 2014 is ensuring that US brokers make adequate enquiries before offering complex products to retail investors
CVA desks could struggle with Volcker correlation tests
Banks turn to lawyers for advice as CVA functions face tougher conditions than other trading desks
Frontloading fears remain despite Esma guidance
Uncertainty has been narrowed by Esma Q&A, but dealers say they will still face pricing headaches
Op risk, FVA and OIS - Risk.net’s top stories of 2013
Operational risks, funding valuation adjustment and the money made by one dealer in the early days of OIS discounting – the top stories of the year on Risk.net
Riskier structured products with 60% barriers could be 'shockers' of the future, says insider
Capital-at-risk products with a 60% barrier have crept into the retail market and are becoming increasingly ubiquitous. But is the extra risk they pose appropriate for retail investors?
New Solvency II capital charges still threat to ABS demand
European insurer demand for debt securitisations could vanish despite proposals for lower capital charges
Quants turn to AI for market insights
A Trade Odyssey
Basel said to be weighing leverage ratio U-turn
Cash collateral may be allowed to bring down derivatives exposure - and repo treatments could also be softened, according to three industry sources
Poor risk analysis weighs on Dutch disability market
After an overhaul of legislation in 2006, Dutch insurers eagerly tapped the occupational disability market. But they grossly underestimated the risks and costs of providing cover and have been forced to increase their reserves in response to higher than…
Insurers eye opportunities in commodity trade finance
CX Re and Partnership Assurance invest in CTF assets
CFTC guidance means FIA-Isda contract 'no longer needed'
Execution agreements that have taken years of work cannot be used on Sefs - and a big change is needed if they are to survive at all
US power firms slam ISO New England over market ‘flaws’
Winter reliability at risk due to problems with real-time pricing, market participants warn
Australia to receive go-ahead for CFTC substituted compliance
Australian market will broadly be able to follow domestic rules to comply with Dodd-Frank
Policy-makers consider extending capital backstop to global insurers
IAIS to decide in 2014 whether to apply basic capital requirement beyond systemically important insurers
UK power firms call for quick implementation of EMR
Despite worries about UK Electricity Market Reform, market participants call on government to press ahead