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MiFid will eliminate sales of 'complex' products to retail, says CNMV
Implementation of the Markets in Financial Instruments Directive (MiFid) will eliminate sales of 'complex' structured products to retail investors without advice in Spain. That's according to Maria Jose Gomez Yubero, head of supervision at Spanish…
ABX widening stokes credit fears
Credit market worries are growing, as widening spreads on US subprime home equity securities shake US and European credit markets.
Two speeches; two very different views of Basel II in the US
Comparing the views of two US banking supervisors shows just how close the US is to reaching an impasse over Basel II.
OTC property derivatives to launch in Australia
A deal paving the way for an Australian over-the-counter property derivatives market was announced yesterday between RP Data, Rismark International and GFI.
IOSCO out with securities offerings conflicts of interest CP
The IOSCO has published a consultation paper (CP) on market intermediary management of conflicts of interest that arise in securities offerings.
Van Stappen joins as Equiduct as COO
Equiduct has appointed Willy Van Stappen as chief operating officer.
Anderson A Delicate Balance - buy-side risk management systems feature
Risk management on the buy side has, over the course of the last few years, become a specialist business process in its own right. But there are still a myriad approaches to essentially the same challenge: ensuring that you do not expose your…
Event horizon
Rick Cech takes a second look at what makes up operational risk event types, and asks if there is a more advanced way to define them
OP RISK IN ASIA: Time for change
Implementation of the core principles of op risk still has a long way to go in the Asia-Pacific region. Ellen Davis reports
Risk amplifiers will endanger credit market, report warns
High levels of speculation, leverage and securitisation mean the credit market is riskier than it appears, according to research published this month by the UK independent financial research company Clear Capital.
LSE consults on proposed product solutions for Mifid
LSE comes up with a raft of product ideas to aid Mifid implementation
Deutsche Börse expands in Asia
Deutsche Börse has expanded its Asian index business. It has added to the DAX Global Index Series with the release of the Dax Global Asia and has also signed a memorandum of understanding (MOU) with China Securities Index Company.
CESR publishes first Mifid Level 3 recommendations
CESR is out with the first in a series of Level 3 recommendations for the implementation of Mifid.
Susan Schmidt Bies resigns
Susan Schmidt Bies has resigned as a member of the Board of Governors of the Federal Reserve System
Credit Suisse goes online
Swiss investment bank Credit Suisse has expanded its e-commerce platform for trading of structured products. Following trials in Europe, US and Asia, the Securities Network platform is now available to Credit Suisse clients across the globe.
Synthetic indexes on ARMs created
CDS IndexCo, a consortium of 16 dealers, and Markit, a London-based independent pricing and valuations specialist, have developed a family of indexes on the hybrid adjustable rate mortgage (ARM) market. The Hybrix indexes are cash-settled forward…
A Ratings Quandary
The US Securities and Exchange Commission is set to hammer out several key provisions of the US Credit Rating Agency Reform Act, intended to increase transparency in the ratings industry. But some analysts are concerned the legislation could go too far.
With a bang or a fizzle?
With the deadline having passed for submitting Basel II risk model applications to national regulators, Europe's financial institutions should be well on their way to compliance. But the reality is that many are still struggling to implement the new…
CESR out with CPs on Mifid Best Execution and Transaction Reporting
CESR has published its long awaited guidance on Mifid best execution and transaction reporting.
A View on 2007: By Interwoven’s Jos Stoop
What will 2007 hold for structured products? In the final part of our series of thoughts on the subject we invited Jos Stoop, general manager of financial services solutions, at US risk technology firm Interwoven, to provide his predicitions. Look out…