Infrastructure
Muni mania
Municipal Bonds
New life for M&A derivatives
Mergers and Acquisitions
Validating EPE
Empirical validation of trading credit exposure simulation models is clearly essential. David Rowe points out, however, that the process must differ significantly from traditional back-tests of VAR models
An aggregation question
Economic Capital
Steepeners flatline
CMS Spread Options
FSA sets out near-final rules on Transparency Directive and regulatory reporting and COB requirements
Policy statements have been issued for implementation of a series of directives and principles-based regulation.
CBA of Mifid finds compliance costs will be ‘substantial’
Industry has been calling for a CBA of Mifid since the FSAP was introduced. A study that the FSA will use in its full CBA has been released – showing industry fears of high costs.
Surveying risk management
How is risk management viewed in your company? Are there risks you would like to measure but don’t? Which methodologies are most commonly used? What should the discipline tackle next? Energy Risks’ survey reveals recent trends in risk management.
Foreign exchange dealers are ignoring Mifid threat, says Celent
The foreign exchange industry will be beset by lawsuits and regulatory action if it continues to ignore the consequences of the new European Union Markets in Financial Instruments Directive (Mifid) coming into force next year, according to a research…
Upgrading the rating process
As the debate rages over the usefulness of credit ratings, Moody's unveils a set of credit risk indicators derived from market movements. Will 'market implied ratings' silence the agencies' critics?
Markit and Calypso join forces to speed up trade confirmations
London-based data provider Markit and San Francisco capital markets trading software company Calypso have announced that the US-based company will integrate Markit Trade Processing into its software platform.
No merger for FPL Group and Constellation
FPL Group and Constellation Energy have terminated their plans to merge.
Abbey launches its first commercial property bond
Abbey in the UK has launched the first capital guaranteed commercial property-linked bond. The bond has a five-year or seven-and-a half-year investment term, offering 100% or 125% of any growth of the FTSE All UK Property Index (NAV).
CESR sets out work programme and consultations for Mifid
The EU securities regulators have outlined their programme to implement Mifid requirements, marking the end of the legislative phase for the directive.
The correlation debate
In response to an article on asset value correlations for retail banking portfolios, published in the July issue of Risk, Ashish Dev of KeyCorp argues that the current Basel II rules are slightly too liberal for high-quality credit cards and overly…
The MiFID Threat
Thanks to compliance, many of the European Union’s smaller exchanges now face fresh competition.
CME, CBOT to merge
The Chicago Mercantile Exchange is to merge with the Chicago Board of Trade in a move the exchanges say is “expected to transform global derivatives markets.”