Infrastructure
No strings attached
louise purtle
Editor’s letter
comment
Following the paper trail
commercial paper
Tragedy or farce?
parmalat focus
Come together
market graphics
Axa
cover story
Risk appointments awaited
New Angles
A potential backlash
Wealth management
SIA defends revenue sharing between broker-dealers and mutual funds
The Securities Industry Association (SIA) has defended revenue sharing, a practice in which a mutual fund adviser pays additional compensation to a broker-dealer or other financial intermediary for additional administrative services, such as marketing…
Operational risk versus credit risk: Similarities and differences
Many attempts have been made to adapt credit risk models to quantify operational risk. In this article, Gerrit Jan van den Brink of Dresdner Bank and KPMG's Thomas Kaiser compare op risk and specific credit risk models in terms of input data, methodology…
IT spend focusing on ROI
Return on investments (ROI) – not merely regulatory compliance – will drive the increase in information technology (IT) investments in the top global banks in 2004, according to Group 1 Software, a Maryland-based financial services data solutions…
UK's FSA takes issue with misselling and market timing
The investment management industry in the UK is under fire from the Financial Services Authority (FSA) on a number of fronts at the moment.
A window on transparency
Hedge funds will no doubt start 2004 where they left off in 2003 - as the investment vehicles of choice for private and institutional investors looking for the best opportunities for decent returns.
Basel Committee to publish new paper on group allocation issue
The Basel Committee on Banking Supervision will issue a paper outlining its approach to the group allocation issue shortly after the scheduled mid-January meetings of that group and (separately) the Capital Task Force.
Mark-it set to offer new services as seven banks buy equity stakes
UK credit data provider Mark-it Partners plans to offer a convertible bond pricing service by the end of March, to complement its credit default swap, cash bond and syndicated loan pricing services. The move comes as seven of the company’s main backers…
Quant of the year - Michael Gordy, US Federal Reserve Bank
Credit risk specialist who is highly influential with academics and practitioners alike.
Nuclear stockpile
The US Nuclear Regulatory Commission has come under fire for not adequately monitoring the decommissioning funds of nuclear power plants. But the NRC says the criticism is unwarranted. By Paul Lyon
DTCC set to launch automated payment reconciliation service
The Depository Trust and Clearing Corporation (DTCC) will this month introduce an automated payment reconciliation service. The move is one of a number of initiatives the US company has planned for the coming months aimed at reducing risk and improving…
Op risk systems come to the fore
Operational risk came to the fore in 2003. Major software suppliers such as SunGard and SAS entered the market through partnerships with or acquisition of early entrant developers, while a number of established trading and risk management systems…
’Tis the season...
Abstract: Aurelian Tröndle presents a general framework for modelling prices of storable and non-storableenergy assets, which sheds light on different market fundamentals, and showshow energy market volatility is seasonal and anything but stable. The…