Structured products
Editor’sletter
comment
Making connections
telecoms
Pioneer A Tale of Two Funds
Profile
The puzzle of Citigroup
EDITORIAL LETTER | ELLEN DAVIS
Designs for opportunity
The risk architect
Balancing currency and credit risk
Contingency swaps
The value of VAR
IAS 39
The FSA’s quest for respect
Regulation
The top stories from RiskNews
Feature
Spiders finally trap options
new angles
TriOptima trims six companies' oil swap portfolios
TriOptima, a Swedish company dedicated to reducing over-the-counter swap portfolios, has expanded its service into energy. The company has terminated its first group of multilateral OTC oil derivative swaps, with six companies eliminating unnecessary…
Private bankers buying more FX-linked structured products
Private bankers are buying an increasing number of structured products linked to currency movements in a bid to provide more attractive yields to their clients.
German banks get to grips with a new lending reality
Removal of state guarantees and pressure from shareholders for better returns means German banks can no longer churn out uneconomically priced loans to clients. Now they are starting to introduce sophisticated loan pricing systems, writes Duncan Wood
Below the radar
The upcoming Basel II capital Accord’s impact on the global banking industry is expected to be profound, and hardly painless. The Accord’s ramifications for the investment and hedge fund management sectors, while not nearly as obvious,could contribute…
Fitch/Algorithmics deal analysis
New York-based global ratings and risk management specialist Fitch Group has acquired Toronto-based enterprise risk management software supplier Algorithmics for $175 million.
From Basel II to Basel III
Financial institutions face major challenges in modelling credit portfolio risk, particularly in the field of CDOs. Walter Schulte-Herbrüggen and Gernot Becker argue that the main challenge will be in model testing, due to the increasingly customised…
A wrong-way bet
China Aviation Oil (CAO) revealed in late November that it had lost $550 million through trading oil derivatives – but not before its Chinese parent sold $108 million in CAO shares. By Nick Sawyer, with additional reporting by Jill Wong