News
Life and Pensions Nordics: Insurers call for clarity on interim measures
Swedish regulator will not make guidelines legally binding on firms
Life and Pensions Nordics: Interim measures 'not undemocratic' – Eiopa
Guidelines 'necessary for convergence' but fears of two-speed implementation
Prop trading no longer an option for dealers, says Masters
Commodity businesses must have broad client base to absorb increased regulatory costs, says JP Morgan commodities head
Asean Risk 2013: Use of credit ratings in Basel III provides risk weighting that ‘defies logic’
Economic fundamentals, not credit ratings, should drive Basel III risk weightings, argues CIMB markets head
Eiopa developing early-warning indicators to monitor internal models
Indicators needed to identify situations where a firm's model no longer meets Solvency II calibrations, saya Eiopa
US expected to take third way on CVA charge
Federal Reserve will not mirror European exemptions but could instead modify treatment of CVA and market risk hedges, industry sources say
Sef rules continue to raise questions
Market surprised by change to swap execution facility rules, after final requirements were approved on May 16
Cern Pension chief urges others to ‘think like global macro hedge funds’
CEO of the Cern Pension Fund Theodore Economou says pension funds should use the techniques of the best global macro hedge fund managers to control risk and volatility while producing absolute returns
Winners announced for European Single Manager Awards 2013
2013 winners include BlueCrest’s Leda Braga for outstanding contribution to the hedge fund industry. Others honoured include Cern Pension Fund, Winton’s David Harding as well as some big-name funds
Australian banks lobby for reduced margin on cross-currency swaps
Current treatment of initial margin on uncleared swaps will cost Australian banks $21 billion
Launch of renminbi clearing in Singapore could spur RMB commodity derivative market
Infrastructure to clear RMB trades in Singapore is now live
BIS finds ‘no evidence' of persistent collateral scarcity
Report says increased reliance on collateralised funding and demands of regulatory reforms have not led to any 'lasting or widespread scarcity' of high-quality assets
Life and Pensions Nordics: regulators and insurers must respond to guarantees challenge
Solvency II must support long-term guarantees but insurers must develop simple products, says Nordea Life and Pensions CRO
China low grade coal ban could push up Asia swaps liquidity
Facing pressure from domestic producers and chronic pollution, China's authorities are considering clamps on low grade coal imports – potentially increasing swap activity
Hedge funds escape Japan rout with minor losses
Global macro hedge funds show no signs of bailing out of the ‘Abe trade’ after weathering the sudden reversal in Japan. Global macro and managed futures funds lost on average 0.6% on the day
Banks struggling with European reporting rules
Reporting infrastructure built to fulfil Dodd-Frank requirements will need to be revamped to meet Emir standards, say banks
India‘reluctant’ to apply for Esma recognition under current rules
Indian reticence over Emir steps up pressure on EC equivalency regime
FoHFs begin recovery
Separate accounts and advisory mandates boost FoHF growth
China's red tape reduction could lead to wider CNY trade band
Chinese regulator Safe's efforts to simplify investment into the country seen as a further sign of renminbi liberalisation
Bernardino calls for dramatic extension of Eiopa's powers
Let Eiopa levy fees on insurers and carry out direct supervision, argues chairman
Eurex may copy CME swap futures
German exchange seeking legal advice on scope of Goldman Sachs patent behind CME's interest rate swap futures
Demand for Topix options gives dealers hedging headache
Institutional demand for Topix options outweighs supply and is creating basis risk for dealers hedging their positions
France and Germany seeking greater Fatca reciprocity before signing IGAs, expert says
Questions remain about why France and Germany are yet to sign their IGAs with the US
Shadow bank reforms ‘should prompt review’ of Solvency II money market fund charge
Treat regulated money market funds more like banks deposits, says top law firm