News
Railroad indexing to API 2 could help US coal exporters manage risk
Link to API 2 could make exports look more attractive and reflects growing participation in coal market by US firms
HKMA warns banks not to weaken liquidity profile to benefit from LCR phase-in
Hong Kong regulator to consult banks on new LCR this quarter and assess level playing field implications before deciding on whether to adopt a phased approach
Mariner absorbs Concordia as hedge fund consolidation gathers pace
Concordia Advisors, which manages around $1 billion in relative value-oriented interest rate, credit and equity strategies, is to merge with $10 billion hedge fund Mariner Investment Group.
No penalties for JP Morgan over $6 billion risk management failure and AML shortfalls
US regulators issue penalty-free consent orders, while the FSA promises investigation
Sidecar capacity set to grow as capital market investment increases
Third-party solutions increasingly sought by firms seeking reinsurance and retrocession
High-frequency trading improves market quality, study finds
Study disproves commonly held negative perceptions of HFT
Final Fatca regulations must provide clarity, experts warn
Industry hopes for more detail and draft agreements later this month
Undeveloped Asian capital markets continue to make hedging difficult
A lack of liquidity is still providing problems for corporates looking to hedge – even in Hong Kong
HKEx to start OTC clearing in April
The Hong Kong bourse is set to start OTC derivatives clearing in April and is planning to expand its cross-asset derivatives offering over the next two to three years
Opening up of China market will not deplete Hong Kong RMB liquidity
The renminbi deposit base in Hong Kong banks will not face depletion even as investors have more ways of remitting the currency back to mainland China, say speakers at the Asian Financial Forum
Northern Trust to shadow BNY Mellon at Bridgewater
Northern Trust appointed to replicate middle- and back-office functions of existing administrator BNY Mellon at $140bn hedge fund
Futurisation forces hundreds of traders to sit exams
Swaps-to-futures switch at Ice – plus hedge fund regulatory changes – behind threefold jump in numbers taking futures trading exam
Lawyers question Eiopa’s powers to soft-launch Solvency II
Authority promises guidelines on early implementation of risk governance and Orsa rules, but some doubt remains
Risk awards 2013: Credit Suisse wins top house
Swiss bank recognised for reshaping its trading businesses in 2012, as Risk publishes its fourteenth annual awards
Japan: Initial margins on OTC clearing of forex swaps not desirable
Japan questions the current framework for clearing foreign exchange derivatives
Asia needs bigger voice in international financial rule-making
Regulators from Malaysia, Dubai and Australia call for more countries in the region to take a stronger role in shaping the global agenda
FX options clearing analysis in final stages
The GFMA's global forex division is understood to be close to completion of its analysis of five years of options trading data - a project that is intended to lead to a solution for options clearing
Huge RPI swaps move catches market flat-footed
Some dealers said to have suffered losses after surprise decision to leave RPI methodology unchanged
Long-term guarantees test specifications to be published on test launch day
Fears that delay in releasing specifications will lead to inaccurate results
Changing hats – February 2013
Changing hats – February 2013
People: Citi and RBS to cut 5,700 in investment banking
Citi and RBS to cut 5,700 in investment banking
iShares cements position as Blackrock snaps up Credit Suisse ETF business
Blackrock's acquisition of the exchange-traded funds operation will give iShares an even more dominant position in the European physical ETF industry
Multi-index underlyings: worth the extra risk?
Roughly 13% of the UK's retail structured products market consists of products based on more than one index. Many offer double-digit returns, but some providers say their higher risk levels are the opposite of what the structured products industry needs…
SEC’s director of enforcement to leave
Fifth senior employee to depart SEC following resignation of SEC's chair