News
Libor in need of ‘massive makeover’, CFTC’s Chilton says
CFTC's Chilton says a complete overhaul of Libor is needed - including distancing it from the BBA
Ex-Credit Suisse bankers founding energy risk advisory firm
Former head of power trading joins at least one ex-colleague to found Scoville Risk Partners
ALM Europe: Banks could issue more sub debt to cut bail-in risk, says BoI capital head
Banks could issue more subordinated debt to protect senior creditors from the threat of a bail-in – in theory. But Bank of Ireland capital head says the market is too thin
Arbuthnot poaches Coutts execs to bolster private banking and wealth management
Two of three new senior appointments at Arbuthnot Latham hail from rival Coutts
Chan remains Asia structured products head at Deutsche following cuts to equities
Susan Chan remains in post at Deutsche Bank following job losses in Hong Kong and Japan as asset classes are consolidated into one structured products group
UK insurers behind schedule on Solvency II data requirements
UK Financial Services Authority highlights problems with data control, ownership and validation
Adoboli's fellow trader knew about off-book profits, court hears
Others on the ETF desk were aware that alleged UBS rogue trader was hiding profits in an "umbrella" account, court hears
Adoboli trial: ‘risk-seeking’ culture at London UBS
UBS is “less risk-averse” in London than in the US, says Adoboli's former manager
ALM Europe: ‘Economic case’ for Basel III delay, says SG economist
Sequencing of the reforms is wrong, Société Générale's chief European economist tells conference
Dividend strategies deploy increasingly sophisticated screening methods
With exchange-traded funds linked to dividends seeing big inflows, providers are now offering more targeted exposure to the sector
New governor signs revised policy target agreement in New Zealand
The Reserve Bank of New Zealand’s policy targets agreement will come into effect on the same day Graeme Wheeler takes over as governor; document includes "stronger focus" on financial stability
Knight Capital creates CRO role after $440 million losses
Following losses because of a rogue algorithm, Knight Capital creates new roles
US insurers expected to redesign products in response to new reserving guidelines
NAIC approves new principles that could increase reserves held on certain universal life products
Trade reporting pressure increases as CFTC deadlines loom
DTCC data repository has received provisional CFTC approval, just three weeks ahead of mandatory reporting for credit and rates, with forex reporting due to begin in January
OTC trade sizes could shrink under Mifid reporting rules
Market-makers will be uncomfortable taking on less liquid trades if instant reporting is required, warns a panel at Isda's European conference
OTC Derivatives Clearing Summit: Some FCMs charging five times more than others, says panel
Fees charged by clearing members can vary wildly – and low-cost providers may try to terminate relationships if they prove unprofitable, panellists warn
Adoboli jury hears of 2011 culture shift at UBS
Witness says risk limits were "flexible"
OTC Derivatives Clearing Summit: Buy side bemoans ‘lowest common denominator’ treatment
Pension and insurance firms complain CCPs treat them the same as hedge funds
SG opens door to Singapore retail investors as new financial adviser regime implemented
New rules governing the sale and distribution of structured products in Singapore are set to be put to the test with the first product issued since the Lehman Brothers bankruptcy
US Henry Hub benchmark to drive European, east Asian natural gas prices: report
Growing exports of liquefied natural gas from North America and a more globalised gas market will lead the US’s Henry Hub price benchmark to become the long-term driver of natural gas prices in Europe and east Asia, according to analysts from Citi
Ice’s decision to buy gas exchange bodes well for TTF: analysts
The Title Transfer Facility natural gas hub is expected to see increased market interest, after Ice's decision to acquire a majority share in APX-Endex's gas exchange
OTC Derivatives Clearing Summit: Joint solution needed on intraday margin calls, says panel
Dealers, clients and clearing houses need to work together to resolve problems caused by intraday margin calls, say panellists
CME’s new swap future uses Goldman Sachs patent
Licensing agreement could be worth up to 20% of revenues from patented contract, and is seen as an attempt by Goldman Sachs to hedge its bets as new rules threaten OTC market profits
OTC Derivatives Clearing Summit: Nearly a third of uncleared CDS are clearing-eligible
SEC study finds large portion of clearing-eligible CDS still trading bilaterally