News
High-profile cases display new emphasis on FCPA compliance
The contrast between the US authorities' treatment of corruption at Wal-Mart and Morgan Stanley imply that regulators are focussing on compliance procedures
People: Mianné and Valet ring the changes at SG CIB
New deputy chief risk officer - and new business line, to be headed by Sindzingre - at SG CIB; clearing musical chairs as Huszar leaves Morgan Stanley, Allen leaves BAML for Deutsche, and Page becomes latest to leave RBS; Langley and McGrath promoted at…
Structured Products Americas: SEC will turn up the heat on the market, says leading lawyer
The US SEC is highly sceptical of the structured products market and higher regulatory standards are on their way, says lawyer
Basel Committee proposes scrapping VAR
Review recommends switch to expected shortfall, postpones CVA charge overhaul, and retains split between banking and trading books
Fragmentation hindering Canada’s electricity market
Fragmentation hindering Canada’s electricity market
Argentina’s YPF move raises political risk fears
Argentina’s expropriation of Repsol’s stake in YPF and Brazil’s prosecution of Chevron highlight the risks facing foreign energy companies in Latin America. Alexander Osipovich reports
Trading positions – Energy Risk May 2012
Energy Risk catches up with the latest appointments, promotions and departures in global commodity markets
Analysts still sceptical of Delta Air Lines refinery acquisition
This week, Delta Air Lines confirmed rumours that it was purchasing a refinery on the US east coast, a first-of-its-kind transaction. As details of the deal have emerged, some observers have warmed up to the idea that Delta can better manage its fuel…
Taiwan’s trade repository setting up reporting agreement with DTCC
Taiwan, home to Asia’s first trade repository, is looking to ink a reporting agreement with DTCC
Isda AGM: Gensler confident clearing location requirements will not be imposed
Regulators are unlikely to insist local currency trades be cleared domestically, says CFTC chair
Isda AGM: No need for Sef Clarification Act, says CFTC's Gensler
Dodd-Frank requires transparency for derivatives trading, CFTC chair says - and final Sef rules will reflect that
Isda AGM: CCPs invited to join determinations committees
Central counterparties have been invited to join the Isda credit determinations committees – but they will not have a vote
Isda AGM: CCPs fear clearing stampede
Market participants now have months, rather than years, until the Dodd-Frank clearing mandate takes effect - and CCPs are worrying about a last-minute rush
Isda AGM: Margin regime ups liquidity risk, buy-side firms warned
Collateral demands will be pro-cyclical - rising as markets become stressed - and will be generated by uncleared as well as cleared trades, DE Shaw treasurer tells Isda conference
Isda AGM: Euro crisis drives up collateral, finds survey
Trouble in the eurozone is increasing collateral in over-the-counter derivatives market, according to Isda
Isda AGM: Deadline for global uncleared margin proposals likely to be met, says panellist
A Federal Reserve deputy associate director says he is confident regulators will meet a June deadline to draw up a consultation paper on global margin standards for uncleared trades
Isda AGM: Early warning system for systemic risk a 'huge challenge', says panel
The Office of Financial Research is charged with supplying data to help US regulators assess potential risks to the financial system, but Isda panellists express scepticism over what data should be used
Isda AGM: E-trading should be a choice, says O'Connor
Removing voice as an option would leave clients facing execution risk, says Isda chair Stephen O'Connor - but some buy-side firms see it differently
Fixed-income investors face greater risks from inflation than deflation, warns iShares
The evaporation of fixed-income yield is set to look even more pronounced when account is taken of inflation expectations, according to an iShares report
South African investors shun non-domestic banks
Market turbulence has made investors in South Africa wary of international banks
Credit Suisse speeds up synthetic-to-physical ETF conversion
Credit Suisse is converting more of its synthetic exchange-traded funds to the physical model, which happens to be favoured by the Swiss Financial Markets Association
On the move
On the move
Isda AGM: ‘Life as we know it will change,’ says O’Connor
New regulations will help reduce systemic risk, but changes need to be made to certain parts of the rules, Isda chairman says
MSCI reintroduces Saudi Arabia indexes
The Saudi Stock Exchange (Tadawul) has allowed MSCI to create and issue Saudi Arabian domestic equity market indexes