News
Op Risk Benchmarking 2024: the banks
As threats grow and regulators bore down, focus shifts to the first line
Consortium-backed FMX eyes push for FX unit
Formerly Fenics FX, the venue has seen growth from dealers and non-banks using its pegged order types and dark pool liquidity
CME to launch single-stock futures
Exchange will focus on ‘Mag 7’ tech names after rivals fail with broader offerings
Fed stress-testing operational readiness of discount window
Experts say consultation on improved ops should be accompanied by focus on willingness to borrow
BlackRock preps managed futures ETF
Asset manager’s plans could open strategy to $400 billion-plus new asset pool
Millennium risk manager defends leverage in basis trade
“Gross notional measures don’t equate to market risk,” says Scott Rofey
CFTC weighs third-party risk rules for CCPs
Clearing houses could be required to formally identify and monitor critical vendors
Banks feel regulatory heat on op resilience
Op Risk Benchmarking: supervisors dial up reporting expectations and on-site inspections
China’s snowballs hit by new regulatory clampdown
Restrictions on structured note issuance by securities houses blocks key distribution channel
Withholding tax trips up Eurex agency clearing model
Clearing members rely on CCP to resolve potential problem with German tax authorities
Bilateral streaming relationships set to grow, say LPs
FX Markets Europe: More clients are embracing APIs to access bank liquidity directly
FX options workflows need an overhaul, say buy-siders
FX Markets Europe: Traders say electronification of FX options is still lagging
CME launches late term €STR bid
Exchange group becomes third provider with rate built on €135 billion of daily transactions
Girolami to leave LCH for NatWest
Clearing house CEO named CIB head for UK lender
Exchanges vie for EGB futures market
Rivals eye Eurex’s dominance in EGB futures, but dealers are split on the likelihood of challengers succeeding
LSEG shelves replatforming project for FX Matching venues
After EBS migration, dealers had little appetite for another major technology project
Dealers weighing response to FXGO’s fee plans
Spread compression means costs will likely have to be passed to clients, say banks
FX options market eyes Trump inauguration trades
FX Markets Europe: Traders turn to short-dated plays on cabinet picks and early tariff actions
New CME guidance to drive tighter margin call management
Clearing house rule clarified to limit the use of grace periods to cases of admin/operational errors only
People: SocGen and Nomura spot slew of FX hires, RepoClear gets new head, and more
Latest job changes across the industry
Cross-currency letters of credit gaining popularity in Asia
Divergent central bank policies see CNH LCs increasingly used to cover USD invoices
SEC leadership change puts Treasuries mandate under scrutiny
FICC clearing models approved, but critics think delay could revive prospects of done-away trading
Risk Awards 2025: The winners
UBS claims top derivatives prize, lifetime award for Don Wilson, JP Morgan wins rates and credit
Markets Technology Awards 2025: Untangling the knots
Vendors jockeying for position in this year’s MTAs, as banks and regulators take aim at counterparty blind spots