News
Stressed VAR will hit forex options, dealers warn
Certain forex options and exotics penalised by Basel 2.5, including emerging market currencies and double no-touches
Industry slams 'unworkable' Esma proposals on indirect clearing
Clearing members would be forced to guarantee trades executed by their clients' clients - on terms the member firms have not agreed
RBC Investor Services chief sees growth opportunities following acquisition
José Placido, chief executive of the newly renamed RBC Investor Services, reveals his company's growth plans in an interview with Custody Risk
European parliament Econ chair confident on eurozone crisis resolution
Sharon Bowles, chair of the European parliament’s economic and monetary affairs committee, believes the end is in sight for the eurozone crisis. She is also positive on co-operation with US lawmakers.
Reprieve for dealers as CFTC extends business conduct deadline
Ten-week extension comes as welcome surprise to dealers, but industry still has concerns about timing and content of new rules
CFTC cross-border guidance a threat to ‘systemic stability’, say Asian regulators
Leading regulators from across Asia complain of the potentially negative impact of the US regulator’s latest proposals
US banking reports put compliance in the spotlight
Standard Chartered and HSBC attract attention for compliance failures
CME ready to fight for market share in Europe, says Sammann
CME Group's European exchange, set to begin trading foreign exchange futures next year, will offer a competitive alternative to other exchanges, says the group's head of forex and rates
Op risk function plays large part in new business approval, says survey
Operational risk managers are heavily involved in new business and change management, but play a less conspicuous role in the front office, according to an Operational Risk & Regulation survey
Anonymity for whistleblowers ‘may undermine programme’
Protecting whistleblowers is essential, says Sean McKessy, chief of the SEC's whistleblower programme
Ruling sets back US emissions trading
Federal judges reject the US Environmental Protection Agency’s latest clean air rule, disappointing emissions market participants and shaking confidence in the viability of US cap-and-trade schemes
Metro Bank CRO cites virtues of a clean slate
A new launch allows a bank to set its own risk culture from scratch – but newly launched banks may be a target for fraudsters, says Mike Hudson
Basel settlement risk guidance puts new demands on forex market
Governance, replacement cost risk, liquidity risk, operational risk and legal risk are among the issues forex dealers must address, according to newly released Basel Committee guidance
Hong Kong Exchange announces trading of deliverable US dollar/renminbi futures
HKEx broadens type of RMB derivatives available to the market
Countries will leave the euro by 2014, says ACI UK poll
The vast majority of respondents believe at least one country will leave the euro by 2014, but expect the single currency to survive
GFI may buy an exchange, says Gooch
Interdealer broker GFI may follow in the footsteps of Icap and acquire an exchange, says GFI Group chief executive
Increased competition for Australian retail deposits won’t cause future liquidity issues
The impact of an increasingly competitive landscape for retail deposits in Australia will felt in pricing, not liquidity – with the growing appeal of other asset classes a more significant threat to deposit levels
LCH.Clearnet model ‘not appropriate’ for Australian market, say two domestic banks
Two Australian banks speaking at Risk & Return Australia are critical of LCH.Clearnet for not meeting local market needs with its central clearing operation
LCH readies launch of new NDF pairs and client clearing
Five months after launch, ForexClear is ready to start offering client clearing and to add five new currencies to the service, pending the approval of the FSA and the CFTC
Korea transaction tax could halve number of derivatives transactions
Proposal for a transaction tax on futures and options could have a dramatic impact on Korea's derivatives market
Downgraded banks struggle to find replacement swap counterparties on ABS deals
A number of downgraded banks are required to find swap counterparty replacements for over 300 structured finance transactions – but this is proving difficult, with few candidates willing or able to step in
CLS hires JP Morgan veteran as chief executive
David Puth will become the next chief executive of CLS, starting next week, the settlement risk utility announced today
End-users will stop using derivatives – Risk.net poll
Proposals to require derivatives users to post initial margin on uncleared trades will cause many end-users to stop using derivatives, say a majority of survey respondents
Publication of swap definitions triggers countdown to compliance deadline
The publication of swap definitions earlier this week initiates a 60-day countdown for compliance to key parts of the Dodd-Frank Act