News
Long Swiss franc players hit by SNB move
Sudden depreciation of the Swiss franc, following an SNB announcement last Tuesday that it would buy unlimited amounts of foreign currency, has left some participants nursing hefty losses
Foster pleads guilty to $22m fraud
Former vice-president of Citigroup's treasury finance department admits embezzlement
Hong Kong regulator moves to authorise renminbi products under RQFII
Hong Kong regulatory platform ready to approve RQFII products; China’s central bank says priority to be given to Hong Kong-based subsidiaries of mainland banks and fund managers
ICB's ring-fencing may spell the end for free banking
Industry experts fear ring-fencing of banks' retail operations as proposed in the ICB's interim report may spell the end for free banking in the UK
A-share ETF investors to face higher tracking error due to SFC collateral rule change
A new rule from the securities regulator, effective September 12, means some Hong Kong-listed A-share ETFs will have to fully collateralise counterparty risk exposure from their P-note issuers. The move could cause existing investors to rethink their…
SFOA conference: Eurex supports central bank access for CCPs
Derivatives clearing houses should be able to rely on central bank liquidity support, says Eurex exec at SFOA annual conference
Basel Committee's Walter dismisses reports of LCR overhaul
Basel Committee is working on criteria to decide what counts as a liquid asset, but secretary general says no decisions have yet been taken on how – or whether – to change the LCR
Credit Suisse loses senior Asia prime broking staff; names replacements
Asia-Pacific head of flow financing for prime services departs Credit Suisse with Dereke Seeto named as his replacement
Daiwa makes cutbacks to derivatives team
Japanese bank loses senior derivatives personnel across Asian and London offices; blames Japan earthquake and market uncertainty
Isda to review close-out value definitions
Absence of a standard approach is stifling attempts to value termination clauses, dealers complain
Insurers lack confidence in Solvency II data
Only 21% are highly confident about model data quality
SNB faces battle to maintain franc currency floor
Swiss National Bank pledges to set minimum euro exchange rate at Sfr1.20, but analysts express concern over central bank’s ability to maintain exchange rate floor
Australian regulator moves to implement Basel III two years early
The Australian banking regulator has proposed the country’s banks meet new Basel III capital and liquidity rules two years ahead of G-20 commitments. The proposal has drawn immediate criticism from the Australian Bankers’ Association
First Bribery Act prosecution low-key test for new law
UK's first case brought under the Bribery Act provides an anti-climatic start to the new regime
LV= appoints Haynes as chief risk officer
Steve Haynes takes up chief risk officer post at LV=
Carbon tax here to stay: Alberta energy minister
Alberta, Canada, home to the world’s third largest oil reserves, will await further federal government moves before upping its own emissions limits or developing a carbon cap-and-trade scheme
SwapClear may assist OIS development
SwapClear may assist OIS development
Structured Products Asia 2011: FX-linked products to grow in Hong Kong
Currency-linked structures likely to become more popular in Hong Kong with retail investors. But take-up of volatility products is still muted despite erratic markets due to concerns about complexity, panellists say
Deutsche Bank tops Risk interdealer rankings
Deutsche claims top spot for third year running, with JP Morgan a close second
Market fragmentation "inevitable" if CPI-linked gilts issued, says DMO chief
Key question is to what extent fragmentation could affect liquidity of new instrument, says chief executive of the UK’s Debt Management Office
Volatility of volatility spike drives options liquidity squeeze
Volatility of volatility spike drives options liquidity squeeze
People: Citi ramps up listed and OTC clearing
Citi ramps up listed and over-the-counter clearing
Trading positions - September 2011
Energy Risk catches up with the latest appointments, promotions and departures in global commodity markets
Political pressure will come to bear on US margin rules – Risk.net poll
More than half of respondents expect regulators to back down over extraterritoriality application of margin rules