News
US energy security risk is rising, index warns
The risks facing US energy security are increasing, according to an index published by the US Chamber of Commerce
EC argument for ‘bigger and better’ Iorp directive misguided - NAPF
Solvency II is the wrong starting point for new occupational pension directive, says James Walsh
LTCM had ‘too much risk to be sustainable’ says Myron Scholes
Collapse of Long Term Capital Management was due to excessive leverage and shows perils of over-reliance on classical portfolio theory
Spanish gas market growth slowing, says OIES
Although Spain's gas market has grown faster than all other major Euorpean countries, it now faces a number of challenges, says the Oxford Institute for Energy Studies (OIES)
Risk head leaves Isda
David Murphy leaves Isda, to be replaced on an interim basis by Peter Sime, the association's recently appointed head of research
Bond stars scrap shorts on US treasuries as yields plunge
Old Mutual and Legal & General managers say the time is right for a shift, while Artemis's Littlewood disagrees
Swiss franc strength attributed to 'absolutely no liquidity'
Dramatically reduced liquidity in August, coupled with sovereign debt concerns in the eurozone, have combined to strengthen the Swiss franc, say strategists
Banks turn to dynamic algorithm-based structures to exploit interest rate cycles
Demand for fixed-income dynamic interest rate strategies that combine short-term algorithms and long-term positions on interest rate futures is slowly returning
Pension scheme risk transfer deals up 400% on past quarter
Several longevity swap transactions are in the pipeline despite market turmoil, says Hymans Robertson's Patrick Bloomfield
Promontory hires Newman and Gould to lead greater China office
Frank Newman, former US Treasury deputy secretary, and Ronald Gould, ex-UK FSA senior adviser, join the consultancy's China operations
New proposals could take the sting out of Sefs, say industry experts
The appearance of the Sef Clarification Act last month, coupled with a changing mood in Washington, DC, has given rise to a more positive outlook among e-commerce experts
CME, Ice to launch repositories rivalling the DTCC
Banks have picked the DTCC to build a series of new derivatives repositories, but overlooked rivals CME and Ice vow to fight on
Short-selling bans spark confusion over index trades and extraterritoriality
Dealers say volumes have been light as market participants try to work out scope of bans – with confusion arising on index trades and the geographic reach of the rules
Protected banks welcome new European short-selling bans
Regulators need to protect markets from "rumours and false information" say bans' supporters
Dow Jones adds contango-reducing strategy to its index suite
Dow Jones adds contango-reducing strategy to its index suite
Certain high-yield bonds offer opportunity amid turmoil, says SWIP's Logan
Scottish Widows Investment Partnership's Steven Logan picks out certain high-yield debt, looks to launch new fund
Deborah Fuhr to join BAML in October
Deborah Fuhr is to join Bank of America Merrill Lynch in London as head of global delta one strategy
Banks 'starting to panic' over Fatca
Banks outside the US face operational challenges and increased costs under new tax regulations
Rumours drive Société Générale CDS wider for second straight day
CDS spreads on SocGen continue to rise - with no obvious driving force - while share prices of the three major French banks fall
Banks blame complexity for slipping tri-party reform targets
Reforms to $1.59 trillion tri-party repo market are set to miss industry deadlines, and could now spill into 2012
Korea short-selling ban leaves dealers reeling
Korean regulators unveiled a three-month short-selling ban in a bid to calm equity markets following a 17% fall in the Kospi since the start of this month. The prohibition went live on August 10, forcing major dealers to unload excess stock inventory at…
New op risk system patent, using Bayesian networks, awarded to IBM
Patent project spearheaded by Jonathan Rosenoer is one of a very few op risk system patents to be awarded
US funds seeing ‘increasing demand’ for pension risk management
Pension funds in the US are becoming increasingly aware of the need for pension risk management and pension risk transfers, as new pension regulations are implemented
Oil analysts count cost of recession on crude prices
Commodity analysts re-examine their oil price forecasts in light of current economic deterioration, as the long-term economic outlook remains unclear