News
Bank of Korea wrong-foots market with rate hold; questions raised on anti-inflation stance and bank NPLs
The Bank of Korea held interest rates yesterday in a surprise move which caught fixed-income traders who had factored in a 25-basis point rise by surprise. The move questions Korea’s efforts to tackle inflation and raises concerns that the central bank…
RBI deputy governor maps out the future of OTC derivatives in India
A number of new derivatives initiatives are in the pipeline in India, including the development of a credit default swap market, interest rate forwards and derivatives trade compression services, according to Subir Gokarn, deputy governor of the Reserve…
European Commission 'unhappy' with Dodd-Frank extraterritoriality
EC official voices concern over the long arm of US derivatives rules
New central securities company to facilitate short selling in China
One of China's leading securities houses sees a bright future for domestic investment banks developing hedge fund-like trading businesses, once securities short-selling is further liberalised on the mainland through the establishment of a central…
Bribery Act requirements just good business practice, says consultancy
Kroll chair, Tommy Helsby, says firms should already have most systems in place and implementing better procedures will benefit businesses
Sigor plans new LDCE to capture operational risk losses since crisis
Working group is also considering raising betas in the Basel II standardised approach to encourage movement towards the AMA, but some say this is not the answer
BAML names emissions and energy trading head
Nigel Felgate joins BAML as EMEA emissions trading and energy structured products head
More detail needed on new UK regulatory regime
At a briefing in London, consultants Bovill called for more clarity about how the new UK regulatory regime will operate in practice
Merrill Lynch fined by SFC for mis-selling ILNs
The Hong Kong Securities and Futures Commission has fined and censured Merrill Lynch (Asia Pacific) for mis-selling index-linked notes to investors. The US bank will pay a fine of HK$3 million and repurchase notes held by private investors to the tune of…
Bank of Cyprus CoCoCo exchange offer arouses curiosity
The second-largest bank in Cyprus is in the market with an offer to convert shares into convertible contingent capital securities, but is it a curiosity piece or the genuine article?
Information management problems hurting institutions, says study
Financial institutions struggling to address issues around document control and email management
Asia-Pacific insurance sector leans further towards structured products
Asia-Pacific insurance sector leans further towards structured products
Esma chair fears clashes with US regulations
Maijoor says regulatory differences are unavoidable - but can be overcome
IIF report states need for bank 'bail-ins'
Institute of International Finance says the mechanisms it is proposing will protect the taxpayer from losses
Arguments against forex clearing flawed, says Duffie
Foreign exchange forwards and swaps should be cleared under Dodd-Frank despite industry reservations
FXall looks to Sef licence to boost liquidity
FXall chief executive Phil Weisberg suggests banks might choose to outsource some elements of their single-dealer business to multibank platforms when Dodd-Frank Sef rules become binding
Commonwealth Bank of Australia increases Asian rates trading in Singapore
Commonwealth Bank of Australia is expanding the depth of its Asian interest rates market coverage by hiring new staff in Singapore. The bank is also looking into moving some of its commodities traders to the Lion City
Downturn in markets leaves Swiss investors hungry for leveraged structured products, says Scoach
The structured products industry in Switzerland is flourishing as investors seek hedging strategies in the wake of the Japanese tsunami, says trading platform Scoach
Trade associations start request for proposal process for LEI identifier
Self-registration is preferred operational model, with each legal entity paying an annual fee to cover costs
Elderfield details Ireland's new risk assessment model
Matthew Elderfield, head of financial regulation at the Central Bank of Ireland, reveals details of new ‘Prism’ risk assessment model
CIBC plucks Banjo from Knight Capital
CIBC plucks Banjo from Knight Capital
Deutsche Bank adds to US trading group
Deutsche Bank adds to US trading group
Leahy moves to Nomura
Leahy moves to Nomura
SocGen’s loan group gets Hill start
SocGen’s loan group gets Hill start