News
Hedge funds expect more alpha in mortgage trades
Despite a spectacular run-up in prices since 2010, US residential mortgages continue to offer strong opportunities for hedge funds. Investors should continue to see gains throughout 2013
Banks push alternative to Basel Committee securitisation model
Basel proposals would kill European market, banks warn – and some regulators sympathise
Australian regulators unveil criteria for mandatory clearing
Three regulators, including the RBA, reveal how they will decide whether and when to implement mandatory clearing requirements for OTC derivatives
Paulson touts merger, credit returns as gold bet turns sour
John Paulson gets back to his roots as an event driven investor and finds profits in mergers and restructurings in the first quarter while his big bet on gold as a hedge against inflation fails to win
Financial transaction tax will harm Europe’s banks in Asian derivatives markets
The draft form of the EU's proposed financial transactions tax is 'unworkable' for European firms operating in Asia
Credit Suisse appoints Brian Chan as head of Asia-Pacific equity derivative sales
Chan is named as Min Park's replacement at the Swiss bank
CVA exemptions should be rolled out globally – Risk.net poll
Three quarters of survey respondents believe regulators should copy the European Union’s CVA exemptions for trades with corporates, pension funds and sovereigns
New FCA platform rules could mean more product sales via platforms
Electronic platforms that charge fees instead of taking provider commission could, from April 2014, sell more products, as investors try to make the most of the charges they have to pay
Insurers bolster inflation protection
Hedging assets sought to combat escalating risk of interest rate and inflation spike
Mandatory bundling will damage trading in European gas, say firms
Capacity Allocation Mechanism network code could restrict gas trade at physical hubs and interconnection points
Swap push-out reform bill passes committee despite Waters opposition
HR 992 passes by 53 votes to six, despite protests by leading Democratic member on House Financial Services Committee
UK regulator right to retain flexibility to force changes on internal models
Head of the PRA plans to use early warning indicators in supervisory work, notwithstanding the risk of EU challenge
SEC’s Amy Starr: US banks must comply with estimated value guidance “in very short order”
Banks that do not promptly disclose the estimated value of their structured notes risk additional scrutiny, says regulator
Survey reveals gaps in risk information from Asian buy-side institutions
Getting timely and relevant risk-related information is a problem for Asian buy-side firms
Hedge funds benefit from lower prime broker fees
Hedge funds can lock in favourable rates for prime brokerage services as competition forces banks to rethink pricing, says former BlackRock managing director David Geffen who now runs a consultancy
Banks eye July 12 exemptive order deadline
A CFTC exemptive order expires in July, meaning new regulations could capture a broader range of clients as US persons
US insurers target European commercial real estate debt
Attractive yields and supply demand mismatch spur interest
SEC announces departure of senior enforcement official
David Bergers to leave the SEC this month
FX prime brokers welcome CFTC relief
CFTC provides last-minute relief for FX prime brokers, having listened to arguments that the market could be seriously impeded by business conduct rules
European investor appetite for niche FoHF offerings growing
Europe's fund of hedge funds industry has suffered AUM declines since 2008 but there are signs of a rising appetite for niche strategies and bespoke mandates. Stenham has launched two niche FoHFs
SEC cross-border rules an improvement on CFTC proposals, say lawyers
Narrower US person definition and substituted compliance proposal win praise from market participants
China onshore OTC clearing postponed until 2014
OTC clearing onshore in China will be delayed until at least the end of 2013 or early 2014 according to an official at Shanghai Clearing House
Bank of Japan raises ‘major concerns' over US foreign bank rules
Letter to Fed governor challenges proposed regulation of foreign banks on the basis of inconsistency with international standards and restrictive liquidity rules