News
Peter Rading exits RBS
Co-head of fixed income, currencies and commodities and global trading is leaving RBS after 22 years
Ex-Citadel managing director's structured credit hedge fund secures seed deal
Grosvenor Capital Management has committed $85 million in seed capital for a structured credit hedge fund started by a group of former Citadel executives.
Final Fatca regulations fail to include draft FFI agreement
Hotly anticipated final Fatca regulations leave industry disappointed and without an agreement for non-IGA FFIs
BoE's Haldane says UK could help redefine global banking rules
Andrew Haldane says UK is in a position to lead with fixes to Basel III, tightening remuneration policies and removing barriers to bank account switching
CLS squares up to member onboarding challenges
Having added Swedbank and Lloyds as settlement members in the past two years, CLS has committed itself to further expanding its membership and its currencies
US firms returning to iron ore derivatives after SGX and CFTC clear regulatory obstacles
The CFTC’s no-action relief letter issued late last year and SGX’s upcoming iron ore futures contract have ended uncertainty and brought back hesitant market participants
Global liquidity flows threatened by Dodd-Frank provision on foreign banks
Japanese banks criticise proposed US regulation of foreign banking entities
People: Credit Suisse reshuffles its global pack
Credit Suisse reshuffles the global pack
JP Morgan report confirms RWA reduction led to CIO loss
A misguided plan to reduce Basel 2.5 RWAs and a series of management failures combined to leave JP Morgan’s chief investment office with a $6 billion loss, the bank finds
DTCC threatens lawsuit over CME SDR plan
Depository Trust & Clearing Corporation could take legal action to stop proposed rule that would force CME clearing customers to report to its own SDR
Railroad indexing to API 2 could help US coal exporters manage risk
Link to API 2 could make exports look more attractive and reflects growing participation in coal market by US firms
HKMA warns banks not to weaken liquidity profile to benefit from LCR phase-in
Hong Kong regulator to consult banks on new LCR this quarter and assess level playing field implications before deciding on whether to adopt a phased approach
Mariner absorbs Concordia as hedge fund consolidation gathers pace
Concordia Advisors, which manages around $1 billion in relative value-oriented interest rate, credit and equity strategies, is to merge with $10 billion hedge fund Mariner Investment Group.
No penalties for JP Morgan over $6 billion risk management failure and AML shortfalls
US regulators issue penalty-free consent orders, while the FSA promises investigation
Sidecar capacity set to grow as capital market investment increases
Third-party solutions increasingly sought by firms seeking reinsurance and retrocession
High-frequency trading improves market quality, study finds
Study disproves commonly held negative perceptions of HFT
Final Fatca regulations must provide clarity, experts warn
Industry hopes for more detail and draft agreements later this month
Undeveloped Asian capital markets continue to make hedging difficult
A lack of liquidity is still providing problems for corporates looking to hedge – even in Hong Kong
HKEx to start OTC clearing in April
The Hong Kong bourse is set to start OTC derivatives clearing in April and is planning to expand its cross-asset derivatives offering over the next two to three years
Opening up of China market will not deplete Hong Kong RMB liquidity
The renminbi deposit base in Hong Kong banks will not face depletion even as investors have more ways of remitting the currency back to mainland China, say speakers at the Asian Financial Forum
Northern Trust to shadow BNY Mellon at Bridgewater
Northern Trust appointed to replicate middle- and back-office functions of existing administrator BNY Mellon at $140bn hedge fund
Futurisation forces hundreds of traders to sit exams
Swaps-to-futures switch at Ice – plus hedge fund regulatory changes – behind threefold jump in numbers taking futures trading exam
Lawyers question Eiopa’s powers to soft-launch Solvency II
Authority promises guidelines on early implementation of risk governance and Orsa rules, but some doubt remains
Risk awards 2013: Credit Suisse wins top house
Swiss bank recognised for reshaping its trading businesses in 2012, as Risk publishes its fourteenth annual awards