News
Confirmation of US Treasury FX exemption brings relief to FX dealers
After two years of consideration, the US Treasury confirmed its decision to exempt forex swaps and forwards from mandatory clearing and exchange trading on Friday evening
Non-financial corporate bonds: the future for structured products?
Using non-financial corporate bonds instead of bank bonds to underpin structured products could encourage more investors to consider them, as it would help diversify the counterparty risk within a portfolio, say industry participants
Australian banks well placed to meet new Apra liquidity reporting standard
Tougher liquidity reporting standards imposed by the Australian regulator won't be a problem for the country's four main banks
On the move
On the move
Risk USA: Citi hopes to revive crisis derivatives product as ETF
Liquidity hedge plan was shelved after Risk article generated criticism. Now it's back, but as an exchange-traded fund
Structured Products Europe: Vanguard's emerging markets switch highlights the need to scrutinise index constituents, say speakers
Vanguard's replacement of an MSCI index with a FTSE index as the underlying for emerging markets exchange-traded fund should remind investors to look carefully at underlying constituents, hears conference
Report blames Corzine’s strategy for MF Global collapse
Chief executive of collapsed broker at fault for risky strategy that destroyed company, House subcommittee says
Structured products market in Greece stabilises ahead of debt sustainability talks
Investors in Greece appear calmer than in May and June, when fears of currency redenomination saw structured product sales surge
CFTC clarification on physical gas deals welcomed
CFTC answers concerns over treatment of physical gas storage and transportation agreements under Dodd-Frank
Dealers working to keep Asian entities outside Dodd-Frank
As the CFTC prepares to finalise its rules on extraterritoriality, some firms in Asia are working to minimise the impact on non-US entities
Calls for Eiopa to clarify non-life cat SCR technical specifications
Specifications unclear on premium volume definition for risk-factor calculation, say actuaries
European Parliament poised to defend corporate CVA exemption
The European Parliament is poised to defend a CVA exemption for trades with corporate and sovereign entities, as negotiations enter the final stages
Risk USA: Cross-border conflicts could leave firms unable to comply
Hedge fund CQS warns US persons definition will make compliance more difficult - or even impossible
Risk USA: CFTC should allow voice trading for Sefs, says Chilton
CFTC commissioner also hints that 15-second rule will be amended - and says final cross-border rules will include a new definition of ‘US person’
Judge tells jurors to be cautious about senior trader’s evidence in Adoboli trial
Jurors are warned by judge to be cautious about John Hughes's evidence on the final day of UBS trial
Risk USA: 'Futurisation' trend could hurt Sefs, says CFTC's Chilton
Sefs could lose out if OTC trading volumes move into listed products, says CFTC commissioner - but he is "comfortable" with decision to approve the CME's new swap future contract
Threat of downgrade hangs over North American power firms
Low natural gas prices, weak power demand and rising costs put pressure on credit ratings
Asia can ease collateral squeeze, says Clearstream chief
The global thirst for high grade collateral resulting from OTC clearing will require Asia playing a greater role in future, according to Jeffrey Tessler, chief executive of Clearstream
Impact on EUAs from back-loading will be muted, say analysts
European Commission proposes back-loading a larger volume of European Union Allowances than expected, yet analysts downplay price impact
Foreign commodity exporters to China seek RMB settlement after US fiscal cliff fears
Foreign commodity firms operating in China are settling via RMB in order to circumvent a potential weakening of the dollar
Risk USA: Buy-side firms rail against European short-selling bans
Rule changes have forced firms – including DE Shaw – to stop trading some equities and credit default swaps
Risk USA: Regulators called on to restrict loan modelling choices
Less modelling freedom makes sense, says loan data expert – and the alternatives would be far worse
Risk USA: "We needed to run a simpler bank," says UBS risk manager
Capital pressures that drove UBS out of fixed income could force other banks to follow suit, says market risk head – and names Société Générale and BNP Paribas as examples
Risk USA: Margin for OTC products is too high, says Pimco's De Leon
New rules would see OTC markets over-margined, while futures may be under-margined - and there could be systemic implications