News
Video: Have ETFs developed beyond simple index trackers into complex products?
"Are ETFs complex financial instruments", is the first question in a series of videos from Structured Products magazine that address the world of exchange-traded funds. As regulators and observers try and come to grips with losses inflicted on UBS by an…
Brokers welcome Iosco commodity derivatives supervision principles
The recommendations of global regulators to harmonise commodity derivatives regulation have received praise from brokers for not trying to divide 'speculation' from 'hedging'
Sovereign debt crisis undermines LCR, critics say
Bankers at Eurofi conference in Wroclaw, Poland call for a wider range of assets to be eligible for Basel III's liquidity coverage ratio
Shell Energy chief calls for regulatory data confidentiality rules
The confidentiality of energy trading data provided to regulators for market monitoring purposes continues to concern market players and regulators alike, after August leak by senator Sanders
On the move
On the move
Market volatility may have brought UBS losses to light
The revelation of rogue trading at UBS follows a period of market volatility. That is nothing new, say risk managers
Credit Risk USA: Basel trading book regime attacked by dealers
CVA charge and Basel 2.5 rules incoherent and over-complicated, say dealers
UBS rogue-trading losses reopen old wounds
The $2 billion loss, a second public incident in three years, undermines faith in UBS's internal controls
CRD IV proposals do not deviate markedly from Basel III, says EC's Faull
Jonathan Faull dismisses suggestions CRD IV will lead to uneven application of Basel III
ICB bail-in proposal revives CDS fears
CDS contracts would not trigger in the event a bail-in bond is written down, say lawyers – threatening their use as a hedge
SG and Crédit Agricole CDS spreads tighten despite downgrade
Traders say decision by Moody’s was already priced in as major French banks escape CDS blow out
SGX consults on derivatives clearing reform
The Singapore Exchange has proposed amendments to limit the liabilities of its members on exchange-traded and over-the-counter derivatives
Citi reveals dedicated quant investment strategies group
The shake-up at Citi now incorporates a new group, which will specialise in providing indexes and strategies
BlackRock names McCombe as Asia-Pacific chairman; Fung named as CEO of HSBC Hong Kong
BlackRock has hired HSBC veteran Mark McCombe to succeed Rohit Bhagat as chairman of Asia-Pacific. Anita Fung, most recently head of global banking and markets for the Asia-Pacific, named chief executive of HSBC in Hong Kong
Asian reinsurance costs soar by up to 40% due to natural disaster payouts – Moody’s
A number of major natural disasters during the past year has increased reinsurance costs in Asia, with some Japanese insurers seeing a rise of 20% or more in the cost of reinsurance. But demand for reinsurance is still growing, according to Moody’s…
CFTC 'needs to do better job' of weighing Dodd-Frank costs, says O’Malia
CFTC commissioner says agency received a wake-up call when one SEC rule was booted out by the US appeals court
Give-up agreement can survive CFTC attack, Isda event told
Despite a CFTC proposal that attacks an industry clearing document, the core of the text can survive, says lawyer at Isda's New York conference
Quantitative finance "not a theory", says Derman
Emanuel Derman criticises the increasingly abstract and mathematical nature of quantitative finance
ICB capital levels would hurt UK banks, critics say
Report recommends a worst-case capital level of 22.5% for large ring-fenced retail banks and UK-headquartered systemically-important banks
Hellman & Friedman to buy OpenLink
New-York-based commodity software firm OpenLink has announced its owners The Carlyle Group will sell it to a US private equity firm
Nordic region sees surge in securitised derivatives and structured product issuance
Market volatility and increased competition in Nordic markets drive trading spike in securitised derivatives and number of structured products
Mifid draft resuscitates CCP open access battle
CCP open access debate rears its head once again in draft rules spun out of Mifid
US Treasury lifts sanctions on Libyan oil subsidiaries
OFAC removes ban on transactions with several Libyan oil company subsidiaries
UK's ICB report a further complication for banks
The ICB's final report gives banks another layer of capital requirements to deal with