News
Hong Kong lawmakers to enforce mandatory CCP by the end of 2012
Hong Kong joins Japan in mandating central counterparty clearing for OTC derivatives with CCPs and a central repository expected to be set up in the coming months.
Seed capital for hedge funds set to hit $5 billion in 2011
Blackstone, Skybridge Capital, NewAlpha Asset Management and Revere Capital are all raising funds
Brazil’s Tombini sets out inflation fighting credentials with calls for lower target
Central Bank of Brazil governor says country’s inflation target should be similar to those of other leading emerging market economies
Debt protection cost on Irish financials increases over holidays
CDS spreads for Irish banks widen over holiday period, while peripheral EU states remain steady
Insurers ring changes in Asian businesses
Axa, Manulife and Prudential all make changes in management of subsidiaries in key growth market for 2011
Swiss exchange-traded funds hit record highs in 2010
While the rest of the market saw moderate growth or falls, ETFs fared well last year according to the Six Swiss Exchange and Scoach.
Nomura appoints Asia-Pacific head of equity derivatives trading
Japanese firm names El Khoury for Hong Kong-based equity derivatives role
Stoxx climbs onto emerging markets bandwagon
Stoxx climbs onto emerging markets bandwagon
FTSE collaborates with CSE on Moroccan index launch
FTSE collaborates with CSE on Moroccan index launch
S&P launches risk control indexes to attract risk-averse investors
S&P launches risk control indexes to attract risk-averse investors
Aegon looks to cost of capital to price optionality in VA liabilities
A proposed new modelling framework from the Dutch insurer's US arm uses cost of capital in an analogous role to the market price of risk in traditional pricing theory to value long-dated options embedded in VA liabilities
Stoxx licenses Europe Christian index to serve as ETF for Deutsche Bank
Stoxx has licensed its Stoxx Europe Christian index to Deutsche Bank, allowing investors to gain exposure to the underlying in ETF form.
Bank of America sues ex-workers for theft of trade secrets
Bank of America sues ex-workers for theft of trade secrets
Separate trials set for Rajaratnam, Chiesi after FBI insider-trading crackdown
Trial dates set for Rajaratnam, Chiesi
UBS, HSBC and JP Morgan face suits over 'willful blindness' on Madoff
Three banks accused of 'willful blindness' about Madoff
Bank of America settles for $137 million over municipal bond auction fixes
Bank of America settles for $137 million over municipal bond auction fixes
Ex-Goldman programmer found guilty of code theft
Ex-Goldman programmer found guilty of code theft
FSA fines Aegon UK £2.8 million for multiple control failings
FSA fines Aegon UK £2.8 million for multiple control failings
Legal adviser to Kenneth Starr charged by SEC with aiding fraud
US SEC goes after Kenneth Starr’s lawyer
Unrealistic pricing expectations impede development of longevity swap market
Price expectations have played a crucial role for the relatively small number of longevity swap deals that have so far been completed
Changing Hats, January 2011
Changing Hats
Cebs offers advice on changing AMA models
Cebs offers advice on changing AMA models
Failed transactions render banks illiquid says consultancy
BPG: Failed transactions render banks illiquid
EU plans to standardise sanctions welcomed, but 'impractical'
EU plans to standardise sanctions welcomed, but 'impractical'