News
EC signals staggered entry for Mifid II trading obligation
Rules for derivatives may take effect after January 2018 to allow for US equivalence deal
Closer ties between banks could mean more risk-taking
Model points to risks of core-periphery structure
People: SGX’s new fixed-income origination head
Plus: ANZ Taiwan CEO; DBS Private Bank hires Ioannou; global risk head for ADS Securities
Bond ETFs ‘a source of liquidity’ in stress events
ETF volumes jumped after US election, while bond volumes remained constant
FCA urges progress on equivalency for derivatives trading
US and EU regulators should base recognition decisions on outcomes, not technical details
Giancarlo: March VM deadline is ‘massive challenge’
CFTC commissioner calls on regulators to address buy-side concerns if needed
UK banks under pressure to use IFRS 9 in stress test
Banks unable to calculate impairments under extreme scenarios must answer to regulator
Deutsche Bank loses EMEA clearing head
German bank has seen a string of departures from its clearing business
Risk retention ‘substantially diluted’ for STS proposal
Parliament compromises to pass STS securitisation proposal, but industry is still pessimistic
Indonesia urged to go further to build hedging market
Banks warn that bringing call spreads onshore is not enough and could produce distortions
Mixed views on Dodd-Frank rollback
No need to dump central clearing and electronic trading mandates, market participants say
Isda touts CSA standardisation in margining countdown
But scale of challenge becomes clear in early tussles between dealers and clients
Isda Amend faces rival in CSA repapering effort
AcadiaSoft to launch new tool in January, but protocol approach attracts wider criticism
People: Deutsche’s Leake heads to Goldman
Gill departs CME; Mizuho bolsters quant ranks
CSRC: commodity futures speculation not moving spot prices
Eye-watering one-day moves on China spot commodity markets due to “supply and demand”
FRTB survey: banks fear high bar for P&L test
One bank expects all of its desks to fail the P&L attribution test
Singapore fines two foreign banks for 1MDB-related breaches
Investigations continuing into Goldman Sachs’ role, regulator says
US banks fear margin rules could hit emerging Asia liquidity
Unequal margining requirements may be a turn-off for local counterparties
R3 banks disagree over DLT implementation
Blockchain consortium confident it can raise $150 million by next summer
Market expects Holdco CDS switch for iTraxx index
TLAC-driven issuance changes likely to see UK and Swiss holding company CDSs included in iTraxx Financials
Buy-side Awards 2016: The winners
ICI is best pension fund; Rothesay named top insurer; Vanguard wins asset management risk manager award
VM regime threatens explosion of small margin calls
Transfer threshold designed to avoid small payments is unworkable, critics claim
Basel still pushing for capital model floors
Bank treasurers call plan to underpin internal models with standardised floors “unmanageable”
EU could impose negative rate shocks via IRRBB rules
Banking Book Risk Summit: EBA guidance on shocks is “outdated”, says ECB official