News
S&P shutters NMRF solution amid audit questions
Vendors face adverse economics due to low number of IMA banks and prospects of regulatory easing
Korean autocalls to make comeback, with ‘smaller pie’ for banks
As equity-linked autocallable channels look set to reopen, new rules could limit market’s revival
Row breaks out over cause of FX settlement fails
One European bank blames T+1 for a 50% jump in FX fails, but industry groups dispute the claims
XTX alleges Currenex entered own trades ahead of users
Market-maker claims venue used triangular arb tool to trade before users
Investors ignore ESG scores when hedging climate risks – Engle
The ability to withstand uncertainty matters more than green credentials, says Nobel laureate
People: BNY taps Nasdaq CRO for enterprise risk role, Hoornweg steers StanChart CIB solo, and more
Latest job changes across the industry
How EU supervisors react to interest rate risk outliers
Banks have faced no automatic penalties for breaching new NII test, but do come under microscope
EC mulls blanket FRTB multiplier
Leaked doc includes bank-specific or industry-wide relief on impact of new EU market risk rules
BlackRock and DRW execs bullish on tokenisation potential
DRW’s Don Wilson expects every instrument to be traded on-chain in five years’ time
US hedge funds eyeing JSCC after regulations eased
FCMs see strong interest and expect funds to start clearing yen swaps before year-end
BoE plans system-wide test on private credit risks
Bank aims to probe market after First Brands and Tricolor collapses raise alarms about subprime lending
CFTC sprints to approve spot crypto trading by year-end
Acting chair Pham also expects tokenised collateral to be up and running by then or early 2026
Industry groups call on EC to delay foreign CCP reporting
Trade bodies seek to prevent late-running rules causing duplicated implementation projects
ANZ’s FX forwards surge with Pimco
Counterparty Radar: Australian bank becomes top counterparty to the asset manager after huge jumps in cable and EUR/USD
Credit Suisse AT1 ruling may only benefit a third of bondholders
Swiss law may mean only bondholders who appealed writedown get compensation, if there is any
How US hedge funds won big on permission to clear at JSCC
But CFTC no-action letter won’t allow netting of Japanese trades with those cleared at US FCMs
Basel III alone won’t be capital neutral, says Fed official
Endgame may raise requirements, but will be offset by changes to G-Sib and stress capital buffers
Market awaits GMRA green light after China repo relaxation
Icma reviewing new PBoC rules and “potential implications” for GMRA eligibility onshore
No quick fix for Treasury issuance surge – fixed income experts
Market’s ability to absorb additional $3.4trn of notes is keeping senior regulator “up at night”
Real money rides the hybrid options wave
Insurers follow hedge funds into exotic trades with equity-down, yields-down recession plays
Changes to Fed’s G-Sib surcharge imminent, says Bowman
Stress test consultation will come first, eSLR will follow, Basel III endgame will take longer
Fed official dismisses de-dollarisation talk
Speakers at IIF conference believe dollar selloff is cyclical rather than a structural decline
LSEG readies hard matching on forwards venue
Forwards Matching eyes Q4 start for new function that enables faster credit checks
Reluctant farewell to CFTC’s clearing house recovery guidance
Market participants say withdrawn 2016 letter gave clarity to CCPs; replacement may be needed