News
Oil market faces tight deadline for Ice Brent protocol
As Ice prepares to shift Brent expiry calendar on December 6, Isda releases protocol to enable orderly transition of OTC market
Regulators clash on Mifid waivers
Some regulators and brokers have expressed fears that exemptions included in Mifid may mean European rules on trade execution are not equivalent to the US – but a key parliamentarian disagrees
European FoHFs celebrate outstanding performance
Despite a challenging environment for European fund of hedge funds, many have bucked the trend. The 12th European FoHF Awards 2013 recognised the achievements of a wide range of asset managers
Massad to replace Gensler as CFTC head, and other recent job moves
Changing hats – December 2013/January 2014
Volatility indexes are poor hedge against tail risks, say managers
Systematic indexes become expensive "just when you need them", portfolio manager
Winners announced for Custody Risk European Awards 2013
The winners of the Custody Risk European Awards 2013 were unveiled at an awards ceremony in central London on November 20
Projected cost of rate hedge mis-selling rises
Latest FCA figures show first stage of mis-selling review almost finished, but payouts rising and may hit £1 billion
CCPs face $161 billion liquidity shortfall to clear FX options, GFXD finds
Results of an industry study reveal the scale of the liquidity burden that would fall on CCPs clearing physically delivered forex options – but a net settlement mechanism could reduce the number by 73%
Study casts doubt on mandatory futures insurance
Mandatory insurance for assets held by futures brokers would be extremely costly, concludes industry-backed report
JP Morgan agrees record $13 billion settlement with DoJ
Settlement resolves civil claims over residential mortgage-backed securities
Chinese securitisation market risks fragmentation under current dual framework
The existence of multiple rule books may deter issuers and investors in securitisation
Equity inflows boost ETF assets by 19% to hit record highs
Assets in exchange-traded funds reached an all-time high of $2.319 trillion in October, with three firms – iShares, State Street and Vanguard – accounting for 70% of the total
FX industry calls for changes to benchmark practices
Ongoing investigations into manipulation of forex benchmarks have led to calls for changes to the way the WM/Reuters exchange rates are used
Asian dealers 'disappointed' by CFTC clarification of footnote 513
CFTC makes clear swaps between non-US swap dealers and non-US clients will be caught by Dodd-Frank if they are arranged, negotiated or executed by US personnel
Swedish insurers to suffer capital hit as regulator approves rule changes
Calls to delay December implementation fall on deaf ears
Bloomberg, MarketAxess, Tradeweb not complying with Sef rules - Gensler
Sefs "have to come into compliance" with Dodd-Frank rules requiring platforms to provide impartial access, says CFTC chairman
Futures data will be useless to regulators without reporting delay, Esma warns
Esma responds to EC's 'intended rejection' of one-year postponement
Structured products benefiting from Dubai's safe-haven status in Middle East
Dubai's reputation as a regional safe haven, together with a relatively relaxed regulatory regime, is helping flows into the UAE
Insurers demand clarity on Omnibus II
Equivalence, credit risk adjustment and details on level 2 text urgently needed, say top insurance executives
European clearing mandate likely to start in 2015 – Risk.net poll
Clients aren’t expected to be subject to a clearing mandate until 2015, according to a Risk.net poll
Control weaknesses continue to plague banks
The primary concerns for operational risk managers in 2014 include data theft, index rigging and reputational risk, but many have one thing in common – weak internal controls
Volcker rule start date could be delayed
Final rule could provide blanket relief of up to 12 months, says source
RBS agrees to sell £175bn structured product portfolio to BNP Paribas
BNP Paribas wins bid to acquire the multi-billion-pound structured products portfolio put up for sale by Royal Bank of Scotland
Omnibus II agreement puts Solvency II back on track
More generous long-term guarantees package and long transitional period in deal