Banks say threat from rogue algos outstrips that of human traders
High-profile critics of op risk capital rules are misguided, say Ariane Chapelle and Evan Sekeris
Former rogue trader says new UK rules could "change the way people look at risk"
Lack of commonality in rogue traders adds to the risk banks face from within
ETF providers have dismissed claims losses allegedly caused by an ETF trader demonstrate the instruments are risky
The revelation of rogue trading at UBS follows a period of market volatility. That is nothing new, say risk managers
Citi shakes up structuring group
New lows in gilt yields following last week's spending review have been seen by some analysts as a vote of confidence in the UK government's austerity plans. Other observers, however, say they reflect something else entirely.
Hedges funds have grappled with poor performance during the past two months after global stock market tumbled, with investors parking their money in cash as the Greece sovereign-debt crisis weighted heavily on Asian markets
Baring Asset Management, the London-based investment management firm, has appointed Marino Valensise as chief investment officer.
Morley Fund Management, the London-based subsidiary of Aviva Group, has appointed Mark Watts as head of global fixed income.
Nick Leeson, the former options trader who caused the collapse of Barings Bank in 1995, believes there is a "99% correlation" between the events at Allied Irish Bank, National Australia Bank and even Shell, and those at Barings.
Baring Asset Management is doing something that a lot of trade order management vendors and market analysts wish the rest of the financial world would do: after implementing a new third-party order management system to replace its older in-house system,…
New York-based Alpha Investment Management has hired Carcie Rogers to boost its marketing efforts to large financial institutions in the UK and the rest of Europe.
HSBC has appointed Ferruccio Ferrara from Deutsche Bank as European head of FX derivatives marketing.
Stephen Rees has resigned from Baring Asset Management (BAM) to head a new investment process team at UK asset management firm Schroders.
Recent accounting scandals mean international banks should start improving their disclosure of risks and capital adequacy now and not wait for the pillar 3 disclosure provisions of the Basel II bank accord to take effect in late 2006, a senior US central…
Greater precision is needed in defining operational risk, but the Basle regulators' latest thoughts are lost in generalities, says Jacques Pézier, in the final article of a three-part series.
BASEL - Bankers gave a cautious welcome to the further thinking of global banking regulators on their controversial plans to make internationally active banks set aside capital against op risk under the Basel II banking accord.
The year-long delay to the coming into effect of the Basel II banking accord means global banking regulators can study a broad range of advanced approaches to calculating an operational risk capital charge.
Recent operational risk events such as occurred at Barings, Daiwa, Sumitomo, and other institutions show the importance of measuring and controlling such operational risk. In this paper the authors present a quantitative operational risk measurement…
METHODS & REGULATIONS