United States
BrokerTec dominance ‘unhealthy’, says Nasdaq’s Shay
More clearing needed to improve US Treasury competition
Is wholesale banking disruption-proof?
Fintech threatens market-making, research and wealth management, writes eCo Financial Technology CEO
Robo-traders and robo-labour
Banks and buy-siders are starting to harvest the benefits of machine learning beyond the front office
Banks seek escape from inter‑affiliate margin burden
Internal transactions contributing “substantial” amount of banks’ initial margin requirement
Fears of fragmentation over Basel shadow banking rules
Step-in risk guidelines could be taken more seriously in the EU than in the US
Critical Mass: why US Treasury swallowed unloved Volcker rule
Bank prop trading ban drafted in a lunch break after Democrat defeat in Massachusetts
CFTC counsel warns of threat to clearing portability
Leverage ratio seen as biggest impediment to porting client positions
US shale fluffing its feathers in mating dance with banks
Cash-addicted producers are making greater use of hedging to attract loans
People: CFTC picks enforcement and legislative affairs chiefs
Other changes at Eni, Societe Generale, Danske Commodities, Glencore, Global Coal, Six plus more
Mnuchin: FSOC working on revised Volcker rule
US Treasury secretary wants revamp of prop trading ban; not repeal
Fed’s Powell joins chorus of Volcker rule critics
Governor seeks to simplify rule banning prop trading
Volcker fights back as prop-trading ban comes under attack
Former Fed chair tells Risk.net that calls for total overhaul of eponymous rule are misplaced
Who wants to be a forecaster?
Forecasting gas storage levels is an ugly, thankless – but essential – task
Esma turns the screw on direct electronic access
Guidance thwarts narrower definition adopted by Eurex to help third-country clients
Mortgage and auto loan securitisations inflict op risk losses
Megan van Ooyen from SAS rounds up the top five operational risk losses for March 2017
Model risk managers eye benefits of machine learning
Ramp-up in regulatory scrutiny of model validation sees banks turn to black boxes
Buy side fuels boom in single-name CDS clearing
Ice single-name CDS volumes double year on year following switch to semi-annual rolls
Congress urged to curb Fed’s regulatory powers
House hearing revives debate on consolidating US regulatory agencies
Ice to clear single-name bank CDSs from April 10
US participants will be able to start clearing CDSs referencing Ice clearing members
Fed funds-linked swaps outstrip Libor for first time
Banks point to money market reform, Libor changes and Fed expectations as catalyst
Feet of Clayton
New SEC chairman split between presidential deregulation agenda and filling holes in existing rules
Transparency premium: insurers seek swaps reporting reform
US insurers claim their bespoke swaps are being front-run, raising hedging costs
Ice rule change will see members post more cash
Changes pinned on CCP’s lack of access to Fed deposit account
Regulatory blitz weakening model risk management, say banks
Smaller banks’ modelling practices under growing scrutiny, but ability to comply is stretched