Risk magazine - Autumn 2009

A regulated new year

Regulators are widely expected to increase their oversight of the financial sector in the coming year, with derivatives likely to come under particular scrutiny. As part of the current series of Class Notes articles, Charles Smithson and Steve Allen…

Adapt or fail

Since October last year, ructions in South Africa's foreign exchange rate have caused offshore hedge funds to exit the market, while dealers have been reluctant to take on risk. Those that remain active have had to adapt their behaviour as a result. By…

Rainy day funds

Exchange-traded funds (ETFs) have continued to gain traction in South Africa despite roiling markets. As a result, local ETF providers are extending their reach to new investors and asset classes - with some even looking to introduce exchange-traded…

Bonding exchanges

The Bond Exchange of South Africa has been taking tentative steps towards expansion since its demutualisation in 2007. Now, its future looks intimately intertwined with that of its former rival, the Johannesburg Stock Exchange. Mark Pengelly reports

A time for special FX

Dealers are beginning to think a lot more seriously about credit-adjusting the prices they quote on foreign exchange derivatives. How are they calculating this, and how are clients responding to the move? By John Ferry

Mastering the storm

The succession of credit events in September and October revealed that many investors did not know what to do in the event of a default of a counterparty. What recourse do parties have under the Isda master agreement? By Joshua Cohn and Jillian Ashley

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