Risk magazine
Futures data will be useless to regulators without reporting delay, Esma warns
Esma responds to EC's 'intended rejection' of one-year postponement
Time for a timer
Time for a timer
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
Volcker rule start date could be delayed
Final rule could provide blanket relief of up to 12 months, says source
Italy follows Ireland in retaining AFS bond filter
Banca d'Italia proposes to allow its banks to ignore some government bond volatility
Bill Clinton says failure to reform OTC markets earlier was a "real mistake"
Speaking at Sifma AGM, former US president says OTC market should have been forced into collateralised regime before 2008 crisis
JP Morgan names new divisional CFOs
The US bank appoints David Hudson as global markets CFO, while Mike Santomassimo is named banking and risk CFO
Ice members split over new client clearing model
Dealers fear mutualised exposure in 'sponsored principal' model
Sefs face major delays in operating outside the US
Despite an overseas person exemption that allows recognition of CFTC-approved swap execution facilities in the UK, Sefs could face significant delays before they can legally operate in other non-US jurisdictions
FX market faces challenges to meet Emir start date for trade reporting
Mandatory trade reporting for all asset classes will begin on February 12, but the forex industry is still grappling with the challenges of dual reporting
FCMs stunned by $1.75 billion client buffer at Credit Suisse
Swiss bank is tying up too much capital in immature business, rivals claim, after new NFA data shows it to be an outlier
End-users push back on termination rights delay
Derivatives end-users are pushing back on regulator demands to include temporary stays on termination rights linked to bank resolutions
Experts split on MAT determinations
Rules allowing Sefs to make available-to-trade determinations continue to cause concern, but some think an aggressive approach is justified
Fed discount window could resolve CCP collateral liquidity concerns, say clearers
US regulatory concerns about liquidity of government securities collateral could be resolved by access to the Fed’s discount window, CCP officials say
Sefs have work to do on impartial access - Gensler
Some Sefs are not offering equal terms to all market participants, CFTC chairman tells industry conference
CME threatens to flee US as regulators challenge liquidity of US Treasury collateral
US CCPs may need committed funding to count US Treasury collateral as liquid
Osfi copies US CVA charge to protect Canadian banks
Canadian regulator wants its banks to compete on same terms as US rivals
In-depth introduction: Government bonds
Central bankers and supervisors want to break Europe's bank-sovereign feedback loop. Politicians don't seem so sure
French life insurers face lapse risk hedging problems
French life insurers have to pay back their customers at the drop of a hat – an exposure that rises in tandem with interest rates, as customers seek better returns elsewhere. But with the industry’s traditional hedge for this risk now too pricey,…
Bank initial margin posting raises liquidation concerns
Initial fears
Bravery, creativity and a lot of money: How to cure the eurozone
Politicians may be unwilling to consider it, but the eurozone’s problems could be solved through a slight twist on debt monetisation, argues Marcello Minenna
People: UBS beefs up US equity derivatives team
Americas EQD business gets new head and new head of sales; Higgins joins RBS as head of European fixed income; Nomura adds staff across Asia; four equity flow hires at SG CIB
Cutting Edge introduction: systematic systematic factor models
Credit factor models tend to obscure the economics in favour of tractability – and this puts them at odds with rigorous arbitrage-free martingale pricing methods. To resolve this, quants are looking more closely at what a systematic risk factor actually…