Risk magazine
Italian financial transaction tax under scrutiny
When in Rome
Extraterritorial clash continues for clearing houses
While the Group of 20 nations want to see progress with financial regulatory reforms, individual authorities around the world are reluctant to relinquish domestic sovereignty over standards for central counterparties. Luke Clancy reports
Risk Johannesburg: JSE ‘monopoly’ hurts liquidity, says Investec exec
Regulators should open up listed derivatives market by encouraging dealer liquidity pools, algo trading expert tells conference
Bloomberg threatens to sue CFTC over swap futures margin
Futurisation sparks struggle between exchanges and Sefs. Bloomberg fears "irreversible harm"
Risk Johannesburg: OTC data fragmentation prompts concern
South Africa's financial stability head warns it will be difficult to make use of data spread across multiple repositories – but South Africa may still set up its own database for rand-denominated trades
Mandate Watch: Citi, SGSS and BNY Mellon win mandates
Outsourcing drives mandate growth
Top 50 Global Custody Mandates Survey 2013
BNP Paribas leads the way in global mandate survey
SEC's last-minute CDS margin fix sparks buy-side anger
Stop-gap margin solution would force most firms to post twice as much collateral as CCP members
New York Fed demands better management of FX risks
Greater use of capital and collateral to mitigate all risks relating to foreign exchange trading is crucial, warns head of financial market infrastructure at the New York Fed
Mooted VAR substitute cannot be back-tested, says top quant
Basel Committee should stick with VAR, argues Paul Embrechts of ETH Zürich
SEC slammed for CDS cross-margin hurdle
CDS users face collateral hike because SEC rule means clearing members are not yet able to offer CDS cross-margining to their clients – but there are hopes of a last-minute exemption
First person: Section 871(m) amendment favours single-stock futures
What does the future hold?
Zombie firms are first Dodd-Frank major swap participants
Only registrants to date are MBIA and Cournot Financial Products – firms that have not traded derivatives since 2008
White paper: How the right trade modelling platform can enhance performance and reduce risk
The success of a trading company's value chain relies heavily on modelling platforms that can perform an array of tasks such as developing forward curves and calculating risk sensitivities effectively. As a result, these models need to provide a set of…
Bank capital models need more consistency: OCC's Pasch
Regulators planning follow-up to trading book study that revealed huge variation in modelled RWA numbers
Clarity call for trade repository reporting
Quotes of the quarter
Interview: Esma's Steven Maijoor
Esma: on parliamentary pushback and extraterritoriality
De Larosière slams US protectionism and EU Solvency II rules
Former IMF and Banque de France chief Jacques de Larosière says the introduction of a swath of new regulations in Europe may jeopardise the continent’s growth
Europe edges towards three-pronged CVA exemption
CRD IV set to exempt trades with corporates, sovereigns and pension funds
CFTC's Gensler: Industry is ready for March 11 clearing deadline
Preparations are "running very smoothly" says CFTC chairman, ahead of first clearing deadline
White paper: Emerging themes 2013: A clean sweep for financial regulation?
An incessant torrent of regulation, divergent approaches by different regulators and the practical difficulty of ensuring compliance by employees spread across different locations have created major challenges for senior management in the financial…
White paper: EMIR - what are the margin requirements for uncleared OTC derivatives?
Key questions in the European Market Infrastructure Regulation (EMIR) include will there be universal initial margining, how will it be calculated, will thresholds be permitted, what will count as eligible collateral, will letters of credit be included…
Esma urged to flesh out trade reporting rules
The first mandatory reporting requirements in Europe could begin in July, but more detail is needed on how the system will work, market participants say
Active funds list causes furore
Listed firms complain about breach of confidentiality – others say they are victim of human error – after Risk publishes list of fund managers that face March 11 clearing deadline