Risk magazine
CFTC still facing tough to-do list
Regulator has finalised 39 rules but 14 remain at proposal stage - including six that have been outstanding for more than 500 days
Risk reaches 25-year anniversary
In celebration of our 25th anniversary this year, Risk re-publishes a landmark article by Fischer Black, offering a critique of the Black-Scholes model
Industry unmoved by death of minor-currency Libor
The Wheatley Review calls for an end to Libor quoting in five currencies, but the number of trades affected is small – a good thing, because the available solutions are flawed, say market participants
Custody Risk announces shortlist for European Awards 2012
The shortlist has been announced for the Custody Risk European Awards 2012
FX Week Asia: Exemptions offer little solace for corporates
Corporate treasurers remain concerned about increased hedging costs as a result of new regulation, and expect banks to pass the costs on – despite exemptions for corporate hedging
FSA forces UK banks to assume higher sovereign losses
Behind-the-scenes clampdown sets loss-given-default floor at 45% – and could make UK bonds less attractive
Concerns raised over Basel settlement risk guidance as consultation closes
The revised guidance on managing settlement risk could distort the forex market if implemented inconsistently, but should ultimately lead to greater use of CLS, say market participants
CFTC’s clearing timeline prompts backloading "meltdown"
A re-reading of the CFTC's phase-in rules for central clearing is prompting alarm among buy- and sell-side firms
Sponsored webinar: Data management and regulatory reporting
A panel of experts discuss the challenges posed new regulation - and in particular, those relating to data collection and reporting
Basel 2.5 behind JP Morgan’s CIO trading loss
Rehedging mechanism within the comprehensive risk measure allowed JP Morgan to reduce risk-weighted assets while increasing market risk, claim industry experts
Quant Congress Europe: FVA ends ‘Platonic price’, says Brigo
No going back from FVA, says Imperial College professor – and other speakers at the conference agreed
Quant Congress Europe: Quants should take share of blame for crisis
Quants should take their share of the blame for the crisis, and should focus on less mathematically complex models, said some panellists – although not everyone at Quant Congress Europe agreed
Quant Congress Europe: Collateral choice will cause price fragmentation, says Piterbarg
Ability to choose eligible collateral within CSAs means unique prices for the most vanilla derivatives could become a thing of the past, says Vladimir Piterbarg
Time running out for buy-side clearing docs negotiation, dealers warn
Buy-side firms need to begin negotiating OTC clearing documentation now or risk being forced to adopt one-size-fits-all standard templates
Risk South Africa Rankings 2012
Regulation frustration
Banks struggle to build FX as liquidity slows
Falling levels of forex activity, particularly among institutional clients, have made it difficult for banks – particularly the newer entrants – to beef up their forex businesses,
People: New roles for Amrolia and Rodgers in Deutsche reshuffle
Markets group at Deutsche gets new cross-asset electronic trading unit, led by Zar Amrolia; Knight Capital responds to rogue algo loss by naming new CRO; listed derivatives co-head leaves Morgan Stanley; Nomura loses Fares, names Downey sole head of…
RIP OTC: Swap futures gaining buy-side fans
RIP OTC: Swap futures gaining buy-side fans
Section 716: The do-nothing approach
The do-nothing approach
Indirect clearing: The capital conundrum
Draft European Securities and Markets Authority rules on indirect clearing caused uproar when they appeared in June. The regulator removed the most controversial elements in its final text, but dealers are still in the dark about the capital treatment…
JP Morgan and the CRM: How Basel 2.5 beached the London Whale
It’s the untold story of JP Morgan’s credit trading losses – how traders were able to reduce risk-weighted assets while loading up on risk, and the part played by Basel 2.5. Michael Watt reports
The power behind the throne: CME and the fight for futures market supremacy
It’s the biggest futures exchange in the world, so CME Group naturally has both friends and enemies. Some of its friends are very well connected – and some of its enemies claim this influence has been used to stifle competition, allowing the exchange to…
