Crackdown on risk budgets: Trader sign-off on revaluing data must end, says industry body

No official advice currently addresses the problem, which can mean banks’ trading groups have ultimate veto on purchasing independent data or risk systems proposed by risk managers to mark traders’ options books to market.

"Risk management - for the oversight function at least - should be funded independently," David Koenig, chair of the board of directors at Prmia, told FX Week. "Budgets should be set at executive level, not at business-line level."

Koenig said that some institutions had

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Next-generation technologies and the future of trading

At a Risk.net webinar in association with capital markets technology provider Numerix, panellists discuss the potential for increased adoption of the public cloud to boost investment performance, its impact on risk management and overcoming barriers to…

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