Operations
Ion: after the hack, the clean-up
Some clients now using Ion systems again, but synchronising data with CCPs could take days
Ion cyber outage continues as banks use workarounds
ABN Amro, Macquarie, RBC among firms hit; ransom deadline tomorrow, but service may be down for days
MMFs’ reverse repos with Fed surged 35% last year
Fidelity-run funds drove 29% of the $601 billion in new trades
Operational risk management solution: MetricStream
Asia Risk Awards 2022
Best operations and back-office solution: SmartStream Technologies
Asia Risk Awards 2022
Is DLT post-trade a solution without a problem?
Sources question landmark projects' ability to use technology at scale as further delay besets ASX deployment
BlackRock calls for blockchain to fix futures processing snags
Asset manager wants industry to move faster in adopting “single source of truth” model
SEC cyber rule could trigger more attacks, experts warn
Mandatory disclosure of cyber risks and attacks could help hackers
Bank consortium seeks to cure post-trade data ills
Project led by Societe Generale uses privacy-enhancing technologies to tackle data management problems
Uncleared margin rules: should only geeks care about initial margin calculation?
Why the consequences of inadequate initial margin calculation should not be underestimated
Isda’s ‘master’ master agreement courts controversy
Single master agreement to cover repo, securities lending and derivatives could bring efficiencies, but many remain sceptical
BNP inks back-office clearing deal with FIS
Vendors jostle to offer collateral management services amid negative rates and shrinking returns for FCMs
Options to mitigate the challenges of index cessation fallbacks and conversion
This has so far been a defining year for index cessation, Isda’s fallbacks protocol and central counterparty conversions. TriOptima insists that now is the time for firms to get their interest rate swap portfolios in order before year-end
The Texas freeze and future calamities – How to build business resiliency in the face of disruption
Adverse weather in February stressed the Texas power grid to the point of failure, leaving millions without power and resulting in many firms filing for bankruptcy. While this event had some unique circumstances, extreme events are becoming more frequent
Top 10 op risks 2021: third-party risk
Pandemic and shift to cloud computing inflame concerns for banks and regulators
Key questions in Libor transition – Q&A with Tom Wipf
In this audiocast, Navin Raunier, partner for risk advisory at consultants TCS discusses recent developments in Libor transition with Tom Wipf, vice-chair of the institutional securities business at Morgan Stanley, and chair of the Federal Reserve Board…
Op risk data: Chronic corruption charges cost Deutsche dear
Also: Wells Fargo fee fight; Nasdaq queers Emir reg; Covid keeps AML fines in line. Data by ORX News
Jumbo Goldman 1MDB fine upends 2020 trend to lower losses
Financial fraud and fat fingers loom large, but annual top 10 op risk losses still show fewer fails. Data by ORX News
Op risk data: Record $920m fine for JP metals ploy
Also: counting the cost of Covid cons; Citi audio dynamite. Data by ORX News
Managing AML and fraud – A risky business needs a risk-based approach
Financial services organisations (FSOs) are expected to meet strict financial crime regulations regardless of their size, and those with smaller budgets and fewer resources are finding this increasingly difficult as regulations, guidelines and threats…
Brevan’s Burgess jumps to outsourcing spin-off Coremont
Aneta Bresliska will replace Jasmine Burgess as Brevan Howard’s head of risk in the US
Op risk data: Outsourcing losses loom in lockdown
Also: Swedbank hit with huge AML fine; record Russia fine for StanChart. Data by ORX News
Dollar funding squeeze eases after March madness
Fed action helps restore equilibrium, leaving fears of quarter-end crunch unfounded
Top 10 op risks 2020: organisational change
New tech has created perennial state of flux in banking, as other kinds of shake-ups continue