Opinion/Our take
The spirit is willing, but the drafting is weak
Asking firms to operate in the spirit of the law will not solve Mifid trading venue confusion
Opec learns to love hedge funds
Net long position weakens after cartel announces change in attitude to price drivers
Blockbuster banks eye Netflix success
Incumbents have big ideas – but lots of baggage
Emerging cyber threats share a familiar root cause
Whether in banking or energy, most cyber breaches start with human error
What is the economic value of FVA?
To end the funding valuation adjustment debate, this key question needs to be answered
Brexit and financial regulation: a delicate negotiation
The UK needs access, the EU needs regulatory data, but a mutually beneficial deal could be elusive
The hazards of toothless transparency requirements
Giving management the freedom to do what it wants may not improve the energy industry's reputation
Why XVAs need to be factored into options pricing
Ignoring valuation adjustments could be storing up problems for the future
Thirty years of Risk magazine
Special features will look at the future of bank technology, quantitative research, risk transfer and regulation
‘Reauthorising’ CFTC could alter firms’ attitude to EU position limits
If Commodity End-User Relief Act is passed, it could mean substantial industrial change in US – and Europe
Don’t keep up with the Kardashians
Dealers may have gifted the buy side an information edge
Margin model keeps testing the limits of industry co-operation
Simm supporters say it is a work in progress, but more participants may slow that progress
Why liquidity risk is the silent clearing killer
A quant paper shows feedback effects can amplify CCP margin requirements in stressed markets
Why risk aversion should be built into product structuring
Irrational behaviours that creep into product structuring can be controlled mathematically
Auditors: the extra line of defence
If CDS skew spikes, some banks may be thankful for conservative accountants
See the error of your VARs
Commonly-used VAR estimation method shown to underestimate risk
A referendum on clearing
Brexit margin calls show swaps CCPs are relying on funding strength of a handful of banks
Regulators struggle to conjure the right leverage ratio
Too low, and it has no effect; too high, and liquidity suffers. Time for flexibility?
Taking aim at efficient market theory
Winton founder David Harding slams ‘weak’ theoretical basis for alternative beta
Swaps market mutation could replace managed change
Banks are finding it harder to control the future of the swaps market – that's no bad thing
A conflict resolution strategy for capital allocation?
A recently proposed method for capital allocation has the potential to resolve internal disputes
Why Europe's insurers can't stop buying bonds
Solvency II has pushed firms to run positive duration gaps
FRTB: a work in progress
Banks cannot wait for clarification but must forge ahead
Commodities may be a sweet spot for blockchain
Some aspects of commodity markets make them a natural fit for distributed ledger technology