Risk magazine - Risk.net

Del Missier: "status quo won't work" for long-dated trades

Fri, 10 Feb 2012 17:43:35 GMT

Dealers will have to change the way they approach long-dated derivatives business, says Barclays Capital’s Jerry del Missier

European CCP group elects Eurex exec as new chair

Fri, 10 Feb 2012 15:21:11 GMT

Risk.net

Eurex's Marcus Zickwolff elected to chair European clearing house group

Emir clearing rules agreed - but calls grow for delay to Esma deadlines

Thu, 09 Feb 2012 18:56:00 GMT

Risk.net

Delays in the adoption of Europe's new clearing rules have eaten into the time Esma has to meet its June 30 rule-writing deadline

Vote now in the 2012 Risk España derivatives survey

Thu, 09 Feb 2012 15:05:00 GMT

Risk.net

Risk's annual poll on Spain's derivatives markets, including interest rates, currency, equity and other categories

HSBC appoints new head of European credit trading

Thu, 09 Feb 2012 10:24:12 GMT

Risk.net

Asif Godall to replace Paul Gooding, who will lead HSBC’s offshore RMB venture in London

Banks want derivatives collateral included in LCR

Thu, 09 Feb 2012 00:15:00 GMT

Risk.net

Received collateral is currently counted towards the liquidity reserve at some large banks, but should not be included in the LCR, say sceptics, who argue the assets can't be relied upon

UK should veto financial transaction tax, say Risk.net readers

Thu, 09 Feb 2012 00:05:00 GMT

Risk.net

An overwhelming majority of Risk.net readers says David Cameron must protect the City and veto the FTT

Dealers agree standard index CCDS documentation

Wed, 08 Feb 2012 10:03:36 GMT

Risk.net

The development of an index CCDS product will help market participants hedge counterparty risk, say proponents

Corporate backlash on costs of regulation continues

Tue, 07 Feb 2012 08:04:52 GMT

Risk.net

Banks will not be able to avoid passing on the hefty costs of regulatory reform to their buy-side clients, argued participants at the ACI UK’s annual square mile debate

Tri-party repo taskforce to disband without delivering key reform

Tue, 07 Feb 2012 00:05:00 GMT

Risk.net

The New York Fed's concerns about intra-day credit should be tackled by JP Morgan, BNY Mellon and DTCC, an industry taskforce concludes

Eurozone scenario analysis goes microscopic

Mon, 06 Feb 2012 17:42:00 GMT

Risk.net

Familiarity breeds content

Dealers tackle euro redenomination risks

Mon, 06 Feb 2012 17:40:00 GMT

Risk.net

Back to the drachma? Dealers have been busy war-gaming eurozone break-up scenarios in recent months. But one of the most complex, and uncertain, areas is what would happen to derivatives contracts in the event one or more member states leave the eurozone. By Matt Cameron

European capital rules could squash CVA feedback loop

Mon, 06 Feb 2012 17:32:56 GMT

Risk.net

European capital rules could squash CVA feedback loop The European Parliament version of CRD IV exempts trades with non-financials from Basel III's CVA capital charge - and dealers are hoping it covers sovereigns as well as corporates

Eurex to offer full segregation in March launch of OTC clearing

Mon, 06 Feb 2012 17:31:00 GMT

Risk.net

Eurex Clearing plans to be the first OTC clearer to offer full segregation of collateral when it launches in March - demand has risen since MF Global collapse

New Prime Finance panel could tackle debt crisis disputes

Mon, 06 Feb 2012 17:28:43 GMT

Risk.net

An arbitration panel set up to tackle derivatives disputes could also tackle eurozone debt crisis issues, says Jeffrey Golden, architect of the Isda master agreement

People: SG CIB promotes Mianné and Fields

Mon, 06 Feb 2012 17:26:46 GMT

Risk.net

Mianné lands the deputy CEO role at SG CIB, with Fields replacing him as head of global markets - but the bank loses David Knott; JP Morgan's Zubrow gets regulatory affairs post; Jotwani leaves Nomura, with Ashley and Assi promoted

Basel 2.5: US ratings workaround criticised

Mon, 06 Feb 2012 17:18:00 GMT

Risk.net

Workaround woes US regulators published a proposal in December that would enable domestic banks to implement market risk capital rules without relying on credit ratings. But bankers claim the rules are overly conservative and put them at a competitive disadvantage. Do they have a point? Mark Pengelly investigates

Q&A: Michael Spencer on Europe, Tobin taxes, OTC reform and futures monopolies

Mon, 06 Feb 2012 17:15:00 GMT

Risk.net

Broking's Big Bang A Europe-wide trading tax is under discussion in Paris and Frankfurt, but has no chance of being approved by the UK, Icap’s chief executive Michael Spencer tells Duncan Wood

Reconsidering the LCR

Mon, 06 Feb 2012 17:08:00 GMT

Risk.net

Reconsidering the LCR The Basel Committee is considering several substantial changes to its liquidity coverage ratio, including scrapping the distinction between level 1 and level 2 assets. But will this help banks meet the requirement? By Michael Watt

Basel DVA proposals could subtract billions from bank capital

Mon, 06 Feb 2012 17:05:00 GMT

Risk.net

DVA doubts Accountants want banks to report as profits the impact of widening credit spreads on their liabilities, but regulators are moving in the other direction. The result could be painful deductions from capital, and two very different sets of incentives. Laurie Carver reports

Esma: questions grow as Emir deadline looms

Mon, 06 Feb 2012 17:03:00 GMT

Risk.net

Esma under pressure The European Union’s securities markets authority will have to tackle an alphabet soup of new regulations and directives this year – Emir, Mifid and Mifir among them – with a staff smaller than that of Iceland’s national regulator. Can it handle it – and does it have too big a role? Joe Rennison reports

Risk and Energy Risk commodity rankings 2012: energy

Mon, 06 Feb 2012 16:59:00 GMT

Risk.net

Finding value in energy volatility In a roller-coaster year for many energy markets, Morgan Stanley seized top spot in this year’s rankings from its traditional rival, Goldman Sachs. By Alexander Osipovich, with additional reporting by Gillian Carr and Jay Maroo

Risk and Energy Risk commodity rankings 2012: metals

Mon, 06 Feb 2012 16:57:00 GMT

Risk.net

Hard times for metals markets In an environment of uncertainty for both prices and regulations, Société Générale retains pole position in base metals, while UBS takes first place in precious metals. By Peter Madigan

No nosedive: markets could defy doom-mongers

Mon, 06 Feb 2012 16:56:17 GMT

Risk.net

Challenging the doom-mongers Markets face a testing 2012 – but Stephen Blyth argues they are better-equipped to cope than in 2008

Need for speed: banks explore FPGAs for portfolio modelling

Mon, 06 Feb 2012 16:55:00 GMT

Risk.net

The gate array way It can take hours for traditional bank systems to run portfolio risk models. That’s too slow for some banks, which are now exploring unwieldy – but quick – field-programmable gate arrays. By Clive Davidson