Articles by Viren Vaghela
Fitch rates Australian covered bond legislation
Fitch Ratings endorses Australian draft legislation on covered bonds, but says market needs more detail on reporting requirements
FSB concerned about counterparty and liquidity risk in ETF market
FSB warns of counterparty risk due to rapid growth of synthetic ETF market; also expresses concern about on-demand liquidity in stressed conditions, particularly linked with vertically integrated providers.
HK Lehman minibond resolution may be approved despite bond-holder dissent
Despite objections submitted to the US bankruptcy court from the holders of Lehman Brothers minibonds, the latest resolution effort to reach settlement on the sale of credit-linked notes to retail investors in Hong Kong may still be approved, as the 75%…
Asian regulators get tough on liquidity ring-fencing
Ring-fencing liquidity
Institutional appetite grows for ETF products
Entry point
Prop traders switching to Hong Kong hedge funds boost industry
Proprietary traders moving from banks to Hong Kong hedge funds has helped the industry turn a corner, say hedge fund market participants, and an SFC hedge fund report indicates the industry is bouncing back in Asia.
HKMA’s Yuen urges banks to take action now on Basel III LCR; warns of negative impact for corporate debt markets
Banks should begin preparing in earnest to meet the Basel III liquidity requirements as regulators begin the process of supervising banks’ compliance with the new rules, according to the deputy chief executive of the HKMA.
Diggle to re-launch Asia long volatility fund under new vehicle; inflation hedging another target
Stephen Diggle, co-founder of defunct Singapore hedge fund Artradis, which closed after incurring losses of $700 million, will re-launch an Asian long volatility fund under his new vehicle Vulpes Investment Management in May.
Artradis collapse a failure of judgement, not risk management, says co-founder Diggle
Artradis was one of Asia’s most successful hedge funds until it hit difficulties in 2009 and 2010 that resulted in losses of $700 million and culminated in its closure in late February. But the fund’s co-founder says error of judgement and a lack of…
Risk officers concerned about regulators’ approach to branch liquidity
Some risk officers at international and domestic banks in the Asia-Pacific region are frustrated by the regulatory focus on country-by-country stress tests and a trend towards branch liquidity.
Panic selling causes record spike in volumes in Japan ETFs
ETFs based on the MSCI Japan index have seen volumes reach unprecedented levels and large swings in volatility as investors digest events in Japan.
Verdicchio joins Vulpes Investment Management
Bert Verdicchio has joined Vulpes Investment Management as chief risk officer
StanChart to repurchase HK$1.48bn of Lehman ELNs; regulatory probe continues
Standard Chartered has reached a resolution with the SFC and HKMA to repurchase HK$1.48 billion of equity linked notes issued by Lehman Brothers but admitted no liability related to mis-selling the notes. Regulators said the bank should have performed…
Revised Basel III liquidity rules force Asia into uncharted territory
Uncharted territory
Lehman administrators win CLN case in Korea
Seoul District Court dismisses efforts by Korea Investment & Securities to claim payment from Lehman Brothers International related to the Korean company's purchase of credit-linked notes in November 2006.
Lyxor to launch five sectoral ETFs in Singapore
Lyxor will cross-list five Asian equity sector-based ETFs in Singapore from February 28. These are believed to be the first Asian sectoral ETFs in the region
Deutsche Bank's securities and exchange-trading operations banned in Korea for six months
Deutsche Bank's securities and exchange-trading operations have received a six-month ban in Korea for making 44.87 billion won ($40 million) in ‘illegal profits’ from market manipulation, following an investigation by Korean regulators; prosecution of…
Credit Suisse names Joseph Ho as head of ETFs for Asia Pacific
Joseph Ho joins Credit Suisse to strengthen its exchange traded funds business in Asia
DBS risk chief fears Basel III liquidity rules still ‘not realistic’
Elbert Pattijn, chief risk officer at DBS in Singapore, believes modifications to Basel III liquidity rules made late last year may still fall short of industry requirements to meet the final regulatory definitions of high quality liquid assets.
Proof of exposure required before Indian companies can trade derivatives
New regulations will require Indian companies to prove they have an exposure that needs to be hedged
‘Bizarre’ $555bn derivatives lawsuit in India rumbles on
Litigation claims fraud perpetrated by foreign banks and the RBI