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SIAC Says SFTI Passed Blackout Test
NEW YORK - Officials of the Securities Industry Automation Corp. (SIAC) report that its Secure Financial Transaction Infrastructure (SFTI) network in greater New York went uninterrupted during the August 14 blackout that hit North America.
Get your house in order
On Thursday August 14 this year, the lights went out across the northeast US and the Canadian province of Ontario, in the worst ever power failure in North American history.
CME targets online FX market for Asia growth
Electronic foreign exchange derivatives trading will play a key role in the Chicago Mercantile Exchange’s (CME’s) development in Asia over the next few years, according to a senior official at the exchange.
Signs are good for IAS 39 final preparations
IAS 39 is still being finalised, but bank asset and liability managers are already putting in place systems and procedures to make sure their businesses come up to scratch. John Ferry reports
The dilemmas of risk disclosure
Barry Schachter discovers that the path towards a workable structure for hedge fund quantitative risk disclosure is very narrow. Bad news for the post-LTCM lobbyists
CME to list European weather contracts; jettisons weatherXchange plan
The Chicago Mercantile exchange (CME) will begin to offer European weather derivatives, referenced on five cities’ temperatures, from October 3.
Measuring operational risk: a reality check
In the second of two articles on operational risk, Mark Holmes looks at the measurement issues involved, taking a constructively critical look at the ideas currently in vogue.
Sydney Futures Exchange to introduce New Zealand equity derivatives
The Sydney Futures Exchange (SFE) has signed an agreement with the New Zealand Exchange (NZX) to develop New Zealand equity derivatives to be listed on the SFE by March 2004.
Banks back FXall prime brokerage messaging hub
Currency trading portal FXall has secured the support of seven leading banks to develop a shared messaging hub for notification of prime brokerage deals.
Eurex to launch US exchange in February
Eurex plans to launch its long-anticipated US futures and options exchange in Chicago on February 1. At a press conference this morning in Chicago, Eurex chief executive officer Rudolf Ferscha said Eurex filed this morning with the US Commodity Futures…
The global standard
In this article on anti-money laundering, Dominic Nixon and Rohan Bedi of PricewaterhouseCoopers analyse the final changes to the Financial Action Task Force (FATF) 40 recommendations.
Data vendors hold key to Measurisk survival
Measurisk, a US-based risk technology provider to buy-side community, is scrambling to secure cheaper new contracts from its data vendors in a last-ditch effort to remain a viable business concern. If it can’t convince these vendors to lower their prices…
Creating an op risk loss-collection framework
To meet the Basel II advanced measurement requirements and improve op risk management, firms must establish robust loss databases. Ulrich Anders and Jürgen Platz of Dresdner Bank in Frankfurt outline such a framework.
Raft of dealers set to market-make Trac-x
A raft of investment banks will start making markets in Trac-x - the global suite of credit default swap indexes created by the merger of the Morgan Stanley's Tracers and JP Morgan Chase's Jeci indexes in April – within the next two weeks.
Tokio Marine launches autumn foliage-linked derivatives
Japan’s Tokio Marine and Fire Insurance has launched autumn foliage-linked derivatives contracts referenced to the country’s daily precipitation index.
Eurex and BOTCC finalise agreement on US exchange
European derivatives exchange Eurex has finalised the terms of a clearing agreement with the Board of Trade Clearing Corporation (BOTCC), opening the way for the launch of a new US exchange next year.
Omhex starts operations
Omhex, the company formed by the merger of Sweden's OM Technology and Finland’s Helsinki Exchanges (Hex), which operates the country’s derivatives exchange, started trading today.