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UK watchdog will not pressure banks on advanced Basel II
The UK’s principal financial market watchdog will not pressure banks to adopt the advanced approaches to measuring risk capital under the Basel II banking Accord, UK Financial Services Authority (FSA) managing director Michael Foot said today.
Battery failure caused HK futures trading stoppage
A dead battery led to the closure of Hong Kong's futures and options trading for than an hour on Tuesday, according to a preliminary investigation by the Hong Kong Exchanges and Clearing (HKEx).
Chief executives back formation of Committee of CROs
The newly formed Committee of CROs (chief risk officers) - aimed to create best practice in risk management for the U energy industry - has received strong backing from energy company chief executives.
CDC Ixis’ new weather desk targets French clients
CDC Ixis Capital Markets has set up a Paris-based weather derivatives desk that will solely target French clients. The French bank will target the energy, construction, tourism and agriculture sectors.
ASX to launch electricity futures
The Australian Stock Exchange (ASX) plans to begin trading electricity futures contracts by the end of the year, according to an official at the exchange.
Nymex sets margins for OTC clearing
The New York Mercantile Exchange (Nymex) has set margins for the 25 over–the-counter derivatives contracts it will be clearing from May 31.
Energy CROs committee set for public launch next week
The Committee of CROs, a body of energy company chief risk officers, will publicly launch next week. The committee has brought forward its formal creation due to the volume of industry enquiries following RiskNews' story US risk officers move to form…
Asian investors look to structured credit
Low interest rates and tight credit spreads are fuelling an interest for structured credit products in the Asia-Pacific region, according to bankers. And a variety of structured and hybrid products are now being marketed to Asian investors there.
ICE expands into European power markets
Atlanta-based electronic energy and commodities trading platform the Intercontinental Exchange (ICE) is set to trade UK, German and French power derivatives.
Credit Markets Update: Key investment grade names see sharp widening
The cost of protection on a number of European investment-grade names, including France Telecom, Fiat and Repsol, remained high on the credit derivatives market this week, as their spreads widened to more than 400 basis points.
TriOptima's euro rates swaps tear-up planned via the Net
The first major interest rate swaps tear-up planned through TriReduce – a system developed by Sweden’s TriOptima – will take place via the internet later in the year, TriOptima founder and director Derk Brouwer told RiskNews .
Morgan Stanley set to launch European synthetic ‘Tracer’
Morgan Stanley plans to launch a synthetic version of its tradable custodial receipt – ‘Tracer’ – product soon in Europe, following its introduction of a Tracer index based on single-name credit default swaps in the US in mid-April, and its launch of…
Hong Kong retail investors' derivatives usage trebles
The number of Hong Kong retail investors buying derivatives increased three-fold last year, according to a survey released this week.
Rates Markets Update: Swap flows increase on economic news
Dollar-swaps saw big flows this week following a US Treasury announcement on Monday that it plans to borrow $120 billion to cover its budget shortfall. Ten-year swap spreads had come in from 57.5 basis points at the start of the week to 52bp midweek,…
FASB redefines derivatives
The Financial Accounting Standards Board (FASB) yesterday amended the definition of derivatives within its mark-to-market accounting regulation FASB 133.
Static data moves forward
Firms tackling high-speed and information-intensive tasks such as straight-through processing or risk management without accurate instrument and counterparty reference data may be taking enormous operational and credit risks. Clive Davidson reports on…
Consolidation fever
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Basle regulators hope for SMEsolution by mid-June
BASLE II UPDATE
Regulators plan trio of Basle II papers for October
BASLE II UPDATE