Exchanges
Euronext expands weather potential
Euronext is launching six weather indexes for France, called 'NextWeather', as a first step to offering exchange-traded weather derivatives contracts in continental Europe next year.
Hong Kong derivatives volumes rise in 2001
Derivatives trading volumes in Hong Kong soared to new highs last year, with total futures and options contract volumes rising by 13.9% in 2001 from the previous year, according to the Hong Kong Exchanges and Clearing (HKEx).
Deutsche Börse to release Neuer Sentiment Index
Deutsche Börse is set to release a new 'behaviour-oriented' equity index based on the Neuer Market – made up of 325 mainly German technology and high-growth companies – as a market information tool for dealers.
OneChicago selects CBOEdirect trading platform
OneChicago, the joint venture of Chicago’s three derivatives exchanges created to trade single-stock futures, has selected the Chicago Board Options Exchange’s (CBOE) screen-based system, CBOEdirect, as its trading platform.
Swiss Re signs up Longitude in weather push
Swiss Re signed up with New York-based risk management software firm Longitude today, to help its development of new weather risk management products.
BOTCC to process Nasdaq Liffe
Nasdaq Liffe Markets (NQLX), in a preparatory move before the start of trading in single-stock futures (SSF) in the US, agreed to let the Delaware-based Board of Trade Clearing Corporation (BOTCC) process certain deals known as 'give-ups'.
EEX to offer clearing for OTC forwards
Germany’s European Energy Exchange (EEX) plans to become the first power exchange in continental Europe to offer central counterparty clearing services for over-the-counter (OTC) electricity forward transactions.
2001 a record year for Liffe and Eurex
Europe’s two largest derivatives exchanges this week reported record trading volumes for 2001. Eurex, the Swiss-German exchange, traded a total of 674 million contracts in 2001, a 48% increase on 2000’s 455 million contracts. The London International…
On a slow road
Many in the energy industry are touting Italy as the next country in Europe to fully open its energy market to competition. But on closer examination, the country has a long way to go if it is to emulate the UK, the Nordic region and Germany. By Robin…
Israeli exchange upgrades contingency plans
The Tel Aviv Stock Exchange (Tase) has upgraded its contingency facilities for trading and clearing to ensure that in the event of an emergency, such as a terrorist attack on the main exchange, systems should continue to function as normal.
SME debate delays next Basel II paper
The Basel Committee on Banking Supervision has delayed its next consultative paper for Basel II, the new rules that will determine the amount of regulatory capital internationally active banks put aside against risk.
Approach with caution
Indicators of operational risk are not for the faint of heart, nor are they necessarily bearers of good news. But used properly and effectively, they can help businesses identify potential losses before they happen.
The Basel II capital accord: op risk proposals in brief
This summary has been updated to include the revisions to the Basel II op risk proposals contained in the Working Paper on the Regulatory Treatment of Operational Risk issued in September, 2001 and available on the Bank for International Settlements'…
Sound practices paper gets positive response
Bankers generally responded positively to the guidance on sound practices for managing operational risk issued by global banking regulators in December.
Op risk modelling evolves
Operational risk is devilishly difficult to model, but dealers and software vendors are making headway. Automated op risk reporting, profiling and sophisticated operational value-at-risk (VAR) modelling are finally beginning to catch-on in banks.
Basel II sets the pace for operational risk reform
Basel II is set to come into play in 2005, bringing a host of opportunities for vendors along with the new framework for banking supervision. Andrew Partridge examines the potential and some of the challenges for the suppliers and users of financial…
The Basel Accord: A tough nut to crack
Crafting a capital charge for operational risk has proven to be a project fraught with controversy. International regulators’ first attempt raised the industry’s hackles. David Keefe reports on recent – and further expected – compromises by the Basel…
Utilities: Enron’s ripple effect
Cover story
Fighting fat-finger syndrome
TECHNOLOGY
The Basle II capital accord: op risk proposals in brief
BASLE II UPDATE
Job moves
QUOTE OF THE MONTH: - “The FSA has successfully put the fear of God into senior managers” Simon Gleeson, a partner in the regulatory group at Allen & Overy in London, on the FSA’s new unlimited liability rules for risk management errors Source: RiskNews,…