Exchanges
Op risk capital charge difficult to devise in imperfect Basel II, says US central banker
NEW YORK - The lack of an agreed methodology and credible loss data has made it extremely difficult to devise an operational capital risk charge under the terms of the Basel II bank capital accord, a senior US central banker acknowledged in mid-October.
Basel moves on disclosure
The Basel Committee on Banking Supervision recently announced two significant revisions to its new capital adequacy framework (new Basel Capital Accord or Basel II), which are set to have positive and far-reaching implications for the global banking…
Op risk sound practices paper delayed to November
BASLE II UPDATE
Over-concentration of services risks raised by September 11 -- Depository Trust chief
WORLD TRADE CENTER AFTERMATH
The Basle II capital accord: op risk proposals in brief
BASLE II UPDATE
Regulators aim for late February CP3 publication
BASLE II UPDATE
Clearstream prepares for takoever
Clearstream, the European clearing and settlement house, is in the process of speaking with rival body Euroclear and Deutsche Borse over plans for a takeover. Clearstream’s Luxembourg-based board will consider both proposals, which outline the indicative…
Liffe's future lies with Euronext
The board of the London International Financial Futures and Options Exchange (Liffe) has unanimously voted to recommend a £555 million ($806 million) cash takeover bid by pan-European exchange operator Euronext to its shareholders. The other bidders were…
EEX and LPX merge
Germany's two electricity exchanges, the European Energy Exchange (EEX) and the Leipzig Power Exchange (LPX), will merge by the start of next year. The new exchange will be called EEX, and will be based in Leipzig. It will be jointly run by Hans…
CFTC makes amendments to CFMA 2000
The Commodity Futures Trading Commission (CFTC) has released the final rules relating to the trading of equity futures products in the United States. These rules implement provisions of the Commodity Futures Modernisation Act of 2000 (CFMA) that lift the…
BNP Paribas launches first leveraged funds CDO
The leveraged funds group at French banking group BNP Paribas has launched its first collateralised debt obligation (CDO) fund focusing exclusively on Western European Leverage Buy-outs (LBOs), in a bid to strengthen its asset management business.
Standard Chartered joins FXall connect
Standard Chartered has adopted FXall connect from Cognotec, the Dublin-based foreign exchange and money market e-commerce solutions provider. FXall connect’s application programme interface (API) will enable Standard Chartered’s customers access to a…
HKEx to introduce three-year EFN futures
Hong Kong Exchanges and Clearing (HKEx) plans to introduce three-year exchange fund note (EFN) futures contracts on November 12, subject to the approval of the Hong Kong regulator, the Securities and Futures Commission.
DTCC seeks to address post Sept 11op-risk concerns
The Depository Trust & Clearing Corporation (DTCC), the world’s largest clearing company, has seized the initiative to address the issue of systemic operational risk concerns raised in the aftermath of the US terrorist attacks of September 11.
CSFB closes precious metals business
Leading global investment bank Credit Suisse First Boston is to close its London, New York and Sydney precious metals market-making and structured derivatives, clearing and vaulting businesses.
Euronext uncorks wine futures
The combined Paris, Brussels and Amsterdam bourse, Euronext, has started trading its wine futures contract, Winefex, after its launch date was postponed due to the September 11 terrorists attacks in the US. The publicly quoted exchange said it is trading…
Inreon sees limited deal volumes
Online trading platform Inreon has seen a number of transactions completed on its internet-based reinsurance trading platforms, but volumes have been muted, with a total value of $30,000 to $600,000 (inreon declined to provide specific figures) through…
Regulated derivatives see record trading
Derivatives exchanges have seen strong rises in trading volumes at a time when the take-over battle intensifies for the London International Financial Future and Options Exchange (Liffe).
Moody's forms Basel II advisory group
Moody’s Risk Management Services (MRMS) has formed a 'BIS II implementation advisory group' that will help clients establish internal credit rating approaches in line with changes to capital requirements for banks, proposed by the Basel Committee on…
Basel regulators cut op risk charge benchmark to 12%
BASEL - Global banking regulators formally acknowledged in late September some of the criticisms of their controversial proposal for an op risk capital charge. Their plan is to make large international banks set aside protective capital from 2005…
Basel regulators to study insurers' reaction to US attacks
BASEL - Bank regulators considering allowing op risk insurance a role in the proposed Basel II bank accord will study closely how the insurance industry deals with the massive insurance claims arising from the September 11 attacks in the US. So said…