News
Vattenfall’s new trading head, new COO for Aegis, and more
Latest job changes across the industry
Equity derivatives now biggest consumer of initial margin
Fragmented product set is 1.3% of OTC notional but attracts more margin than rates and forex
Mifid transparency has failed so far, say traders
Poor quality, inaccessible data and a lack of instruments covered undermine use case
StanChart and Nasa join forces for quantum computing project
Bank is exploring quicker ways to solve portfolio optimisation
Fed’s Curti: SMA will smooth capital mismatches
OpRisk North America: non-US banks holding less capital under own-models approach was “a big problem”, says regulator
Web-enabled devices raise cyber risk fears
OpRisk North America: banks wary of growth in ‘internet of things’
Basel to scrap automatic fails for P&L test
“Amber zone” will protect near-miss desks, but regulators not convinced by NMRF complaints
German power firm faces elevated op risks in Russia
OpRisk North America: clusters of risks cause problems for Uniper
EU risks backlash on CCP supervision – UK MEP
Swinburne says US could retaliate over fears of “damaging blanket Brexit policy”
Power traders slam Spain’s mooted plant closure rules
Tougher closure criteria would distort power prices and harm functioning of the market, say traders
Keith Bailey leaves Barclays
Former Isda chair departed UK bank at end of January, Risk.net understands
Cyber security expert issues call to modernise Patriot Act
OpRisk North America: current policies make it difficult to share information on cyber attacks
Cyber regulations prompt banks to elevate Ciso role
OpRisk North America: Information security increasingly seen as risk management function
US swap trading overhaul may reinforce market split, users warn
New rules on trade execution likely to halt any unifying shift of liquidity to order books
CCAR gives op risk modelling a new lease of life
OpRisk North America: Fed’s annual stress tests are rehabilitating ‘black box’ op risk modelling
UBS hoping for capital relief for past op risk losses
OpRisk North America: Swiss bank has taken action to prevent a repeat of costly missteps
JSCC margin changes ease Japan interest rate pain
Negative rates prompted switch in the CCP’s margin calculation model for interest rate swaps
Precise cyber modelling ‘a pipe dream’, expert says
OpRisk North America: Cyber risk models should aim for accuracy, not precision
OCC forms working group to tackle fraud
OpRisk North America: Rise in cyber fraud prompts US regulator to reassess guidance to examiners
European FRTB capital charges hang by a thread
EU Council mulls introducing only reporting requirements in CRR II, or a very low scalar
Market mean reversion takes longer than expected – CFM quants
Research on how long trends last could help avoid fallout from drawdowns like February’s
New BoE stress test puts focus on banks critical to UK
Annual test will attempt to gauge impact of IFRS 9
CECL vs CCAR: banks fear loan-loss reserves mismatch
Lifetime loan loss estimates will look much worse under CCAR stress scenarios than accounting measure
CFTC set to partner with SEC on CDS supervision
Move could open the door to single-name clearing mandate, say experts