News
Energy CROs: cyber risk can only grow
Major cyber attacks on energy trading and infrastructure considered inevitable
Doubts and ambiguity remain around forex code of conduct
Customers face more responsibility for understanding dealing terms and more measures may be needed, sources say
Indirect clearing rules too demanding, warn EU regulators
EBA and Esma call for clarity on capital relief for exposures to clearing members
CCP rules are unclear and risky, EBA and Esma warn
Agencies query areas of ambiguity for clearing houses’ derivatives transactions
People moves: Citi axes second Asia-Pac clearing head in 18 months
Deutsche loses Asia head of global markets; StanChart hires HK chief; new Singapore head for Credit Suisse; and others
Massad: cost-benefit bill makes CFTC rulemaking 'very difficult'
Departing chairman says the CFTC already does “a good job” of analysing costs
People: Morgan Stanley sees raft of commodities exits
A number of senior bankers across Morgan Stanley’s commodities and energy lending units in the US are leaving the bank
Giancarlo to overhaul Sef rules if given CFTC reins
Acting chairman says all methods of execution should be permitted on Sefs
FRTB will spark rise in basis risk, firms warned
Dealers using standardised approach may be incentivised to push clients towards less precise hedges
LCH to clear single-name CDSs for US clients
Paris-based CDSClear already in discussions to onboard its first US FCM
JP Morgan to join Goldman in opening up risk system
Athena platform – built for JP Morgan's traders – could be available to clients in 2018
VM rules may spark Asian migration away from EU/US banks
Six-month transition could make inter-Asian trades cheaper, but only if liquidity is sufficient
People moves: Natixis appoints new head of Apac global markets
Singapore MP joins Ice; FastMatch hires sales chief; RBNZ's new risk assessment head
Fresh Priips objections reignite timing fears
Supervisors' concerns could delay adoption and put pressure on implementation timeline
US dealers face trading lockout from small Japanese banks
Lack of substituted compliance for Japan's small bank margin rules causing concern
Basel set to decide on capital relief for accounting changes
Phase-in to IFRS 9 and Cecl needed to avert "a dramatic overnight drop in regulatory capital", say auditors
Ice hires ex-Barclays OTC clearing chief in rates push
Ex-Barclays and Lehman banker Ray Kahn joins exchange group to focus on interest rate derivatives business
IASB revives IFRS 9 project to recognise portfolio hedging
Banking book behavioural complexity could still stymie attempts to facilitate macro hedging
Offshore RMB hedging costs soar as CNY/CNH basis hits record
Corporates "don't have a choice" about hedging
LSE-backed Libor replacement faces data wrangle
Proposed secured rate based on data from NEX, which has a competing offering
OCC fines Usher and Ramchandani $5m each in FX ‘Cartel’ probe
Former traders were indicted by the DoJ for the same offences
US indicts three in forex rigging probe
Accused UK-based traders face maximum 10 years in prison and $1m in fines
Banks seek to standardise cross-currency settlement dates
Talks under way to exchange principal amounts on IMM dates to allow for greater netting
Reputation model reveals how banks drag each other down
Network study shows bottom-line impact of bad news elsewhere