News
Aegon turns its back on pension deals in its home market
The Netherlands is Europe’s second-biggest pension market, but Aegon made little money from deals
Kuwait dispute leaves SWF without a head or full board
Fiscal battle between monarch and parliament keeps top positions at sovereign wealth fund vacant
BNP inks back-office clearing deal with FIS
Vendors jostle to offer collateral management services amid negative rates and shrinking returns for FCMs
Time to end debate on SOFR alternatives, participants warn
Doubt over future of five credit-sensitive Libor replacements may be hindering late-stage Libor transition
Use of proxy data in green asset ratios hangs in the balance
EU proposals to exclude non-EU firms from numerator may reduce ratio’s effectiveness
EU and UK climate rules may lead to a disorderly transition
Asset managers can wait until 2024 to disclose the carbon emitted by their investments
Ice pips Refinitiv to synthetic Libor prize
FCA selects IBA term Sonia for sterling tough legacy fix; Torf chosen for three yen settings
CME targets year-end rollout of new margin model
Clearing house testing new Span 2 framework with members, more work needed with vendors
EC drafting proposal for derivatives consolidated tape
Commission official says beta version ready for testing in 2023 will also include equities, bonds and ETFs
Stress capital buffer may delay buy-back announcements
Banks with capital ratios more sensitive to CCAR may rethink how they communicate distributions
Market’s mystery jumps might be predictable after all
Endogenous volatility has a tell-tale pattern, quants find
Hedge funds not doing enough to fix mispricings, study finds
Passive investing has blunted market efficiency, but hedge funds are failing to capitalise
CFTC’s Stump: new talks needed on offshore client clearing
Libor demise should spur rethink on US customer access to foreign clearing providers, says commissioner
Banks fear Fed crackdown on AI models
Dealers say agencies’ request for info could prompt new rules that stifle model innovation
SOFR alternatives remain on track despite regulatory warnings
Pointed criticism from FSOC has done little to dampen interest in credit-sensitive rates
UBS Asia-Pacific structuring head leaves bank
Felix Maratier to quit the industry and move to Spain
China netting law drives interest in CSAs
Steady growth in contracts with CSAs suggests confidence that clean netting is near
Banks invest in futures utility to guard against tech snafus
FCMs, including Goldman and JP, stump up $44 million to fund FIA Tech push to standardise trade processing
CFTC rule change sparks dealer-client margin scuffle
FCMs fear “race to the bottom” as funds lobby dealers for lower margin status
No clearing sweeteners for European SSAs, argue dealers
As public entities eye CCP membership, dealers warn of heightened risk exposure from support waivers
SEC’s Gensler takes aim at Bloomberg’s BSBY index
Credit sensitive SOFR alternative has “many of the same flaws as Libor”, regulator says
Early deaths could kill defined benefit pension shortfalls
Covid-19 will only worsen a trend in life expectancy that was already well underway
Asia moves: Deutsche appoints Asia-Pacific treasurer, Citi boosts Australian sales team, and more
Latest job news across the industry
Regulators setting climate rules would be ‘enormous failure’
Risk Live: ‘Trust markets’ not regulators to move capital away from big carbon emitters, says LGIM