Asia Risk 2014 review: the five most talked-about stories

Trading errors, collateral and the potential for China's derivative market were 2014's top stories – with the latter likely to be even more important this year

In 2013 banks partied off the back of an Abenomics-inspired Nikkei 225 surge that saw several equity derivative dealers in Japan make record profits. In 2014 the hangover kicked in: while Japan's equity benchmark eventually finished the year ahead of where it started, this was only after a random walk that saw many domestic and international experts question the efficacy of the economic reform process. Asset managers and hedge funds may have been cursing Japan's fundamentals but dealers were