Opinion
Why ‘Derivatives’ became ‘Markets’
The derivatives markets have changed drastically over the past decade. So has Risk.net’s coverage
Op risk data: US piqued by Pictet tax breach
Also: US Bank’s Covid failings; South Korea’s short-selling clampdown. Data by ORX News
Levelling the playing field for stablecoins
Regulatory asymmetries are a barrier to innovation in digital payments
Climate refugees, zero-day options and the wrong long
A look at the investment risks that just missed our annual list
Uncertain rates outlook poses challenge for corporate FX hedgers
Hedging programmes may need a revamp as EM/G10 rates differentials narrow
Measuring expected cost models on large FX trades
BestX study assesses factors influencing algo performance on trades over $100m in size
Op risk data: Monster real estate loan fraud bites Vietnam’s SCB
Also: Binance brought to book, Rabobank reprimanded over bond cartel. Data by ORX News
Europe’s half-baked benchmark switch leaves some dissatisfied
Users frustrated by narrow scope of euro transition, but replacing Euribor was never a euro group objective
Op risk data: TD Bank takes $95m pill for pyramid scheme
Also: GE settles after juicing asset manager sale; keeping conflicts of interest quiet. Data by ORX News
How long can the Magnificent Seven keep winning?
History suggests the dazzle of today’s star tech stocks will likely fade
Off target: SEC dealer rule will hurt those it aims to protect
Regulator’s plan could harm US Treasury markets and make it costlier for Americans to borrow, says Don Wilson
Be careful what you’re paid for
Pinning down the illiquidity premium in private credit is no easy task
Why ‘access all areas’ will be key for OTC derivatives
Without guaranteed pathways to CCPs, mandatory clearing could threaten financial stability, say Patrick Pearson and Bas Zebregs
Op risk data: Cigna catches a $172m cold over fake diagnoses
Also: Shinhan Bank America breaks AML rules; more greenwashing grime at DWS. Data by ORX news
Korea’s ‘worst-of’ times are here to stay
Chinese houses’ success in Korean autocalls could stymie hopes of diversifying the product mix
How to account for banks’ contribution to CO2 emissions
Price adjustments will depend on individual counterparties’ carbon footprints
Balanced trading is calming zero-day volatility fears
UBS finds little evidence that 0DTE options exacerbate volatility
Could intraday FX swaps help reduce settlement risk?
New swap platform hopes to ease funding pains, but can it promote more use of PvP?
Blaming open-end funds for liquidity shocks is closed thinking
Controversial proposals to overhaul how funds manage liquidity risk are based on a fallacy, writes Eric Pan
Talking Heads 2023: A turf war in credit markets
Banks are looking to reclaim territory they previously ceded to market-makers and private funds
Exploiting causal biases in market impact models
Model calibration gains efficiency by including biased but adjusted trading data
Op risk data: WhatsApp fines keep on coming
Also: ‘Five families’ stock-lending cartel pays up; double hit for Wells Fargo. Data by ORX News
The Fed’s stress-test models are inaccurate. Something has to change
First step for US regulator to improve its bank loss forecasts would be to open up its models to public scrutiny, argue two banking industry advocates
FX-style crypto platforms could bridge gap with TradFi
Emergence of execution-only ECNs, prime brokers and clearing houses brings new confidence in crypto