Europe
Repo rules caught in Covid’s concertina effect
Pandemic jeopardises phased rollout of Europe’s SFTR regime, raising fears of chaotic ‘big bang’ start
Dividend delays upend pricing of Eurostoxx futures, options
Investors that rolled futures contracts before companies axed AGMs “could have lost a lot of money”
Hedge funds see big gains on dividend curve trades
A popular relative value strategy delivered unexpected profits when companies axed payouts
Deutsche Bank cut liquidity buffer in 2019
Cash balance dropped €49 billion last year
Eurostoxx dividend futures see trading frenzy
December 20 contracts drop 39% in March
As Covid snaps credit models, lenders turn to stress-testing
Banks enlist scenario analysis to bolster creaking default models
Energy Risk Commodity Rankings: Uncertain times
The winners of Energy Risk’s Commodity Rankings overcame some tumultuous times in 2019, learning lessons that are certainly required in today’s volatile environment
SFTR confusion over Esma’s coronavirus delay
European regulator’s announcement fails to tackle how delay affects legacy transactions
EU banks eye bad loan relief from state guarantees
ECB move should prevent rickety loans counting as NPLs
Global investing under water? – Climate change could leave equities exposed
As impending global changes brought about by climate change loom, one issue in particular threatens to cause massive losses to institutional investors – rising sea levels. David Lunsford and Boris Prahl, of MSCI, explore where, despite the efforts of…
A sea change – Driving awareness to confront climate risk
Amid a global push towards green policies, the reality of overhauling how industries worth trillions of dollars operate is causing concern. A forum of market participants and sponsors of this report discuss the levels of awareness of climate risk and its…
Equivalence failure threatens European share trading
UK and EU investors may be forced to trade dozens of shares on less liquid exchanges, analysis shows
Coronavirus is testing op risk managers to the limit
No amount of stress testing can prepare firms for the risks they’re facing, says Ariane Chapelle
Countercyclical buffer releases may free €6bn at top EU banks
Banco Santander and BNP Paribas could free €1.1 billion each
EC: No plans to delay IM phase five
EC official says Europe will go ahead with phase five initial margin requirements set to come into effect in September
Munich Re’s capital requirement jumped 19% in 2019
Interest rate declines added €2.2bn to SCR
Exchange shutdowns could trigger derivatives unwinds
Eight-day closure would invoke subjective valuation clauses; hedge disruption could cancel trades
Banks think SFTR delay a ‘done deal’ amid virus outbreak
Industry letter urges regulators to postpone first two phases of reporting until October
Coronavirus rout revives attacks on futures margining
FCMs call for permanently higher margins following “unprecedented” number of breaches
Six countries slash countercyclical buffers
Sweden reduces its buffer the most, to zero from 2.5%
Lighting up the black box: a must for investors?
Many contend you must be able to interpret machine learning in order to use it
Growing sanctions raise compliance risk for energy firms
Sanctions increase risk for energy firms as regulators step up enforcement, writes maritime data expert
Autocalls hit peak vega, where hedging costs mount
Eurostoxx and Nikkei losses flip structured product dealers into painful short vol territory
iTraxx volumes spike amid market panic
Volumes of Ice-cleared index contracts more than four times higher than average