Buy side
My kingdom for the right copula
Copulas can still deliver if chosen with due attention to intuition and data, says quant fund chair
March’s clearing failures give new life to an old idea
Futures industry snubbed chance to build post-trade utility before. Now, it really needs one
Credit curves – Crucial in a crisis
The peak of the Covid-19 crisis in March 2020 underlined the need for superior data; when the tide goes out, the shortcomings of some datasets are cruelly exposed. Banks and asset managers will need to have confidence in the data fuelling their models…
Held in suspense: late futures orders blamed for Covid meltdown
Buy-side use of average pricing contributed to rash of failed trades and give-ups last March
Investment house of the year: Amundi
Risk Awards 2021: When the pandemic hit, Amundi moved quickly to cut risk and raise liquidity
Derivatives client clearer of the year: JP Morgan
Risk Awards 2021: Bank avoided tech snags and margin call surprises that plagued peers during crisis
Futures industry weighs need for new post-trade utility
Three large FCMs say standardising trade allocations could prevent a repeat of breaks seen during Covid volatility
Funds steering clear of bets on Libor timeline after losses
Despite FCA assurances, most actively traded swap bases have not yet widened back to November levels
European funds fret over merits and risks of ethical labels
Managers unsure whether to “aspire to” or “run away” from new ESG classifications for funds
EU fund managers confused by new ESG designations
Vague rules leave managers unsure which categories to apply to their funds
End ‘senseless’ ban on midpoint trading, asset managers urge
Investors decry European rule that forces them to trade some equities in whole tick sizes
ETF options: the market’s latest credit hedge
Investors look to derivatives on fixed income exchange-traded funds to manage credit risk exposure
US pension fund teams up with academics to cut through ESG fog
State fund and MIT’s business school look to improve ESG data and to reflect all investors’ views
Nascent green repo market promises new market ‘ecosystem’
Market participants see demand for repo backed by green collateral
Trading heads call for reform of double volume caps
Asset managers endorse UK move on caps and back changes to EU’s unloved share trading restrictions
Bonds fall from favour as shock absorbers for equity losses
Ultra-low rates force investors to rethink role of fixed income as diversifier
Guy Debelle on the FX Global Code and the rise of the buy side
Asia Risk 25: Code’s creators considering updates to sections on last look and pre-hedging
FCMs fret over S&P 500 options settlement changes
Dealers say CME, Cboe settlement time shift for S&P 500-linked options causes risk management headache
Markets search for FX factor as rates fall flat
Traders signal shift to currency strategies, but is it passing fad or permanent fixture?
Margin rules snare FX options users
US banks forced to post margin on ‘naked’ trades, with buy-side firms soon to follow
Algo users seek apples-to-apples info
BIS study raised concerns; standards now a work in progress at GFXC
Diginex chief on taming the Wild East of cryptocurrencies
Asia Risk 25: Singapore-based digital exchange wants to bring respectability – and regulation – to the sector
Machine learning will create new sales-bots – UBS’s Nuti
Technologists working to automate indications of interest from trading desks
TradingHub: client data trove offers jump on market abuse
Surveillance firm already using aggregate info to tackle best execution questions