Month: February 2014

Risk Management Key Focus for Institutional Investors – Study

BNY Mellon has released a new study highlighting the increased importance of risk management for institutional investors. The study, written in collaboration with Nobel Prize-winning economist Dr. Harry Markowitz, shows that 73% of these investors expect to spend more time on investment risk issues, while 68% expect to spend more time on operational risk issues. […]

ISDA Publishes 2014 Credit Derivatives Definitions

The International Swaps and Derivatives Association (ISDA) has announced the publication of the 2014 ISDA Credit Derivatives Definitions. This document contains the basic terms used in the documentation of most credit derivatives transactions. The 2014 ISDA Credit Derivatives Definitions introduce several new terms, including such as ‘standard reference obligation’, bail-in/financial terms for credit default swap […]

Lucera Launches On-Demand Infrastructure for Electronic Trading

Lucera Financial Infrastructures has announced the availability of its infrastructure to power electronic trading by financial institutions and high-frequency trading (HFT) firms. The firm says its platform is designed to enable customers to accelerate time-to-market, provide high-speed connections to marketplaces and exchanges, and reduce operational and regulatory risk while eliminating the capital expense of building […]

…As JP Morgan Named

JP Morgan has reportedly said it has been named in a number of class-action lawsuits over its foreign-exchange trading business. Reports indicate that the bank has also received requests for information about its foreign exchange trading from authorities both inside and outside the US, according to a regulatory report filed by the bank last week. […]

Scott and Scott Named Lead Counsel for FX Class Action Suit…

The law firm of Scott & Scott has been chosen as the interim lead counsel for the foreign exchange litigation class action suit by a US Federal Judge, according to news reports. The firm will reportedly serve in that capacity in a consolidated class action filed against some of the largest banks in the world. […]

Citi and Barclays Reach Agreement Over 2008 FX Losses

Citi and Barclays have reached a settlement in the lawsuit in which the former was attempting to recover over $141 million for providing foreign exchange services to a unit of Lehman Brothers during 2008. In a letter filed with the US District Court in Manhattan last week, the banks say they have reached an agreement […]

Fund Managers Concerned Over Emerging Market Risk – Survey

In a complete reversal from five years ago, when fund managers considered the emerging markets as “safe” and banks as “toxic”, EMs are now considered to be the biggest risk to financial market stability. According to the BofA Merrill Lynch Fund Manager Survey for February, 75% of respondents indicate EM risk as the greatest threat, […]

Fed Hits Foreign Banks with Strict Capital Requirements

The Federal Reserve has approved rules imposing strict new capital requirements on large US bank holding companies and foreign banking organisations. The new requirements are expected to have significant impacts for European banks that have large scale US operations and has led to some market participants expressing concern that European banks could reduce their presence […]

Hedge Fund Assets to Reach $3 Trillion: Deutsche Bank

Hedge fund assets are expected to reach a record $3 trillion by the end of 2014, up from $2.6 trillion in 2013, according to Deutsche Bank’s 12th annual alternative investor survey, which identifies trends amongst a growing hedge fund investor base. The bullish sentiment on industry growth is based on investors’ predictions of $171 billion […]

Singapore to Stop Setting Indonesia FX Rate

The ABS Benchmarks Administration (ABSBA) and the Singapore Foreign Exchange Markets Committee (SFEMC) are scrapping the USD/IDR spot rate benchmark, the second rate to be discontinued in the fall-out from the Asian state’s rigging scandal. Currently known as IDR VWAP, the main reference rate for the Indonesian rupiah will stop being published by the agencies […]