Industry Aims to Secure Cloud
The obstacle to large financial firms' use of public clouds has been security, but industry groups and vendors are working to fix this. And internal clouds, protected within a firm's own firewalls, are under construction.
Swedbank to Use CEP to Assess Liquidity Risk
Swedish financial firm rolling out new liquidity risk management software to perform stress tests and calculate the impact of unusual market events intraday, says Erik Ohman, head of operations.
New Regulatory Requirements Require Data On-Demand
With a plethora of proposed regulations in the pipeline, financial services firms are facing more strenuous audits and data reporting requirements that could result in penalties if firms get them wrong.
Derivatives Clearing Gives Congress Fits
The Challenge Congress is working on legislation for OTC derivatives reform, but there is still no agreement on mandatory clearing of standardized instruments or on how exotic instruments will be handled.
Wiretaps Catch 14 More Insider Traders
Hedge fund managers, trading firm executives, lawyers, and corporate insiders thought they were safe using prepaid cell phones, but were caught through the FBI's surveillance system, which captured extremely damaging phone call transcripts.
No Country for Old Risk Models
Congress and taxpayers agree on one thing: Financial firms cannot continue to make large, risky bets and expect a government bailout. Survival in 2010 will hinge on more-effective risk management processes and technology.