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News & Commentary
Content tagged with Risk Management posted in June 2012
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Can Regulators Realistically Enforce the Volcker Rule?
News  |  6/30/2012  | 
As regulators gear up to phase in the Volcker Rule -- an element of the Dodd-Frank financial reform package -- experts say a myriad of obstacles may keep the law from functioning as intended.
Euro Zone Decides New Measures to End Debt Crisis
News  |  6/29/2012  | 
Euro zone leaders bolstered their crisis-fighting arsenal on Friday by giving their bailout funds more flexibility to stabilise bond markets and to directly recapitalise banks in future.
Nomura Halves CEO Pay in Bid To Close Insider Probe
News  |  6/29/2012  | 
Nomura Holdings admitted to sweeping breaches of safeguards on confidential client information and will slash top executives' pay and briefly shut an equity sales desk as Japan's largest brokerage seeks to resolve a damaging insider trading probe.
Wall Street Rallies After EU Agreement to Stabilize Banks
News  |  6/29/2012  | 
Wall Street rallied on Friday, with major indexes trimming quarterly losses, after euro zone leaders agreed to allow rescue funds to be used to stabilize the region's banks.
JP Morgan Adds Risk Staff, As Potential Losses Spiral
News  |  6/28/2012  | 
The new hires are in the chief investment office, the unit responsible for JP Morgan’s recent well-publicized trading losses.
Bernard Madoff's Brother to Plead Guilty
News  |  6/28/2012  | 
Peter Madoff, the brother of imprisoned swindler Bernard Madoff, is expected to plead guilty to criminal charges on Friday.
JPMorgan Stock Plunges on Report Trade Loss Could be Bigger
News  |  6/28/2012  | 
JPMorgan Chase & Co came under renewed scrutiny after the New York Times reported that losses from a bungled credit-derivatives trade could be as much as $9 billion, much more than earlier estimated.
Big Banks Craft 'Living Wills' in Case They Fail
News  |  6/27/2012  | 
Five of the largest US banks are putting finishing touches on plans for going out of business as part of government-mandated contingency planning that could push them to untangle their complex operations.
Cloud Vendors Target Alternative Asset Managers, FX Clients
News  |  6/27/2012  | 
Gravitas and Portware are both launching new offerings, as the cloud continues to grow in all areas of the financial services industry.
What Went Wrong: J.P. Morgan to Disclose Details on Multibillion-Dollar Derivatives Loss
News  |  6/27/2012  | 
On Friday's second quarter earnings call, J.P. Morgan will shed more light on its recent  $2 billion -- and counting -- hedging loss. We break down what went wrong.
Canada's Asset Managers Take Prudence in Risk Management to the Global Market
News  |  6/27/2012  | 
Considering the state of the global markets, you'd think Canadian firms would avoid trading outside their own country. But Canadian asset managers are looking to trade with the same preparedness that helped them survive the 2008 credit crisis.
Market Behavior Continues to Defy Logic When It Comes to Risk Management
Commentary  |  6/27/2012  | 
The sovereign debt crisis has been going on for months, even years, but firms are still unprepared to manage risk and take precautions as they face increased regulation and greater market volatility.
Beyond Dodd-Frank: The Dire Consequences of Inaction
Commentary  |  6/26/2012  | 
Many buy-side firms are only addressing the basic and imminent requirements for counterparty risk management. What are firms missing, and what will it cost the industry?
UK Central Bank Sees Signs of Slowdown in US, Emerging Markets
News  |  6/26/2012  | 
Britain's economic outlook has worsened markedly in the space of just six weeks due to the deepening euro zone crisis and signs that a global slowdown is taking root in the United States and emerging markets, the Bank of England said.
Inside The SEC’s Tech Department
News  |  6/25/2012  | 
The Commission has long been derided for being out-of-touch and poorly staffed, but the SEC has recently been quietly shaking things up in its technology department.
Be Afraid: Some in US see Shades of 2008 in Euro Crisis
News  |  6/25/2012  | 
Grim. Serious. Terrifying. Nerve-rattling. These are the words some prominent American investors and strategists are using to describe the worsening debt crisis in the euro zone and its impact on the global economy.
Low Latency Hype, Exchanges Go On Crisis Control, Dimon Talks Back, and More
Slideshows  |  6/22/2012  | 
Experts question the ongoing latency race, exchanges focus on crisis control and Dimon faces the House Financial Services Committee. Here is what people are talking about this week.
The No-Shame Game on Wall Street
Commentary  |  6/22/2012  | 
Despite this historic mess, bad brazen behavior is not showing any signs of leaving the scene.
Moody's Cuts Rating of 15 Banks, Morgan Stanley Down 2 Notches
News  |  6/22/2012  | 
The ratings agency downgraded 15 of the world's biggest banks on Thursday, lowering credit ratings by one to three notches to reflect the risk of losses they face from volatile capital markets activities.
Twitter Double Outage Blamed On Bug
News  |  6/22/2012  | 
A double outage rocked Twitter on Thursday, as users worldwide reported significant down-time and slow service across the website and mobile applications of the microblogging platform.
Europe Slides, Dimon Smacks Dodd-Frank, and a Hedgie Loves Greece
Slideshows  |  6/22/2012  | 
In the same week that summer decided to show up in New York, other corners of the financial world were heating up as well. Jamie Dimon got a grilling from the members of the House of Representatives after last week's Senate Banking Committee tongue bath. Meanwhile, hedge finds managers gathered in Monaco to comment on the continent's slide to oblivion, while one US hedge find manager is placing all of his bets on – Greece?! Advanced Trading serves up the hottest quotes of this week.
La Française AM and S&P Capital IQ Team Up
News  |  6/21/2012  | 
In the lead-up of the forthcoming global credit Luxembourg fund, La Française AM will leverage S&P Capital IQ's proprietary Risk-to-Price practices.
Nasdaq OMX to Launch Interest Rate Derivatives Platform
News  |  6/21/2012  | 
Partnering with LCH.Clearnet, Nasdaq OMX's London-based NLX will offer competitive execution and and clearing fees as well as margin efficiencies, says the exchange operator.
Jamie Dimon In The House
Commentary  |  6/20/2012  | 
The fawning may not have been as egregious as last week's Senate testimony but the JPMorgan CEO showed how to smooth over a hellaciously bad bet.
Crisis Has Barely Begun: GLG Hedge Fund Manager
News  |  6/20/2012  | 
It's likely to last for at least another 15 to 20 years as major economies cut debt levels, according to Jamil Baz, one of Europe's most prominent hedge fund managers.
Dimon Says JPMorgan Was Honest With Shareholders
News  |  6/20/2012  | 
JPMorgan Chief Jamie Dimon insisted his bank was upfront with investors about its recent multibillion-dollar trading loss.
Dimon: JPMorgan Was Honest With Shareholders
News  |  6/19/2012  | 
JPMorgan Chase & Co Chief Executive Jamie Dimon said his bank was upfront with investors about its multibillion-dollar trading loss, even as regulators investigate whether JPMorgan disguised a dramatic rise in risk-taking.
Is Enforcing the Volcker Rule an Impossible Task?
News  |  6/19/2012  | 
In a Q&A with Advanced Trading, Nice Actimize's Stephen Anikewich explains why the Volcker Rule with be a major puzzle for banks and regulators alike, and whether this holds any relevance to the buy-side in the long-run.
SEC Chief Offers Regulatory Guide to JPMorgan
News  |  6/19/2012  | 
SEC Chairman Mary Schapiro will sketch a regulatory roadmap to JPMorgan Chase's recent huge trading loss, but will stop short of discussing the specifics of her agency's investigation with lawmakers.
Spain, Italy Demand Action as Debt Pressure Mounts
News  |  6/18/2012  | 
Spain called on Monday for the European Central Bank to fight financial market pressures on the euro zone, and Italy said more must be done to shore up the bloc after the Greek election result failed to ease the strain on both countries.
Global Markets on Red Alert for Greek Vote
News  |  6/15/2012  | 
Urgent messages flashed on cellphones, email alerts popped up and telephone extensions rang at the desks of a team at asset manager Legg Mason on Friday.
Breaking the Code Theft Brain Drain
Commentary  |  6/15/2012  | 
As firms embrace algorithmic trading, they must secure their codes from those outside the office - and inside as well.
CME Agrees to Turn Over MF Global Property
News  |  6/15/2012  | 
CME Group Inc reached an agreement to return $175 million in MF Global Holdings Ltd property, a trustee in the bankruptcy of the failed brokerage said on Thursday, $130 million of which is earmarked for former customers of the firm.
Rajat Gupta Guilty of Insider Trading
News  |  6/15/2012  | 
The former Goldman Sachs board member was found guilty of three counts of securities fraud and one count of conspiracy.
Black Box Funds Soar in May Despite Markets' Slide
News  |  6/15/2012  | 
A clutch of algo-driven hedge funds have profited from steep market losses in May, outperforming other hedge funds in a welcome turnaround for the black box sector that has struggled recently amid volatile markets.
Grads Ogle Google Over Goldman Sachs
Commentary  |  6/15/2012  | 
For One Protester, 'Occupy' Becomes a Way of Life
News  |  6/15/2012  | 
Seven months after Occupy Wall Street's eviction from Zuccotti Park, the round-the-clock encampment in lower Manhattan that was once the movement's center, one protester has created his own version of the communal living experiment in Brooklyn.
Retail Investors Flee, Lloyd's Work Ethic, Big Bodacious Data, and More
Slideshows  |  6/14/2012  | 
A few weeks after the botched Facebook IPO, experts continue to question the offering's long-term impact on the market, while Lloyd Blankfein gets some love and big data continues to grow. Here is what people are talking about this week.
Stanford Sentenced to 110 Years in Prison
News  |  6/14/2012  | 
Allen Stanford, the former Texas billionaire convicted of a $7 billion Ponzi scheme, was sentenced to 110 years in prison by a U.S. federal judge on Thursday.
The Top Dimon Testimony Quotes
Slideshows  |  6/14/2012  | 
Yesterday, JPMorgan CEO and Wall Street Golden Boy Jamie Dimon testified before the Senate Banking Committee and critics are calling the session a veritable love fest. Even though he was called to explain his firm's stunning $2 billion (and counting) bet gone wrong, not a silver hair was ruffled on the CEO's head. Here's a selection of killer quotes from the CEO himself, a US senator who actually challenged him and media commentators who watched as Dimon swatted away the softballs without breaki
Alliance Bernstein Began Clearing Swaps Ahead of Mandate
News  |  6/14/2012  | 
The buy-side firm is actively clearing interest rate swaps through LCH.Clearnet's SwapClear service so it can plan ahead for market structure changes and optimize its clearing solutions.
Deutche Bank Says Greek Exit From Euro Unlikely
News  |  6/14/2012  | 
Deutsche Bank thinks it is unlikely that elections in Greece this weekend will lead the heavily-indebted country to leave the euro, the chief financial officer of Germany's biggest bank said on Thursday.
Dimon Shines At Senate Hearings
Commentary  |  6/13/2012  | 
No fireworks, no smoking gun - just a smooth Jamie Dimon before some Senators who clearly don't understand Wall Street.
Protesters Greet JPMorgan's Dimon In DC
News  |  6/13/2012  | 
JPMorgan Chase & Co Chief Executive Jamie Dimon's highly anticipated appearance before lawmakers on Wednesday got off to a rocky start with multiple protesters disrupting the event.
A Sneak Peek at Jamie Dimon's Testimony
Commentary  |  6/13/2012  | 
The CEO of JPMorgan Chase has released his opening statement to Congress and while he comes clean he doesn’t say it was all THAT bad.
JP Morgan Knew London Traders Were A Problem
Commentary  |  6/12/2012  | 
Despite his sterling reputation for risk management, JP Morgan CEO Jamie Dimon tolerated risky trades, loose limits and changes in its VaR out of the London chief investment office.
How the SEC Could Pursue a Case Against JPMorgan
News  |  6/12/2012  | 
JPMorgan's failure to disclose a change in how it measured risk could become the centerpiece for an enforcement action by the SEC as it examines the bank's multibillion dollar trading loss.
How the SEC Could Pursue a Case Against JPMorgan
News  |  6/12/2012  | 
JPMorgan Chase's failure to timely disclose a major change in how it measured risk could become the centerpiece for an enforcement action by U.S. securities regulators as they probe the bank in connection with its multibillion dollar trading loss.
IMF's Lagarde Urges Euro Zone To Take 'Decisive Steps'
News  |  6/12/2012  | 
The head of the International Monetary Fund on Tuesday called for "decisive steps" by European policymakers to deal with the region's financial crisis.
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