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News & Commentary
Content tagged with Risk Management posted in April 2012
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Rogue Trader Kerviel Accuses SocGen of Forgery
News  |  4/30/2012  | 
Former Societe Generale trader Jerome Kerviel says six hours of interviews were cut from evidence and plans to sue his former employer for forgery and manipulation of evidence.
SunGard's Valdi Adds Support for International Options Exchanges
News  |  4/30/2012  | 
With options trading volumes increasing, SunGard's Valdi Options Risk Manager now offers firms the ability to manage their overall position risk on options exchanges globally,
US Mortgage Funds Emerge As Housing Sways
News  |  4/30/2012  | 
The U.S housing market may still be in the doldrums, but funds that are betting on big gains in mortgage-related investments are a hot ticket this year on Wall Street.
Emerging Markets Hold Breath As EU Banks Shrink
News  |  4/30/2012  | 
LONDON, April 30 (Reuters)- From Beijing to Bucharest, emerging market policymakers are as worried as those in Brussels that the rapid contraction in western European banks' balance sheets will compound the debt crisis and further delay economic recovery.
Credit Suisse Suffers Pay Revolt, Barclays Next?
News  |  4/27/2012  | 
Almost a third of Credit Suisse shareholders rejected the bank's pay plan on Friday and UK rival Barclays was braced for a similar revolt as investors vented their fury at executive pay deals and called for a bigger slice of profits.
Spanish Economy In 'Huge Crisis' After Credit Slash
News  |  4/27/2012  | 
Spain's sickly economy faces a "crisis of huge proportions", a minister said on Friday, as unemployment hit its highest level in almost two decades and Standard and Poor's downgraded the government's debt by two notches.
Lazard Profit Drops, Still Beats Street
News  |  4/27/2012  | 
Lazard Ltd's first-quarter earnings dropped sharply because of higher costs, but the boutique investment bank beat analyst expectations by a wide margin when excluding a previously announced charge related to severance packages.
Blankfein Sounds Off, Dow 15,000?, Taibbi on Senate’s MF Global Inquiry, and more Quotes of the Week
Slideshows  |  4/27/2012  | 
Lloyd Blankfein opens up (well, sort of), Dow 15,000, Matt Taibbi on the Senate's MF Global hearings and the increasing use of consumer devices in the enterprise, also known as Bring Your Own Device (BYOD), are some of the topics people are chattering about this week. Wall Street & Technology keeps you in the loop by compiling some of the best quotes of the week. Enjoy!
HSBC To Cut Over 2,200 UK Jobs, Targets Managers
News  |  4/26/2012  | 
HSBC is cutting more than 2,200 jobs in Britain, targeting senior and middle management roles as part of its drive to slash costs and boost profitability in the face of a changing banking landscape.
Blankfein Opens Up On What Goldman Sachs Has Done Wrong, and Right
News  |  4/26/2012  | 
Goldman Sachs CEO Lloyd Blankfein discusses the Greg Smith resignation letter, PR practices and more.
Numerix Boosts Risk Management Offerings With New Partner
News  |  4/25/2012  | 
New regulatory demands continue to increase the need for robust and timely risk management.
ITG Rolls Out TCA for Institutional FX Trading
News  |  4/25/2012  | 
The firm said the platform will help the buy side trade improve their executions in one of the least transparent asset classes.
The Center of the Financial Crisis, Four Years Later
News  |  4/25/2012  | 
The geographical center of the financial system is no longer Wall Street. Despite that shift, not much else has changed for the big banks.
Bitran Father and Son Pay $4.8M SEC Fine, Leave Securities Industry
Commentary  |  4/24/2012  | 
The once heralded father and son hedge fund GMB Capital Management admit no wrong-doing in feeding Bernard Madoff and faking their profits.
What Led to the Crisis? The Repeal of Glass-Steagall, Stupid
Commentary  |  4/20/2012  | 
Just like his predecessor John Reed, former Citigroup Chairman Richard Parsons holds the fateful 1999 repeal of Glass-Steagall responsible for the financial crisis.
Eyeing the SEC, Hedge Funds Shore Up IT
News  |  4/20/2012  | 
According to an Omgeo survey, hedge funds are addressing the demands of the SEC and other regulators.
DTCC and EFETnet Launch 1st Global Commodity Swaps Repository
News  |  4/19/2012  | 
Submission testing for Dodd-Frank Swap Data Repository (SDR) requirements will begin May 14.
Hedge Funds Short the Euro
Commentary  |  4/19/2012  | 
Chicago's Mini-Boom in Small Prop Shops
News  |  4/18/2012  | 
Innovation is the key to a start-up's survival in the face of over-regulation.
Call-Out To Regulators: Banks Just Can’t Get Enough Stress Testing
News  |  4/17/2012  | 
Banks want more - and better stress testing, according to a global Sybase survey.
Abel Noser Unveils TCA To Combat FX Trade Costs
News  |  4/17/2012  | 
The transaction cost analysis provider says its clients are increasingly turning to TCA for FX.
Prime Brokerages Consolidate After "Big Bang"
News  |  4/16/2012  | 
Hedge funds are cutting back on the brokerage accounts they hold as the prime brokerage industry begins to consolidate more than four years after the Lehman Brothers bankruptcy blew the sector wide open.
Why The CEP Market Will Hit $276m In 2013
News  |  4/16/2012  | 
The market for CEP is still booming as firms discover a growing number of applications for the technology.
OpenLink Launches CFTC Large Trader Reporting Solution
News  |  4/16/2012  | 
Releases comprehensive, XML-based reporting package for clearing members and swap dealers to report physcial commodity and swaption positions to the CFTC under Dodd Frank.
UBS, Goldman Win Formula One IPO
News  |  4/16/2012  | 
Private equity firm CVC Capital Partners has hired UBS and Goldman Sachs to lead an expected $2 billion initial public offering of motor racing business Formula One in Singapore, sources with direct knowledge of the matter said on Monday.
With TSX Shaky, Canadian Fund Managers Play Defense
News  |  4/16/2012  | 
With China's massive economy slowing and fresh signs of trouble in Europe, many Canadian fund managers are now favoring defensive stocks over growth-driven sectors such as mining and energy.
CFPB Warns U.S. Financial Firms About Contractors
News  |  4/13/2012  | 
U.S. financial institutions may be held accountable for the actions of the companies they contract with for services such as telemarketing or product development, the new U.S. Consumer Financial Protection Bureau said on Friday.
Top Quotes of the Week From the Street
Slideshows  |  4/13/2012  | 
It's been another busy week on Wall Street. BlackRock noted that it has no plans to cannibalize Wall Street, Barclays' CEO was paid $18 million too much, CIOs are sure they know best, and Goldman Sachs bankers only had to work 7 hours to pay a multimillion dollar SEC fine. Wall Street & Technology brings you some of the choicest quotes from Wall Street.
Group of 30 urges big banks to reform governance
News  |  4/12/2012  | 
The Group of Thirty, a private organization of influential regulators, financial executives and academics, has thrown its weight behind reform of corporate governance practices at the world's biggest financial companies, implicating executives, board members, shareholders and regulators for past failures.
Inside BlackRock's Buy-Side Bond Platform
Commentary  |  4/12/2012  | 
Big Hedge Funds Welcome Dodd-Frank Transparency Regs
News  |  4/12/2012  | 
Hedge funds think the finance reform law will help them be seen as a more mainstream investment vehicle by institutional investors, according to a study.
JPMorgan Wins Revenue War, Goldman Sags
News  |  4/12/2012  | 
U.S. group JPMorgan kept its top position in investment banking revenue last year, with Goldman Sachs and Credit Suisse losing most ground in a tough year for the industry, a study showed on Thursday.
MSRB Works to Further Transparency In Municipal Market
News  |  4/12/2012  | 
The Municipal Securities Rulemaking Board establishes a long-term plan to enhance its Electronic Municipal Market Access and provide investors with additional transparency into municipal securities pricing.
Fed's Rosengren Urges Money Market Fund Reforms
News  |  4/11/2012  | 
Money market funds must be thoroughly revamped in order to ensure a stable U.S. financial system, the president of the Federal Reserve Bank of Boston, Eric Rosengren, said on Wednesday.
9 Biggest Mistakes CIOs Make
Slideshows  |  4/11/2012  | 
Managing a multitude of IT projects with a virtually flat budget in a highly competitive environment is no easy task. But CIOs are making a number of serious mistakes in running the IT organization, such as trying to build too much internally or focusing on the wrong type of transparency, which could ultimately damage their company, and the industry at large. WS&T sat down with four experts to discuss what heads of IT departments are doing wrong. Here is the list of the biggest 9 mistak
Hack Attacks Against Financial Firms Multiply In First Quarter Of 2012
News  |  4/11/2012  | 
China remains the top source country for attacks but the U.S. and Russia both moved up in the rankings.
Bernanke Says Financial Stability A Work In Progress
News  |  4/10/2012  | 
The U.S. economy has yet to fully recover from the effects of the financial crisis, and regulators must continue to find new ways to strengthen the banking system, Federal Reserve Chairman Ben Bernanke said.
Broadridge Releases New Financial Analysis And Reporting Solution
News  |  4/10/2012  | 
The platform is a rules-based enterprise web solution.
AcadiaSoft Hires COO
News  |  4/10/2012  | 
AcadiaSoft named Chris Walsh, an expert in the financial messaging field, as COO of the company, to run the day-to-day affairs.
Wall Street Tumbles After Weak Jobs Report
News  |  4/9/2012  | 
Major U.S. stock indexes were set to open about 1 percent lower on Monday after last week's much weaker-than-expected report on March U.S. job creation.
Forex Fine Print Haunts BNY Mellon, State Street
News  |  4/9/2012  | 
State Street has unveiled a new twist in its legal defense against charges of foreign exchange fraud: We're not like Bank of New York Mellon Corp.
Beyond Volcker: Seeing the Forest Through the Trees
News  |  4/5/2012  | 
Looking at the big picture, we see that Dodd-Frank leads to the removal of some of the structural barriers that exist in today's largely two tiered market structure, redistributes risk capacity within the capital markets and moves prop risk taking out of the banking system.
Regulator to Penalize JPMorgan over Lehman Demise
News  |  4/4/2012  | 
A U.S. regulator is set to penalize JPMorgan for actions linked to the demise of investment bank Lehman Brothers at the height of the financial crisis in 2008, the New York Times said, citing people briefed on the matter.
Mobile: Data Security's New Frontier
Commentary  |  4/4/2012  | 
As clients increasingly expect to be able to trade, transfer funds and do almost anything else they can do on a PC from their mobile devices, Wall Street technology executives must figure out how to protect data outside the enterprise.
How to Protect Employees' Mobile Devices From Cyber Attacks
News  |  4/3/2012  | 
With many financial services employees conducting business on the go, their smartphones and mobile devices increasingly are targets of cyber attackers.
Data Security: Who’s Winning the Cyber War?
News  |  4/3/2012  | 
The growing sophistication of cyber attacks and the proliferation of vulnerabilities resulting from the rise of mobile computing are forcing financial institutions to rethink data security and embrace new fraud-fighting techniques and technologies, including real-time monitoring.
The Key to Protecting Financial Data
News  |  4/3/2012  | 
Protecting financial data requires finding the right balance between security and access, says Tabb Group's Alex Tabb.
Data-Centric Security Offers Best Defense Against Cyber Threats
News  |  4/2/2012  | 
Data-centric security offers the best defense against advanced persistent threats, argues Voltage Security's Mark Bower.
Markit Acquires Data Explorers
News  |  4/2/2012  | 
Ambac Sues JPMorgan Over Mortgage Losses
News  |  4/2/2012  | 
Ambac Financial Group Inc, the bond insurer that last month won court approval to emerge from bankruptcy, has sued JPMorgan Chase & Co to recover losses on mortgage securities that it insured and were made by the former Bear Stearns Cos.
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