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News & Commentary
Content tagged with Risk Management posted in October 2012
Capital Markets Outlook 2013: Innovation While Cutting Costs
News  |  10/31/2012  | 
Once again, CIOs and their IT organizations will be forced to do more with less in 2013. However, this was expected and most are finding innovative ways to slash costs while boosting productivity.
Capital Markets Outlook 2013: QA Testers and Kill Switches Wanted
News  |  10/31/2012  | 
The SEC is ramping up its rules for managing the technology risk of computerized trading on stock exchanges, including a kill switch to stop runaway algorithms.
JPMorgan Sues Former London Whale Boss
News  |  10/31/2012  | 
JPMorgan Sues Former London Whale Boss
Twitter Proves a Lifeline Despite Pranksters
News  |  10/31/2012  | 
Even though the NYSE was victim to a Twitter prank, as Hurricane Sandy pounded the east coast, millions of residents turned to Twitter as a hotline that hummed through the night.
NYSE to Test New Plan; Trading Floor Undamaged by Storm
News  |  10/30/2012  | 
NYSE Euronext said it plans to test a new contingency plan to help resume stalled U.S. equity trading, and added that its famed trading floor is not yet damaged by Sandy, one of the biggest storms to hit the United States.

Did the Ouster of Pandit Violate Securities Laws?
Commentary  |  10/26/2012  | 
The news that Vikram Pandit's voluntary resignation as chief executive was really a boardroom ouster could trigger regulatory scrutiny.
IMF's Lagarde Urges Action On Unfinished Financial Reforms
News  |  10/26/2012  | 
Unfinished financial reforms are hampering recovery in key parts of the global economy and weighing on economic growth, the head of the International Monetary Fund warned.

Why The U.S. Government Should Not Be Suing Bank of America
News  |  10/26/2012  | 
It's not the first time the government is targeting big banks, but it's probably not the right approach either.
Flash Crashes, Kill Switches, and 10 Million Easy Buttons
Commentary  |  10/25/2012  | 
If firms don't start to do a better job of testing software and systems, regulators may do that job for us. And then things will get really complicated.
IT Isn't Where It's At
Commentary  |  10/25/2012  | 
The big growth in tech spending is happening outside of the IT organization. That creates a challenge for companies trying to leverage technology well.
Bloomberg's Vault Cloud Service Goes Local
News  |  10/17/2012  | 
Vault, a cloud-based enterprise information management solution, now has a version called Local Vault that meets regulatory requirements to keep data in a local jurisdiction.
High-Speed Trading Slows Down
News  |  10/15/2012  | 
Profits are drastically down at high-frequency trading firms, according to new data. There are a number of reasons why.
Déjà Vu for the Market as the Black Monday Crash of '87 Turns 25
News  |  10/15/2012  | 
There are several parallels between how participants responded to major market crashes in 1987 and 2008, including calls for more transparency, and a significant reshaping of market structure.
Mortgage-Backed Securities Once Again A Good Bet for Hedge Funds, Asset Managers
Commentary  |  10/12/2012  | 
With the U.S. housing market appearing to have turned the corner, along with the Fed planning to buy mortgage bonds every month, the outlook for mortgage-backed securities appears bright.
Second-Tier Banks Need Capital Top-Up By 2016
News  |  10/11/2012  | 
Nationally important banks will need to hold extra capital from 2016 to cushion the impact on their domestic economies if they hit trouble, but the global banking watchdog will leave it up to national regulators to say how much more.

trueEX Signs Clearing Deal with CME Clearing
News  |  10/11/2012  | 
As a designated contract market or DCM, trueEX will offer electronic trading in standardized global interest rate swaps, and clear through CME Clearing.
OTC Derivatives Clearing Raises Challenges for Collateral Management
News  |  10/10/2012  | 
A new report by Woodbine Assoc. analyzes the impact of Dodd-Frank/Basel II regulations on collateral management and increased margin requirements, while offering an in-depth analysis of vendor systems.
How Do You Get The Biggest Bonus On Wall Street?
News  |  10/9/2012  | 
It hasn't been an easy year for Wall Street, but some finance professionals are going to have a good bonus season, according to a new survey.
Can Industry Collaboration on a Kill Switch at the Exchange Level Help Prevent Technology Glitches?
News  |  10/9/2012  | 
At the Securities and Exchange Commission roundtable, industry experts discussed the need for developing and testing large scale deployments to prevent electronic trading errors, but they also suggested designing a kill switch may be the best method for preventing another mishap.
Are Wall Street Firms Looking to Third-Party Data Centers To Take Advantage of Efficient Cloud Computing?
News  |  10/8/2012  | 
In addition to cost savings, third-party data centers offer financial firms an increasing menu of infrastructure services, which can even help create competitive advantage. But security and compliance concerns will likely keep many financial organizations from soaring in the public cloud.
Thomson Reuters and BlackRock Launch New Fixed Income Derived Analytics
News  |  10/8/2012  | 
While Thomson Reuters and BlackRock have been working together for over 20 years, this is the first time they have brought a joint product to market.
Morgan Stanley's Gorman: Bankers' Pay is Too High
Commentary  |  10/5/2012  | 
Finally, the outrageous pay on Wall Street has become more than an embarrassment, it's a liability.
More Management Reshuffling at JP Morgan After Multi-Billion Dollar Trading Loss
News  |  10/5/2012  | 
Several top executives have left the bank this year following the firm's massive trading snafu.
Credit Suisse Readies More New York-Area Layoffs
News  |  10/5/2012  | 
Credit Suisse Group will lay off another 78 employees in the New York region by year-end, its fourth round of cuts for the area this year.
It's Time to Get Serious About Software Testing, Says SEC Roundtable
Slideshows  |  10/5/2012  | 
Commentators observing the SEC markets technology roundtable held in Washington DC this week say the roundtable participants didn't get specific enough when it came to software testing and that the industry should look at how other industries, including aerospace, test and validate products before putting them to market.
Trading Glitch Hits Nasdaq And Other Exchanges Again
News  |  10/4/2012  | 
A number of exchanges, including Nasdaq, are at the center of another trading error.
Politics Boost Risk For Emerging Market Yield-Seekers
News  |  10/4/2012  | 
Investors rushing headlong to emerging markets in search of yield could find future returns under threat as economic downturns and income inequalities spur a rise in political risks.
Romney To Dodd-Frank: Get Ready For Repeal
Commentary  |  10/4/2012  | 
The GOP candidate promised to gut the sweeping regulatory reform that President Obama signed into law. That sound you hear are the tears of joy from Wall Street.
NY Suit Against JPMorgan Makes a Ripple, Not a Splash
News  |  10/3/2012  | 
New York state's lawsuit against JPMorgan Chase & Co alleging fraud in mortgage-backed securities sold by Bear Stearns may be one of the broadest cases to come out of the financial crisis, but its impact is likely to be limited. The biggest beneficiaries may be investors who have taken out private lawsuits against the bank.

Why Kill Switches Won’t Kill Risk
News  |  10/3/2012  | 
TD Ameritrade CTO Lou Steinberg says he is wary of using systemic kill switches and even less comfortable with the concept of automated kill switches.
Outdated Portfolio Accounting Systems Stifle Growth — Poll
News  |  10/3/2012  | 
Buy side executives responding to a SimCorp poll feel that their portfolio accounting systems may not support the launch of new products or major asset classes.
NY Sues JPMorgan Over Bear Stearns Mortgage Securities
News  |  10/2/2012  | 
New York Attorney General Eric Schneiderman filed a civil fraud lawsuit against JPMorgan Chase & Co on Monday over mortgage-backed securities packaged and sold by Bear Stearns.

SEC Technology Roundtable: How To Test Your Software To Avoid Technical Glitches
News  |  10/2/2012  | 
During the SEC's market technology roundtable, GETCO CTO Jonathan Ross argued that market participants must follow several testing best practices to avoid technical glitches.
NY Sues JPMorgan Over Bear Stearns Mortgage Securities
News  |  10/2/2012  | 
This is the first action to come out of a working group created by President Obama to go after wrongdoing that led to the financial crisis.
Monash Investors Adopts Imagine Portfolio, Risk Tools
News  |  10/2/2012  | 
The Australian fund manager adopted the new solutions to run Va, Monte Carlo and scenario analysis.
Goldman Tops Global Prime Broker Rankings
News  |  10/2/2012  | 
Goldman Sachs and Credit Suisse have emerged from the financial crisis as the biggest suppliers of brokerage services to the embattled hedge fund industry.

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