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Regulation, risk and reaching nirvana – Harnessing your data assets in the wake of the crisis
Dark Pools of Liquidity – The Risks
Location of Market Risk Personnel
Credit Meltdown Recovery? Harnessing Stress Testing for Effective Risk Control
Determining Best Execution: What Roles Does Transaction Cost Analysis Play?
Establishing Control: Buy-side data management challenges
Navigating the Minefield: An assessment of current credit monitoring and control practices
Risk Management in 2009 – Where do we go from here?
The use of models within the financial industry has become prolific to the degree that their deployment has become responsible for a risk factor in and of itself: that of model risk. Although the benefits financial models can offer are considerable, a model that is ill-fitted to its task, applied improperly, poorly understood by its users or not subject to rigorous checks can potentially cause massive damage to a business.
Financial Regulatory Reform: A New Foundation, Rebuilding Financial Supervision and Regulation outlines five major objectives that it the Department of the Treasury is seeking to implement in the wake of the financial crisis.
This report has been released by the aforementioned department this week.
Banks could see a large swathe of their debt downgraded if Moody’s Investors Services, the rating agency, pushes ahead with plans to reform how it rates the hybrid securities that became so popular during the boom years, according to a report in the Financial Times.
Interactive Data Corporation has announced it has completed a significant upgrade of its U.S. East Coast data centre, according to a report on Finextra.
Opened in 2004, the 50,000 square foot facility is designed to provide 7 (day) x 24 (hour) x 365 (days per year) operational support.
Now, Interactive Data's data centre upgrade project has more than doubled the facility's capacity, while maximizing overall efficiency, particularly in regard to energy consumption.
According to reports on Finextra, BATS Exchange has announced technology upgrades to its ultra-fast trading platform resulting in average latency of 395 microseconds, with 80 percent of orders executed within 400 microseconds.
The Bank for International Settlements has annouced on its web site that in its report to the G7 titled Report of the Financial Stability Forum on Enhancing Market and Institutional Resilience, the Financial Stability Forum (FSF) requested the Joint Forum to conduct a stocktaking of the uses of external credit ratings by its member authorities in the banking, securities and insurance sectors. The request also suggested that authorities review whether their regulations and/or supervisory policies unintentionally give credit ratings an official seal of approval that discourages investors from performing their own due diligence.
According to a report in the Financial Times, one in 10 investors in private equity are likely to default on commitments to invest funds in the next two years, research has suggested.
The findings underline the scale of challenges facing the sector as it scrambles to adapt to a harsh new environment of falling returns, cash-strapped investors and a backlash from regulators and politicians.
Bloomberg has reported that BlackRock Inc. has agreed to buy Barclays Plc’s investment unit for $13.5 billion to become the world’s largest money manager. The firm started 21 years ago in a one-room office by former mortgage-bond trader Laurence Fink.
BlackRock will pay $6.6 billion in cash and the rest in stock for Barclays Global Investors, the New York-based company said today in a statement. Barclays will hold a 19.9 percent stake in the combined company. Financing will include $2.8 billion from the sale of equity to institutional investors and as much as $2 billion in loans from Barclays and other banks.
OpRisk&Compliance has reported that in the US, Congressional investigators have released their report into the bank stress tests conducted by the US Treasury and Federal Reserve earlier this year, saying the exercises were solidly based but that "serious concerns remain".
Finextra has reported a system outage this morning has forced bank-backed equity trading venue Turquoise to suspend trading.
In a statement, Turquoise says: "Following issues experienced by our members, trading was suspended at 08.26am. An investigation is underway, through which we will determine when trading will restart."