Moody’s Proposes New CCP Ratings – International Financing Review
Moody’s has proposed a new global methodology that will allow clearing members and end-users to assess and compare the soundness of central counterparty clearing house risk management practices.
Can FX Technology be Scaled Across Asset Classes? – Profit & Loss (free story)
Although some elements of FX technology can effectively be scaled across fixed income and commodities business lines, there are limits to how similar these asset classes will become.
Clearing: More for Less? – FOW (subscription)
How can central counterparties be best encouraged to mitigate the risks deriving from their growing importance to financial markets?
Risk Managers Go to Front Office in Hunt for Banking Talent – Financial News (subscription)
A talent war is under way. But rather than fighting off raids from other industries or rivals, banks are seeing top investment banking executives head to roles in their own risk management units.
Citigroup Executive Pressured Brokers Over Libor, Court Hears – Wall Street Journal (subscription)
A Citigroup executive in London said he was pressuring brokers to get other banks to lower their interest rate submissions, a London court heard Tuesday. Andrew Thursfield, a high-ranking executive in Citigroup’s London office, wrote to a colleague in September 2007 about plans to try to get the London interbank offered rate, or Libor, to a lower level.
Spoofing: Fighting Finagling in Financial Markets – Bloomberg
It’s a new crime but it isn’t new. It has a silly name but it’s no joke. Spoofing, a way to manipulate financial markets for illegitimate profit, is blamed for undermining the integrity of trading and contributing to the scariest crash since the financial crisis.