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Sunday, 17 December 2017

Christopher Whittall' s stories

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  • Bank shares vs bonds

    European bank stocks diverge from credit

    Capital City | 17 July 2014

    The divergence between European equity and bank debt is expected to broaden further in the coming months as fundamental changes in banking regulations continue to impact the industry, giving credit investors a lucrative relative value play.

  • RBS

    Banks shake up clearing

    Top News | 11 July 2014

    Leading investment banks are set to raise the price they charge to clear derivatives trades on behalf of clients, as two high-profile exits in the space of six months have highlighted the shake-up needed to make OTC client clearing a viable service under Basel III.

  • An Ecuadorean Central Bank worker stores packages of dollar bills

    Leverage burden drives cash-to-swaps shift

    Top News | 11 July 2014

    More stringent regulatory capital and leverage requirements are set to drive up the cost of government bond market-making, causing some banks to scale back or pull out altogether and potentially pushing more activity towards derivatives-based alternatives as banks struggle to hit ROE hurdles.

  • Rising rate hedges finally on the cards

    Derivatives | 11 July 2014

    After several false dawns, investors are once again bracing for a rise in US Treasury yields in the second half of the year, as economic data continue to improve and the Federal Reserve is set to stop expanding its balance sheet in October.

  • A structure showing the Euro currency sign is seen in front of the European Central Bank (ECB) headquarters in Frankfurt

    Rates decoupling spurs hedging

    Derivatives | 20 June 2014

    Growing divergence between three of the world’s largest central banks is causing corporates to re-visit hedging policies, as the prospect of interest rate rises draw nearer in the UK even as the European Central Bank embarks on a further relaxation of monetary policy.

  • The headquarters of Morgan Stanley is seen in New York

    Morgan Stanley shines light on murky FX market

    Derivatives | 20 June 2014

    Morgan Stanley is lifting the lid on the opaque over-the-counter foreign exchange market for a select group of its clients by providing them with unprecedented access to information on trade volumes and liquidity on a real-time basis.

  • china bonds

    DERIVATIVES: Study shows collateral mobility, not scarcity, is the challenge

    Capital City | 18 June 2014

    Regulatory reforms aimed at reducing systemic risk in derivatives markets are unlikely to spark a global collateral shortage, but more work needs to be done to ensure margin can circulate freely throughout the financial system so that firms can properly source assets to meet margin calls, according to new academic research.

  • London

    Correlations rise as banks cut out smaller funds

    Top News | 13 June 2014

    Capital-strapped banks’ laser-like focus on a shrinking pool of core clients is helping to cement the dominance of large asset managers on the buyside to the detriment of smaller investors, which are finding it increasingly difficult to secure balance sheet-heavy services from their dealer counterparties.

  • The Commodity Futures Trading Commission building in Washington, DC

    CFTC ‘tired’ of cross-border conflict exemptions

    Derivatives | 13 June 2014

    Derivatives clearing firms caught in the crossfire between US and European regulations should move their businesses to avoid jurisdictional conflicts rather than ask for regulatory relief, an audience at the International Derivatives Expo heard in London last week.

  • The Commodity Futures Trading Commission building in Washington, DC

    DERIVATIVES: CFTC ‘tired’ of exemptions for cross-border conflicts

    Capital City | 10 June 2014

    Derivatives clearing firms caught in the crossfire between US and European regulations should move their businesses to avoid jurisdictional conflicts rather than ask for regulatory relief, an audience at the International Derivatives Expo heard today in London.