Articles by Peter Madigan
Portal combat
The first central clearing houses for credit default swaps were expected to start business at the beginning of December, but hold-ups in regulatory approval delayed the launch in the US. With four ventures now due to take off within months of each other…
Prime broker rage
Hedge funds
Volatility knocks
Variable Annuities
Rethinking CDSs
Regulation
O Brothers, where art thou?
The bankruptcy of Lehman Brothers, coming on the back of the conservatorship of Fannie Mae and Freddie Mac, sent market participants rushing to compute their exposures and replace affected hedges. How did the market bear up? By Peter Madigan and Nick…
The rates escape
A sudden inversion of the euro interest rate curve in June caught dealers and investors by surprise, causing losses for those that had put on curve steepener trades. Dealers rushed to hedge their short gamma positions, forcing the curve to invert further…
Back in fashion
Operational risk
Inflated or deflated?
Inflation trading
FSF calls for rating agency changes to aid market
Banks, investors and rating agencies are bracing themselves for a barrage of new regulatory guidance, consultation papers and capital charges in the wake of a report by the Financial Stability Forum (FSF) on April 12, which made a series of…
Call of duty
Government-sponsored Enterprises
Margin of error
Prime Brokers
Driven to distraction
Asset-backed securities
Going going gone
Auction rate securities
Subprime and punishment
Legal Risk