Chris Davis

1 week ago | risk.net | Chris Davis

The Commodity Futures Trading Commission is set to vote on a proposal that would allow US investors to clear their yen interest rate swaps at the Japan Securities Clearing Corporation (JSCC), addressing a decade-long quest that gained urgency amid skyrocketing yen interest rate volatility in recent weeks.

3 weeks ago | risk.net | Chris Davis

Global trade tensions have turned the normally benign Hong Kong dollar into a treacherous currency to trade, with wild spot moves forcing hedge funds to unwind leveraged positions that were widely seen as relatively safe bets. "There were a lot of carry-type positions and people playing the range in that currency [HKD] that I think have been forced to reduce as a function of just general risk management," says the head of FX at a global bank.

1 month ago | risk.net | Chris Davis

When the New Taiwan dollar (TWD) surged unexpectedly on May 2 and 5, the country's giant life insurers were immediately blamed for the move, given their huge size relative to the Taiwanese domestic market. Market participants, however, have mixed views on how active the insurers really were - but they agree the moves were exacerbated by hedge funds betting on the currency's rise after the central bank decided not to intervene aggressively to halt its wild appreciation.

2 months ago | risk.net | Chris Davis

Indonesia's new central counterparty (CCP) for foreign exchange derivatives is to seek recognition from regulators in three overseas jurisdictions this year, amid a flurry of membership enquiries from foreign banks. "[Foreign banks] have shown their enthusiasm [and] willingness to join," said Abdul Hadie, head of strategic planning and enterprise risk management at Indonesia Clearing and Guarantee Corporation (IDClear).

2 months ago | risk.net | Chris Davis

The Japanese are renowned for the cultural emphasis they place upon punctuality. On the Shinkansen - or bullet train - network, delays are famously measured in seconds; disruptions longer than a few minutes can make national headlines. In business, too, being on time is not merely a matter of professional courtesy, it's a fundamental mark of social respect.