Topic
Derivatives
747 published works
Pension Risk Matters
Lonely CROs – Why Pensions Should Care
In "Morgan Stanley reviews position of risk officer over writedowns" (December 22, 2007), Financial Times reporter Henny Sender describes the hostile environment in which some risk management gurus live. Declaring that critics now accuse…
Pension Risk Matters
Missing Collateral = More Risk for Hedge Funds and Pension Plans
Some investors may be getting coal for Christmas. According to a December 20, 2007 Financial Times article ("Hedge funds assess exposure to banks"), reporter Saskia Scholtes describes a role reversal with respect…
Securities Law Prof Blog
States Investigate State Street Bond Funds
Some state attorneys general are looking into possible law suits against State Street Corp. over losses their state retirement funds suffered investing in two "enhanced index" bond funds. Marketed as…
Securities Law Prof Blog
Freddie Mac Settles Fraud Charges
The SEC today charged the Federal Home Loan Mortgage Corporation (Freddie Mac) with securities fraud in connection with improper earnings management beginning as early as 1998 and lasting into 2002.…
Pension Risk Matters
LDI Costs Go Up for Plan Sponsors as LIBOR Soars
While seen by some as a new-fangled name for an old concept ("keep your eye on the liability ball"), liability-driven investing ("LDI") is taking the defined benefit world by storm. Thought by some…
Securities Law Prof Blog
Hedge Funds Dominate Bond Markets
According to a recent study, hedge funds account for almost 30% of all US fixed-income trading, and 55% of US activity in derivatives with investment-grade ratings and 55% of trading…
Securities Law Prof Blog
NYSE Euronext Stock Troubles
NYSE Euronext, under CEO John Thain's leadership, appears to be doing everything right -- trading in record numbers on the NYSE, expansion into European markets through Euronext, plans to acquire…
Pension Risk Matters
Model Risk – Great Unknown for Pension Plans
In "How Street Rode The Risk Ledge And Fell Over," Wall Street Journal reporter Justin Lahart writes that "many lenders, funds and brokerages were following statistical models that grossly underestimated…
Securities Law Prof Blog
CBOT Shareholders Approve Merger with CME
CBOT Holdings shareholders approved a merger with Chicago Mercantile Exchange, which will result in the largest derivatives exchange. Last week CME improved its offer for the third time, which was…
Securities Law Prof Blog
Exchange-Traded Derivatives Drive Mergers
Three-quarters of the combined profits of the seven publicly traded exchanges in this year's first quarter came from developing and trading exchange-traded derivative products -- not trading stocks. This, according…