Description: Discusses taxation of derivatives, as changed for some types under Dodd-Frank and not changed for others.

Description: Institutional investors seeking to hedge have no shortage of choices, and need the right framework to manage the different risks in portfolios as they arise. This article analyzes performance of different equity hedging strategies over the last 15 years, and lays out a potential hedging framework that takes into account types of risks being hedged, fundamental views, and current market pricing of protection.

Description: Article discusses possible effects of negative interest rates on product development, risk management, investment management and in-force management.

Description: This article explains the 2009 changes to the Global Credit Default Swap contract and North American conventions. It is reprinted with permission from The Markit Magazine.

Description: This article discusses unauthorized trading scandals — commonly referred to as “rogue trading”.

Description: This 2001 article discusses the requirement to assess hedge effectiveness in the Financial Accounting Standards Board’s new statement on derivatives accounting, FAS 133, Accounting for Derivative Instruments and Hedging Activities, as critical for qualifying for “special” hedge accounting. The article provides analysis of different approaches and the potential difficulties encountered. This article is reprinted with permission from Derivatives Week.

Description: In this article the author asserts that issuers of credit default swaps should hold reserves for the liabilities associated with the derivative contracts. This would significantly reduce most of the major problems associated with the trading of these instruments.

Description: New Zealand is about to launch its first variable annuity with guaranteed lifetime withdrawal benefits. The product design is mindful of the lessons from the financial crisis in the United States, Europe and Japan.

Description: Despite a clear need and demographics which should be favorable to LTCI growth, the market remains stalled due to lack of understanding on the consumer side, and uncertainty on carriers' side. The 3 key risk areas for carriers are morbidity, terminations, and investment earnings. Financial market innovations which can address these include: repackaging risks as derivative securities, interest rate swaps and options, and inflation swaps.

Description: Competition for space in distribution channels has resulted in a proliferation of exotic options embedded in variable annuity products. This article discusses how this has created a need which can be addressed, in part, by hedging variable annuity guarantees with long-dated equity derivatives.