Publisher's Letter

Editorial Comment

Letters

Mr. Rogers' NeighborhoodSpanning the world - literally - with Jim Rogers, the original emerging markets mogul. Charlie Ruffel

Russia's misguided ADR reform

Custodians to become unpaid tax collectors for the IRS?

Back in the saddle

An exquisite precision of mind

A strategic choir for financial services

Swayne's world

Deciphering emerging marketsThe fate of emerging markets in the new global arena depends largely on whether their recent woes have been the result of structural inefficiencies or cyclical speedbumps.

Being hedge fund regulatorsHedge funds have historically sidestepped regulators' prying eyes. One more financial market crisis might change all that. Dominic Hobson

Getting into gearCrispin Odey expounds the virtues of going against the consensus. His success proves the reliability of such a strategy. Shanta Acharya

Climbing the Totem poleTotem Valuations establishes itself as the de facto independent source for pricing and valuations for the OTC derivatives market. Dominic Hobson

Assertions versus arithmeticThe tangled economics of CSD consolidation in Europe prove that rhetoric and reality rarely meet. Dominic Hobson

Ready to partyWith its domestic restructuring complete, Italy's Monte Titoli finally turns its attention back to the issue of European CSD consolidation. Dominic Hobson

All together nowFrom distant entities to soul mates: Depository associations in both the Americas and Asia are on a roll. Carol Bere

What is collateral management?At the end of 5th International Collateral and Repo Summit, many delegates confessed they were still not clear what collateral management actually meant. In the first of an occasional series seeking to unravel the mystery, Dominic Hobson looks at the different solutions adopted by two Dutch banks.

Principal leader

The changing fortune of securities lending

Cutting out the middlemanWill the new securities lending paradigm empty the pockets of global custodians? Probably not, but the old days of minting it are gone forever. Desmond MacRae

Straight to the topDefying its critics, the GSTPA solidifies its position as a force to be reckoned with in the battle for global straight through processing domination. Dominic Hobson

On the reboundCall it a comeback - Unicredito Italiano reemerges as a custody title contender in Italy.

A breath of fresh airWith pension reform boosting domestic investment and little competition from global custodians, Swedish custody providers are finally experiencing the high life. Steve Bergsman

Emerging Markets Agent Bank Review 2000