ICMA Centre Blog

Still fretting about re-hypothecation

There is a widely quoted paper re-use and re-hypothecation by Egemen Eren — Intermediary Funding Liquidity and Rehypothecation as Determinants of Repo Haircuts and Interest Rates (Institute of Global Finance, 2015) — which provides another example of the danger for researchers of disregarding the difference between the re-use of collateral sold in repo (re-selling) and…

Academics, you re-hypothecate at your risk!

In a blog in May 2015, I tried to explain that, outside the US repo market, it was incorrect to use the term ‘re-hypothecation’ to describe the use of collateral purchased in a repo by its buyer. Such use is usually termed ‘re-use’ but would be better called ‘re-sale’. The crux of the matter is…

My unforgettable first week in a brand new environment

By Xuefei Zhu, China, MSc International Securities, Investment and Banking When I first arrived in the UK, almost everything was new to me. I came from China to study here and it was my first time studying in a new country. But despite that I had an amazing first week, and several things impressed me…

Career switch: From International Relations to a Masters in Finance

My name is Martin and I’ve just started studying MSc International Securities, Investment and Banking at the ICMA Centre, part of Henley Business School. Making the switch I previously studied European Studies and International Relations but (as many people do) I decided that I needed a career change. Even though I don’t have an academic…

Kind of a big deal: AT&T and Time Warner acquisition

– by Nikolaos Antypas, ICMA Centre PhD student There is a major acquisition in the making, which may have dominated your business news stream: AT&T (2nd largest mobile network provider in the U.S.; acquirer) has reached an agreement with Time Warner (4th largest content provider in the U.S.; target; also, Na na, Na na Na…

3 tips for getting a career in Finance – by alumnus Ben Deverell

My name is Ben Deverell, and I’m a career commercial banker with roles spanning operations, risk, strategy and business management. I’m currently a senior member of our Financial Institutions business, supporting clients with their financing, investment, risk management and banking needs. To any current students looking to start a career in finance: the financial industry is a great place to work and I…

Emailing the CEO of Deutsche Bank and asking for a hug… – by Cameron Pfiffer

Cameron Pfiffer, studying MSc Corporate Finance at the ICMA Centre, blogs about his first weeks at the ICMA Centre and using the Bloomberg Terminals for good and evil. One of the reasons I chose to come to the ICMA Centre was the facilities – the building and the neighboring Henley Business School (which the ICMA Centre…

Beijing study trip: My top 4 experiences from my trip to Tsinghua University – by Vicky Lee

Vicky Lee, from South Korea, is a recent graduate of the MSc International Securities, Investment and Banking course at the ICMA Centre, Henley Business School. The ICMA Centre offers three scholarship opportunities each year for students to visit Tsinghua University as part of university’s annual Summer Program, and Vicky was one of a select few…

Could the result of matches in the European Football Championship influence the UK EU Referendum?

by Adrian R Bell and Dina Ghanma “Some people believe football is a matter of life and death. I am very disappointed with that attitude. I can assure you it is much, much more important than that.” – Bill Shankly If we are to agree with the great Bill Shankly, then we would not be surprised…

FUND RATING – by ICMA Centre alumnus Steve Gruppetta

Steve Gruppetta studied MSc in International Securities, Investment and Banking at the ICMA Centre, and is now a finance professional and a consultant within EY’s Transaction Advisory Services after joining the practice from the asset management industry. What if we rate investment funds? “Steve, this supposedly well-managed fund is losing money! My financial planner said it…