Aviva has joined the Life & Longevity Markets Association as a full member, bringing its membership to 11. The other members are Axa, Deutsche Bank, J.P. Morgan, Legal & General, Morgan Stanley, Pension Corporation, Prudential, RBS, Swiss Re and UBS.   The LLMA was formed to promote the development of a liquid traded market in longevity and mortality-related risk, of the type that exists for insurance linked securities, and other large trend risks like interest rates and inflation.   Craig Thornton, chief risk officer at Aviva, says: "Aviva has watched with great interest the considerable work done by the LLMA

GFI Group, a provider of wholesale brokerage, clearing services, electronic execution and trading support products, has opened an office in Bogota, Colombia. The new office, opened by GFI Securities Colombia, will focus on brokering of Colombian sovereign fixed income, corporate fixed income and related derivatives products in the domestic market.   The Colombian Financial Markets Regulator (Superintendencia Financiera) granted GFI Securities Colombia the licence to commence operations last month.   “We are very pleased to announce the start of operations in Colombia,” says Nick Brown, GFI managing director, head of financial products brokerage, Americas. “This is a very important market

The International Accounting Standards Board (IASB) has published an exposure draft on accounting for hedging activities. The draft proposes requirements that will enable companies to reflect their risk management activities better in their financial statements, and help investors to understand the effect of those activities on future cash flows. Commenting on the proposals Andrew Spooner, Deloitte Global IFRS Financial Instruments lead partner, told Hedgeweek, “Corporate Treasurers have long felt frustrated that their risk management approach is not always fairly presented in the financial results. These proposals will bring down many of the barriers to entry to hedge accounting and make the