News
ABN Amro builds in weather derivatives
ABN Amro has hired Henry Kus as director of weather and insurance derivatives. The Dutch bank said it had made the appointment in response to "rapidly increasing" investor demand for weather derivatives products.
Putnam invests $6.5 million in fund administrators
Derivatives Portfolio Management (DPM), a New Jersey-based fund administration outsourcing company, will receive a $6.5 million investment from Canadian investment bank Putnam Lovell NBF.
IASB issues revised standards for financial instruments
The International Accounting Standards Board (IASB) has issued revised versions of two standards, IAS 32 and IAS 39, which deal with the use of financial instruments.
Strong CDO market next year, says S&P
The pipeline of collateralised debt obligation (CDO) deals remains “extremely strong”, promising a busy start to 2004, especially for single-tranche, leveraged loan and CDOs of asset-backed securities (ABS) transactions, said credit rating agency…
IASB issues revised standards for financial instruments
The International Accounting Standards Board (IASB) has issued revised versions of two standards, IAS 32 and IAS 39, which deal with the use of financial instruments.
GFI to clear electricity trades through EEX
Interdealer broker GFI has entered a deal with the European Energy Exchange (EEX) to clear its over-the-counter electricity trades.
ABN Amro wins CLS mandate in India
ABN Amro has won the contract to provide continuous linked settlement (CLS) services to the Clearing Corporation of India (CCIL).
Complex issues must be resolved before Basel II can be implemented, says US regulator
Although the US remains committed to completing work on Basel II by mid-2004, many complex issues must be resolved before the new capital Accord can be implemented, according to John Hawke, the US Comptroller of the Currency.
Shrinking cost of foreign exchange options
The cost of buying currency options has come down only "moderately" for clients in recent weeks and months, said options specialists interviewed by Risk’s sister publication FX Week . But in terms of the increased risk protection they currently provide…
Commodities boost volumes on BarCap’s forex platform
Barclays Capital has enjoyed increased foreign exchange volumes on its white-labelled e-trading platform as a result of adding commodities earlier this year, a senior official told Risk’s sister publication FX Week .
Van der Moolen withdraws options business from Amex
Cohen, Duffy, McGowan (CDM), the options trading unit of Dutch financial services company Van der Moolen (VDM), is to resign from its role at the American Stock Exchange (Amex).
RiskMetrics' head of quant research joins Clinton Group
RiskMetrics' head of quantitative research, Allan Malz, has left to join New York investment company the Clinton Group, said a RiskMetrics spokesman.
Rabobank upgrades software for Basel II compliance
Dutch bank Rabobank has purchased risk management software from Ubitrade-Fermat to assist in its Basel II compliance.
Eurex cuts costs in bid to stimulate Finnish options trading
Frankfurt-based futures and options exchange Eurex intends to reduce transaction fees on Finnish equity options in a bid to boost trading volumes. Working with Finnish Exchange Hex Integrated Markets, the average trading cost would be reduced by more…
Deutsche Bank appoints head of global markets in Russia
Deutsche Bank has created a new position of head of global markets in Russia and internally appointed Yuri Soloviev to the post.
Korea’s exchanges to merge into single entity
The Korea Stock Exchange (KSE), the Korea Futures Exchange (Kofex) and Kosdaq are expected to merge to establish a single entity if a bill that is currently in congress is passed.
BNP Paribas tailor-makes Japanese CDS index
French bank BNP Paribas has created a sub-index to its CJ50 index of the 50 most liquid Japanese credit default swaps (CDS). Called CJ Flex, the sub-index is referenced on about 30 investment-grade credits, worth a total notional amount of more than ¥10…
Rabobank upgrades software for Basel II compliance
Dutch bank Rabobank has purchased risk management software from Ubitrade-Fermat to assist in its Basel II compliance.
Standard Chartered poaches JP Morgan Chase veteran
Standard Chartered has hired JP Morgan Chase veteran Richard Leighton as global head of foreign exchange options in London.
BarCap adds ANZ dealer
Edward Howard will join Barclays Capital in London in January, a spokeswoman for the bank told Risk's sister publication, FX Week .
Deutsche loses forex prime brokerage specialist
Rakesh Shah has left Deutsche Bank in London, where he was a foreign exchange prime brokerage specialist, a source at the bank told Risk's sister publication, FX Week .
Investors should buy credit protection, warns Morgan Stanley credit strategist
Investors should use the range of credit derivatives products to hedge their exposure to European corporate bonds, Morgan Stanley fixed-income analysts said today, adding they are bearish on the prospects for European credit next year.
US brokers spending less than expected on Basel II-related IT infrastructure, says TowerGroup
US brokers will only be spending between $6 million and $8 million on IT infrastructure for Basel II compliance, according to research by TowerGroup, a Massachusetts-based financial services research and advisory firm.
JP Morgan's co-head of European equity derivatives marketing joins Merrill Lynch
JP Morgan Chase’s co-head of European equity derivatives marketing for corporates, Cristina Garcia-Peri, has left the bank to join Merrill Lynch.