News
JP Morgan Chase plans US power trading foray
JP Morgan Chase is establishing a New York-based electricity trading desk, joining a growing number of banks that have entered the sector in the past year.
Standard Chartered options trading head leaves
Standard Chartered has lost another member of its Singapore foreign exchange options team following the departure of Tim Carrington, global head of foriegn exchange options in Singapore, in July.
BMA creates distressed debt committee
The Bond Market Association (BMA) has formed a new committee to deal with industry issues related to the trading of distressed debt. The move is aimed at creating a common set of trading protocols to facilitate the continued growth of the market –…
Speakers voice synthetic credit and capital structure arbitrage fears
A number of speakers at Risk ’s Credit Risk Summit USA 2003 voiced concerns about investments in credit derivatives and capital structure arbitrage yesterday. Sivan Mahdevan, an analyst in Morgan Stanley’s credit derivatives research group, when opening…
Basel Committee publishes paper on bank compliance functions
The Basel Committee on Banking Supervision published a consultation paper yesterday outlining basic guidance for banks on the structure and operation of their compliance function, and "sets out banking supervisors' views on compliance in banking…
Caruana: 2006 implementation of Basel II still on target, despite difficulties
Despite recent controversies in the wake of the third Basel II consultative paper (CP3), Jaime Caruana, governor of the Bank of Spain and chairman of the Basel Committee on Banking Supervision, says he believes the new Basel II Accord will be implemented…
Risk quant of the year Lipton snared by Citadel
Alex Lipton, who won Risk ’s Quant of the Year award in 2000, has left Credit Suisse First Boston after only nine months and joined Citadel Group, the Chicago-based hedge fund.
Reuters names new global head of risk
UK trading systems and market data vendor Reuters has made Sebastien Rousotte global head of risk, a position that has been empty since the departure of Mike Whitaker earlier this summer.
Koch markets first volatility swap
Koch Supply & Trading, a division of energy conglomerate Koch, has marketed the first energy volatility swap in a deal with hedge fund Centaurus, a move the Wichita, Kansas-based oil trader hopes will increase its share in options markets and attract…
SEC publishes its own Basel II framework
The US Securities and Exchange Commission (SEC) has finally posted its proposals for its own Basel II framework for broker-dealers and investment bank holding companies on its website.
Japanese arbitrage CDO issuance to remain at standstill
The issuance of arbitrage synthetic and cash collateralised debt obligations (CDOs) in Japan is set to remain at a standstill due to tight credit spreads, according to a report published by Moody’s Investors Service.
Sponsor's article > Updated SunGard Basel II CD now available
SunGard Trading and Risk Systems has updated its Basel II CD to reflect events up to and including October.
GFI buys exotic options model
Inter-dealer broker and market data firm GFI Group has bought options pricing model dVega and integrated it with the latest release of its flagship options pricing tool Fenics FX.
Caruana: 2006 implementation of Basel II still on target, despite difficulties
Despite recent controversies in the wake of the third Basel II consultative paper (CP3), Jaime Caruana, governor of the Bank of Spain and chairman of the Basel Committee on Banking Supervision, says he believes the new Basel II Accord will be implemented…
iBoxx launches tradable CDO tranches
Bond and credit default swaps index company iBoxx has launched a series of tradable instruments linked to single tranches of one of its credit default swap (CDS) indexes.
JP Morgan Chase prepares first syndicated synthetic CDO
JP Morgan Chase has taken a leaf out of the bond and loan markets by putting together the first syndicated synthetic collateralised debt obligation (CDO).
HSBC closes $380 million synthetic balance sheet securitisation
HSBC has closed a HK$3 billion ($380 million) synthetic balance sheet securitisation transaction backed by its taxi and public light bus hire purchase agreements. It is the first synthetic transaction backed by such asset classes in Asia.
BarCap expands corporate risk management advising team
Barclays Capital (BarCap), the investment banking arm of Barclays Bank, has hired three new staff to work in its corporate risk management and advisory team in New York.
Sumitomo Corporation installs FNX’s Sierra
Japan’s Sumitomo Corporation has installed FNX’s Sierra System to support its strategy of complete straight-through processing (STP) for its commodities, exchange-traded products and swap-trading operations.
Credit derivatives set to hit $10 trillion by 2007, says Deutsche’s Misra
The credit derivatives market is set to hit $10 trillion in notional value within five years, with the number of actively traded credit default swaps set to double by 2007 to 600, according to Deutsche Bank’s global head of integrated credit trading…
Refco signs up as non-bank member to JP Morgan Chase’s CLS service
Refco Capital Markets has selected JP Morgan Chase as its provider of continuous-linked settlement (CLS) services.
Prebon plans to open US credit derivatives desk
Inter-dealer broker Prebon Yamane is planning to open a credit derivatives desk in the US, following its setting up of Asia-Pacific and Europe credit derivatives trading desks.
SunGard to offer integrated energy risk system
SunGard Energy Systems, an operating group of Pennsylvania-based SunGard, plans to offer a single integrated suite of energy risk and trading systems called Entegrate.
State Street hires options chiefs in Asia and Europe
State Street has hired two regional foreign exchange options managers in newly created positions overseeing Asia and Europe.