News
Danaharta launches Malaysia’s first CLO
Malaysia’s national asset management company Pengurusan Danaharta Nasional Berhad (Danaharta), which is targted at resolving the country’s non-performing loan problem, has issued its first asset-backed securitisation (ABS) worth $81.6 million.
Prime brokerage on Currenex by close of year
Currenex, the online global currency exchange, will make available prime brokerage services to members of its FXtrades forex platform by the close of 2001, according to Lori Mirek, the firm’s New York-based president and chief executive officer.
Reliant to launch new hybrid weather-energy swap
Houston-based Reliant Energy appears to be attempting to take the mantle of industry innovator from troubled Enron by launching a new US natural gas index and associated hybrid swap contract that integrates energy and weather risk – the weather-sensitive…
Liffe confirms weather trading start date
The London International Financial Futures and Options Exchange (Liffe) has confirmed that it will launch its weather futures contracts on December 10 2001. The contracts will be listed and traded on Liffe Connect, and will be the first exchange-traded…
ING Barings debuts with synthetic CDO in Asia
ING Barings, the investment banking arm of Dutch bancassurer ING, has arranged what it claims to be the first arbitrage synthetic collateralised debt obligation (CDO) transaction managed by a portfolio manager in Asia, in an attempt to cater to the…
Indosuez Asian derivatives team unaffected by cuts
Indosuez WI Carr Securities’ Asian derivatives team will not be affected despite cuts of 300-plus staff at the investment bank throughout the region, according to a senior official at the bank. The 22-strong derivatives team will instead be integrated…
LCH appoints two new directors
The London Clearing House (LCH) has made David Pritchard and David Robins non-executive directors of the company, effective from November 26.
New chairman for MFA
Samuel Weiser, managing director of Ranger Capital Group, a Texas-based private investment management company, will replace Jeffrey Izenman as chairman of the Washington-based Managed Funds Association (MFA). MFA is a ten-year-old organisation for…
Rogue trade hits Eurex
A futures contract trading entry error on European derivatives exchange Eurex caused DAX December contracts to fall more than 800 points in early trading yesterday, sparking a fall in German equities that filtered through to London and Paris.
CBOE elects 11 directors
The Chicago Board Options Exchange (CBOE) has elected 11 directors to serve staggered terms on its 23-person board of directors. The terms of the newly elected directors will start when the board holds its first meeting in January 2002.
ANZ poaches Rabobank’s food and agri risk team
ANZ Investment Bank, the investment banking arm of Australia and New Zealand Banking Group, is to expand its role in soft commodities by hiring four ex-Rabobank staff in London. The move will establish ANZ's presence in agricultural futures.
Deutsche boosts US swaps sales effort
Deutsche Banc Alex. Brown, the US investment banking arm of Germany's Deutsche Bank, has lured Steve Beck from internet mortgage bond trading platform, Vertical Crossings, to become a senior salesman offering interest rate swaps and bonds in the US.
ICE enters weather risk market
IntercontinentalExchange (ICE), the Atlanta-based electronic commodity market-place, has launched weather derivatives on its trading system. ICE said its weather derivative products would provide energy market participants with a valuable tool for…
Raft to commercialise DrKW's op risk system
Dresdner Kleinwort Wasserstein (DrKW), the investment banking arm of Germany's Dresdner Bank, and Raft International, the component-based software provider to the financial services industry, have jointly developed and deployed Radar, a near real-time…
Turley named global FX head at Deutsche
Deutsche Bank's European FX head Jim Turley will take over as head of global FX from current incumbent Hal Herron, who is stepping down after four years at the helm for a three-month sabbatical in his native Australia.
JP Morgan joins ISE via Actant
JP Morgan, the investment banking arm of JP Morgan Chase, has joined the International Securities Exchange (ISE) as a competing market maker, using the Actant Aqtor front-end platform for trade execution and risk strategies. JP Morgan will use Aqtor for…
Risk head Williams to lead Wachovia's corporate banking division
Doug Williams, a risk and capital markets veteran, has been made head of global corporate banking at US financial services group Wachovia. Based at the firm's Atlanta office, he will report to Steve Cummings and Barnes Hauptfuhrer, co-heads of Wachovia…
Swissrisk to offer portfolio risk management via PDAs
Swissrisk, a provider of internet-based interactive and integrated risk and portfolio management tools, has teamed up with IBM to provide access to sophisticated risk and portfolio management tools over mobile phones and personal digital assistants (PDAs…
OpenLink establishes Berlin office
OpenLink, a US-based financial and energy trading risk management solution provider, plans to set up an office in Berlin, in order to consolidate its eastern European client base and better serve central European clients.
RiskMetrics and S&P integrate credit products
New York-based risk management software and research firm RiskMetrics has teamed up with Standard & Poor's Risk Solutions, the credit risk arm of rating agency Standard & Poor’s (S&P), to integrate two of their credit risk products.
KWI and Sapient team to offer energy risk management
London-based energy trading and risk management systems provider KWI has teamed with technology consulting firm Sapient to jointly market their products to the energy industry.
Eastman Chemical signs to Kiodex Workbench
Eastman Chemical Company of the US plans to install new technology from Web-based risk management solutions for the commodity markets, Kiodex, to manage earnings exposure to energy price risk.
GL Trade connects to Onexchange
GL Trade, a provider of exchange connectivity, is to connect its front-end trading platform to electronic market-place provider Onexchange to allow its clients to create and clear over-the-counter and exchange-traded derivatives instruments in real time.
SuperDerivatives adds barrier options for FX
Online FX options pricing vendor SuperDerivatives has added European-style knock-out and knock-in options to its pricing system.