News
SunGard creates real-time credit risk analytics
SunGard Trading and Risk Solutions, a unit of US technology provider SunGard, has built a new credit tool that can offer traders access to virtually real-time risk exposures.
Spain's Banco Sabadell signs up to OpVar
Banco Sabadell, a Spanish retail bank, plans to employ operational risk management services provided by OpVantage, the firm created by the merging of NetRisk's quantitative op risk services with consultants PricewaterhouseCoopers.
India gets single-stock futures
The Mumbai Stock Exchange (BSE) launched 31 single-stock futures at the end of last week in an attempt to boost derivatives products available on the exchange.
Fitch sets up risk management subsidiary
Rating agency Fitch has set up Fitch Risk Management(FRM) to provide analytical risk management tools and services to financial institutions, investors and regulatory bodies throughout the US and Europe.
Rolfe & Nolan releases CCP server despite Eurex delays
Rolfe & Nolan, the UK back-office software provider, has released a clearing counterparty (CCP) server for exchanges and clearers. The release comes despite the server’s new functionality for Eurex Clearing’s Equity CCP being likely to remain idle due to…
CBOE Direct launched after several delays
The Chicago Board Options Exchange (CBOE) has launched CBOE Direct, a screen-based trading platform for members trading selected products before the open-outcry trading floor starts for the day.
McDaniel to head of Moody's investor services
International rating agency Moody's has made Raymond McDaniel president of Moody's investors service. He will manage Moody's global ratings and research businesses following a 14-year tenure with the firm.
TFS-Icap teams up with Volbroker
Joint venture interdealer FX options voice broker TFS-Icap has struck a deal with bank-owned trading platform Volbroker to integrate Volbroker's electronic capabilities into TFS-Icap.
Regulated market sees steep rise in activity
Major derivatives exchanges have seen a sharp rise in regulated trading activity in the past ten months, driven by the wider use of derivatives as hedge products and trading opportunities created by increased volatility.
Merrill restructures global debt markets
Dow Kim, Merrill Lynch’s new head of global debt markets, has named a series of new team leaders that will spearhead Merrill’s drive to integrate its cash, derivatives, origination, structuring and marketing of debt products.
Tremont, RiskMetrics to improve hedge fund risk reporting
Tremont Advisers, the global provider of hedge fund investment management services, has established a joint venture with RiskMetrics, which provides financial analytics, benchmark risk measurement and wealth management tools. The two companies are…
Argentina debt swap declared a 'default'
Attempts by Argentina's economy minister Domingo Cavallo to change the structure of $132 billion of his country's debt, has received a damaging response from international credit rating agency Fitch. Fitch stated that the move constitutes "a distressed…
SunGard appoints two new presidents
SunGard Trading and Risk Systems has appointed new presidents to lead two of its operating units. Paul Murphy becomes president of SunGard Collateral and Steve Husk joins as president of Credient/Infinity. Both Murphy and Husk will report to Jim Ashton,…
Cessation of 30-year Treasury bonds raises dealer fears
The decision last week by the US Treasury to stop issuing 30-year bonds caused a significant amount of activity in the markets, as traders sought to adjust to the surprise news. Spreads in 30-year US dollar interest rate swaps widened by 12 basis points…
Deutsche enhances online risk system
Deutsche Bank has added two major components to its DBIQ online analysis system that will allow analysis of structural risks and present value-at-risk (VAR) analysis through full Monte Carlo simulation. The DBIQ portfolio system and DBIQ risk system…
RMS launches new daily model for Climetrix
Risk Management Solutions (RMS), the California-based provider of products and services for the management of natural hazard risks, has released an advanced daily temperature simulation model that offers a new capability for valuing weather derivatives…
IFS calls in receivers, seeks buyer
FX trading technology firm IFS has gone into receivership following an unproductive takeover of Dene International and a drop in sales of its flagship product, a spokesperson for the firm said.
ICE promotes Marcial to CTO
Atlanta-based online commodities exchange, IntercontinentalExchange (ICE), has promoted Edwin Marcial from vice-president, technology, to senior vice-president and chief technology officer. ICE says the appointment emphasises the importance of its…
Clearstream prepares for takoever
Clearstream, the European clearing and settlement house, is in the process of speaking with rival body Euroclear and Deutsche Borse over plans for a takeover. Clearstream’s Luxembourg-based board will consider both proposals, which outline the indicative…
Nomura adds to capital markets business
Nomura International has made a number of new hires to its capital markets business, in a move to leverage its position in the yen markets. Nomura also says the new hires should broaden the origination capabilities of its fixed-income business.
West LB commodities desk signs up with OpenLink
The global financial markets unit at Germany's West LB is to use New York-based OpenLink's Endur trading, risk management and transaction processing system for its energy and precious metals trading desk in London.
S&P unveils new ratings model
International rating agency Standard & Poor's is to introduce a new partial guarantee model to help companies seeking to upgrade their credit ratings. The model marks a move away from the weak-link rating approach currently being used, where corporations…
Fidelity forex unit adopts FNX’s Sierra
Fidelity forex, a unit of Fidelity Capital Markets that provides foreign exchange (FX) pricing to institutional investors, has implemented the Sierra Treasury System developed by FNX, a provider of straight-through processing solutions to the global…
S&P unveils new ratings model
International rating agency Standard & Poor's is to introduce a new partial guarantee model to help companies seeking to upgrade their credit ratings. The model marks a move away from the weak-link rating approach currently being used, where corporations…