News
Kiodex launches web-based risk application
Kiodex, a US-based provider of Web-based risk management solutions for the commodity markets, has launched its flagship risk management application, the Kiodex Risk Workbench. The product is designed to assist corporations in managing their earnings…
BoA promotes Fall to head of EMEA
Bank of America has promoted William Fall, its head of global risk management, to president for Europe, Middle East and Africa (EMEA). He replaces Douglas Bowers, who has been based in London for the past eighteen months and is relocating back to the…
Cygnifi files for Chapter 11
JP Morgan spin-off Cygnifi, the New York-based online derivatives service provider, has filed for voluntary Chapter 11 bankruptcy. During its Chapter 11 process, which is expected to take at least 90 days, Cygnifi said it will seek buyers for its assets…
TCG founder steps aside
Terence Chapman, founder of the Terence Chapman Group (TCG), the specialist provider of IT consultancy services to the finance sector, has stepped aside as chief executive.
Lehman to move main New York ops into one office
Lehman Brothers plans to move its entire New York operation into Morgan Stanley's new office tower at 745 Seventh Avenue as early as January 2002, officials at Lehman have told RiskNews’ sister publication FX Week (www.fxweek.com).
S&P offers CDO manager ratings on the Web
International debt rating agency Standard & Poor’s (S&P) has begun offering evaluations of collateralised debt obligations(CDOs) managers for free on its website. While the move appears timely given the current turbulent environment for non-investment…
CMC becomes latest e-FX loser
Currency Management Corporation (CMC), one of the longest-serving firms in the retail and mid-market online FX trading industry, has pulled out of the US. The UK company, which carried out its first online FX trade in 1996, said this was in response to…
Venture capitalist replaces Sandor on Liffe board
The London International Futures and Options Exchange (Liffe) has appointed Chinh Chu, senior managing director of private equity at New York-based venture capital firm, The Blackstone Group, to its board. He replaces derivatives veteran, Richard Sandor,…
Fimat improves online futures system
The Fimat Group, a brokerage unit of Société Générale, has launched a new customisable version of its Web-based customer interface system, Fimacis.
Major South African firms renew Algo contracts
Four of South Africa's leading corporations have renewed market risk management services contracts with Toronto-based risk management solutions provider Algorithmics
Decline in OTC derivatives for Singapore
Over-the-counter (OTC) derivatives turnover in Singapore has fallen 44% in the last three years, the Singapore Monetary Authority (MAS) has reported to the Bank for International Settlements (BIS). Average daily OTC derivatives turnover was $6.3 billion…
Icap recovering after WTC tragedy
Icap, the world’s largest interdealer broker for interest rate swaps, has substantially rebuilt its New York broking business following the loss of its entire New York offices, which took up three levels in the World Trade Center (WTC).
KWI appoints senior board members
KWI, the London-based supplier of trading and risk management systems for the energy market, has made two board-level appointments as part of an effort to grow its business.
DerivaTech appoints Tennola to new COO role
DerivaTech, the Chicago-based currency derivatives software solution provider, has named Paul Tennola chief operating officer (COO), a newly created position.
Euronext uncorks wine futures
The combined Paris, Brussels and Amsterdam bourse, Euronext, has started trading its wine futures contract, Winefex, after its launch date was postponed due to the September 11 terrorists attacks in the US. The publicly quoted exchange said it is trading…
S&P moves to rate hedge fund of funds
International rating agency Standard & Poor’s (S&P) has started to develop ratings criteria for securitisations of hedge fund of funds, due to growing interest in the past year from structured finance teams at investment banks.
Asia credit set to recover, claims ING Barings
Asian credit is set to recover by the end of the year, as domestic investors regain confidence and return to the region, according to ING Barings’ analysts, speaking at a press conference in Hong Kong today. Asian credit spreads have widened sharply in…
IntesaBCI selects mpct’s CLS Server
Italy's largest banking group, IntesaBci, has selected mpct Solution’s CLS (Continuous Linked Settlement) Server to power its CLS services, which will run on the Sun Solaris Unix platform at the bank's Milan headquarters.
New CEO for MTS Japan
Fabrizio Lavezzari had been named as the new chief executve of MTS Japan, the electronic platform for Japanese bonds. He replaces William Campbell, who a senior MTS official said had left to pursue other personal and business interests. The official said…
Reuters snares Trott for RTS
International financial information and trading technology provider Reuters has talked former Bank of England chief forex dealer Jim Trott out of retirement to join the firm as strategic and commercial manager for Reuters Treasury Services (RTS).
Inreon sees limited deal volumes
Online trading platform Inreon has seen a number of transactions completed on its internet-based reinsurance trading platforms, but volumes have been muted, with a total value of $30,000 to $600,000 (inreon declined to provide specific figures) through…
Basel may scrap IRB floor
A US bank regulator has said the Basel Committee will soon abandon its controversial 90%, two-year floor on the benefit banks can reap by moving to the advanced internal ratings based (IRB) regulatory capital technique under the Basel II Capital Accord.
Regulated derivatives see record trading
Derivatives exchanges have seen strong rises in trading volumes at a time when the take-over battle intensifies for the London International Financial Future and Options Exchange (Liffe).
Risk expert Zakaria takes a top post at Merrill
Merrill Lynch has promoted its corporate head of risk management, Arshad Zakaria, to co-head its corporate and institutional client group (CICG). He will have executive responsibility for global investment banking, debt, equity and securities services…