Bank One's former forex options chief Justin Foley is joining Gelber Trading, a division of Chicago-based trading firm Gelber Group, to set up a new foreign exchange desk in September, according to RiskNews’ sister publication, FX Week .
JP Morgan Chase’s (JPMC) plans to absorb Bank One’s global foreign exchange trading business became clear last week, following the completion of the US banks’ merger on July 1, reports RiskNews’ sister publication FX Week .
The first casualties from JP Morgan Chase’s upcoming purchase of Bank One – due to complete on July 5 – emerged last week with the news that both the Chicago-based bank’s foreign exchange heads in London are leaving, according to RiskNews’...
JP Morgan Chase, the bank with the largest exposure to derivatives in the US, is set to increase its lead with the takeover of Bank One. The derivatives exposure of the combined banks will approach $35.5 trillion, nearly 54% of the combined value of the...
Four more banks have become credit default swaps market-makers on iBoxx CDX, a tradable index of credit default swaps on 125 investment-grade US companies. This brings the total number of licensed market-makers to 15.
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...
Bank One’s former head of currency forwards, Paul Smith, will rejoin the company in London tomorrow (November 11) as a senior euro forwards trader, a senior official told RiskNews’ sister publication FX Week .
Wachovia Bank has hired two institutional foreign exchange dealers in London, as part of a global drive to increase its institutional forex business.
Top-tier banks are moving to set up core groups of client-facing options specialists, turning away from a previous trend to re-train all sales dealers to have derivatives expertise.
Bank One has hired two senior dealers to set up a new foreign exchange options desk in London, a senior official at the Chicago-based bank told RiskNews' sister publication, FX Week .
Bank One hired two FX traders in March, continuing a build-up in spot and options trading begun earlier this year.
Outsourcing could be the key to institutions keeping up with the cost of installing technologies able to cope with CLS, Basel II and STP, and could provide a vital comfort zone in future-proofing your IT.
Dan Parker, chief executive of Atlanta-based Weather Board of Trade (WBOT), today told RiskNews that two institutions he originally named as charter members of the weather derivatives exchange never had such an agreement with the company.
Atlanta-based Weather Board of Trade (WBOT) has missed its planned February 2003 launch date, and its viability has been called into a question by a number of market participants. The online weather derivatives exchange originally planned to launch in...
Chicago-based Bank One is set to hire six foreign exchange options staff around the world in a bid to capture more top-tier corporate business.
The Institute of International Finance (IIF) has named Peter McCarthy as deputy managing director with responsibility for regulatory activities.
Bank One is hoping to expand its global interest rate derivatives trading business by replacing decade-old customised trading software with new off-the-shelf technology.
Jessica James has joined the investor team of CitiFX in London's risk advisory group. She reports to Laurent Desbois, head of risk advisory.
TFS Energy and Banc One Capital Markets have formed a strategic partnership to provide a single clearing process for both over-the-counter (OTC) and exchange-traded energy products.
Algorithmics is strengthening its credit risk management offering as demand grows for more comprehensive credit solutions. It is integrating a number of Standard & Poor’s credit data products with its analytical tools and developing a new module to...