The world's major derivatives dealers have signed up to the International Swaps and Derivatives Association’s long-awaited ‘Novation Protocol’, which seeks to facilitate the transfer of existing trades to third parties.
Tradition Financial Services (TFS) has become the latest inter-broker to enter the property derivatives fray.
Royal Bank of Scotland (RBS) has poached an eight-strong team from Shinsei Bank in Tokyo to extend its leveraged finance business into Asia.
Deutsche Bank has hired two foreign exchange structurers to work in its client strategy and solutions (CSS) group in London.
Credit Suisse First Boston has promoted Greg Richter to co-head of its New York cash collateralised debt obligation (CDO) business, part of a wider restructuring of its CDO operations.
Barclays Capital has hired Nick Nassuphis as head of equity exotic and structured product derivative trading.
Electronic bond trading platform company MarketAxess has teamed up with the Depository Trust & Clearing Corporation's (DTCC) and 11 global dealers to create an electronic client-to-dealer trading platform for credit default swap (CDS) indexes. The CDS...
HSBC has hired six sales and trading staff from Credit Suisse First Boston (CSFB), including Patrick Haskell, CSFB’s former head of US interest rate products. Haskell joins HSBC Securities as a managing director and head of its rates business in North...
Credit Suisse First Boston (CSFB) has launched its derivatives broking business in Taiwan. The bank will trade futures and options listed on the Taiwan Futures Exchange (Taifex) for qualified foreign and domestic clients.
Financial institutions face major challenges in modelling credit portfolio risk, particularly in the field of CDOs. Walter Schulte-Herbrüggen and Gernot Becker argue that the main challenge will be in model testing, due to the increasingly customised...
French banking group BNP Paribas has announced two appointments in its fixed-income business servicing German, Austrian and Swiss corporates.
Credit Suisse First Boston (CSFB) has hired Konstantin Krebs as a director of fixed-income derivatives sales.
Merrill Lynch is slated to join a growing array of major sell-side firms that will allow third-party access to their algorithmic trading engines.
ABN Amro last week joined the elite group of foreign banks authorised to trade foreign exchange derivatives in China after winning a licence from regulator the China Banking Regulatory Commission, reports RiskNews’ sister publication, FX Week .
The China Banking Regulatory Commission (CBRC) has extended the transition period for its new derivatives licensing regime, giving banks an extra three months to get licences in place that will allow them to trade derivatives onshore.
Credit Suisse First Boston has hired Melissa Allen from BNP Paribas as a director within the European financial control department.
The China Banking Regulatory Commission (CBRC) authorised Credit Suisse First Boston (CSFB) to launch a financial derivatives business in China last week, reports RiskNews’ sister publication, FX Week .
BNP Paribas has hired Matthew Schultheis as director and head of sales for its Chicago office.
Sanjeev Gupta, formerly a managing director for credit derivatives at Credit Suisse First Boston (CSFB), has come out of retirement to help spearhead the build-up of Royal Bank of Scotland’s (RBS) integrated credit business in the US.
Carl Nabar has joined French bank BNP Paribas in New York as a senior foreign exchange derivatives trader.
Dresdner Kleinwort Wasserstein (DrKW) has created a new quantitative trading team in London. It started trading this month and focuses on statistical arbitrage strategies.
Charlotte-based Banc of America Securities has hired Peter Nguyen from Credit Suisse First Boston (CSFB) as head of credit derivatives specialist sales. He will lead the credit derivatives sales effort to hedge funds, banks and other frequent credit product...
Boston-based private equity group Thomas H Lee Partners (THL) will acquire a majority stake in Refco, a New York-based financial services firm involved in derivatives execution and clearing, as well as a provider of prime brokerage services for fixed...
Dallas-based TXU has entered into a joint partnership with Credit Suisse First Boston (CSFB) to create an independent entity to market and trade power, natural gas and other energy-related commodities in North America.