The cost of credit protection for Commerzbank has nearly doubled over the last week. The widening follows rumours of large credit derivatives trading losses at the German bank and a cut in its long-term credit rating from A to A- yesterday from Standard...
Jeremy Howard, head of US convertibles research at Deutsche Bank in New York, has said that the days of buying low-strike equity put options to hedge sales of credit default swap protection are largely gone.
The cost of credit protection for European banks has widened significantly this week as negative fundamentals dominated market sentiment. Five-year credit default swaps for major European banks widened between 1 to 10 basis points for senior protection...
Deutsche Bank has appointed Erik Falk as head of its global markets division’s Relative Value group sales team, covering all credit products including cash bonds and credit derivatives. The group targets institutional clients including reinsurance companies,...
180 risk professionals gathered in London last month to discuss the practical implications of implementing Basel II. National discretion, economic capital models and data collection and consistency were all hot topics at this PRMIA/ISDA-hosted event.
Equity weakness continued to dominate the direction of European credit default swaps, pushing the cost of protection wider for volatile insurers and telecoms.
HSBC has appointed Ferruccio Ferrara from Deutsche Bank as European head of FX derivatives marketing.
The cost of protection for German reinsurance company Munich Re and German banks Deutsche, Commerzbank and Dresdner widened today following negative rating and outlook changes by Moody's Investor Services.
FRANKFURT, GERMANY - The Operational Riskdata eXchange Association (ORX), a not-for-profit venture to pool op risk loss data resources, expects its operational risk database to be operating by the end of 2002, Fred Peemoeller, chief risk officer, operational...
The UK's HSBC has set up a proprieatry foreign exchange trading desk in New York to be run by Dominic Larche.
Deutsche Bank has launched a $1.33 billion synthetic collateralised debt obligation (CDO) that will be managed by an Asian asset manager for the first time.
OpenLink, a New York-based trading and risk management software company, has released its Open Settlement Solution - an integrated Society for Worldwide Interbank Financial Telecommunication (Swift) messaging capability for its Findur system. Evaluating...
Two former employees of defunct multi-bank FX tradingportal Atriax were last week hired by rival portal FXall. Keith Hill joins FXall in London as head of Europe, Middle East and Africa sales, while Michelle Bachmann-Love was made head of North America...
Lehman Brothers has hired Tetsu Serizawa as managing director and head of fixed-income sales in Japan.
The 300-year-old statistical methods of Thomas Bayes are experiencing a renaissance.
Can a firm cut costs while increasing operational risk controls? This is just one of the many challenges facing the investment industry.
RiskMetrics Group, the New York-based software company, has expanded its CreditGrade risk measurement system in Asia to include data on Japanese firms.
Deutsche Bank has hired Giovanni Pillitteri as a London-based quant for its foreign exchange structured trading team.
A handful of banks have begun marketing increasingly complex credit structures to yield hungry institutional investors in Asia, amid low interest rates and under-performing stock markets around the region.
In line with its top-tier rivals, Deutsche Bank has bucked the mid-tier trend of lower forex earnings from reduced market volatility, to report a 15% increase in first-half FX profits.
Traders have seen a big increase in demand for debt protection on European bank debt, following a string of results announcements that saw a big increase in bad debt provisions, along with disappointing profits at European banks.
Deutsche Bank has appointed Barry Bausano as managing director and global head of hedge funds in its New York global markets division.
French technical analyst forecasting company BBSP has launched a service that charts and forecasts implied volatilities for currencies, officials at the firm said.
Deutsche Bank has hired Raj Shourie to head its Asia ex-Japan securitisation group, say bank sources.