Commodities

Learning from losses

Published online only

Source: Energy Risk

Energy and commodity markets have staged impressive growth in the past 15 years, but there have also been some eye-watering failures along the way. Katie Holliday considers what has been learnt from these catastrophes, and whether derivatives scandals...

Energy Risk | 03 Jul 2009  

Penalties and censures

Hackers in the dock for £229m Sumitomo fraud

Original headline: Losses & Lawsuits

Source: Operational Risk & Regulation

London - Hackers accused of a £229m Sumitomo heist have faced fraud charges in court. Prosecutors allege a gang of thieves broke into the London office of Japanese bank Sumitomo Mitsui and installed spy-ware software key-logging computers, making off...

SMBC reprimanded over forced swaps sales

Published online only

Source: Risk magazine

Japanese regulators have criticised Sumitomo Mitsui Banking Corporation for compelling customers to buy interest rate swaps in exchange for extended loans.

Technology

Technology news

Original headline: Oil

Source: Energy Risk

Shipley tangoes with Triple PointPennsylvania-based Shipley Energy has licensed Connecticut-based Triple PointTechnology’s Tango energy trading system. Shipley will implement the systemin its York headquarters to manage the activities associated with...

Energy Risk | 07 Nov 2003  

Technology

Sumitomo Corporation installs FNX’s Sierra

Published online only

Source: Risk magazine

Japan’s Sumitomo Corporation has installed FNX’s Sierra System to support its strategy of complete straight-through processing (STP) for its commodities, exchange-traded products and swap-trading operations.

Credit Derivatives

Sumitomo closes Japan’s first CDO backed by structured finance transactions...

Published online only

Source: Risk magazine

Tokyo-based Sumitomo Trust and Banking (STB) has closed Japan's first synthetic collateralised debt obligation (CDO) referenced to a semi-managed portfolio of structured finance transactions. The deal was worth ¥70 billion ($591 million).