Risk magazine/News
GFI offers repo traders a new derivatives tool
New York-based interdealer broker GFI has added forward allocation general collateral (FAGC) repurchase agreements and corporate bond repos to its GFInet European trading screen.
NSSB hires fixed-income derivatives structurer
Nikko Salomon Smith Barney (NSSB) has hired Tatsuya Takeda as a director in its fixed-income derivatives team, according to an official at the bank in Tokyo.
PRMIA to offer rival exam to Garp
The Professional Risk Managers’ International Association (PRMIA) will launch its own certified risk manager programme in competition with the financial risk manager (FRM) exam offered by the Global Association of Risk Professionals (Garp).
Crude futures hit six-month highs
Crude oil futures on the New York Mercantile Exchange (Nymex) hit six month highs of $25.61 a barrel (bbl) on March 21 as a combination of rising demand, continued supply curbs and fears of US action against Iraq drove prices higher.
Patsystems' Jones survives no-confidence vote
The results of patsystems' extraordinary general meeting (EGM) held yesterday could not have produced better results from the perspective of the London-based independent software vendor’s current management team.
FSF chair backs SPVs but calls for better disclosure
The Financial Stability Forum (FSF), a body of national supervisors set up in 1999, has emphasised the need for greater disclosure and corporate governance in the wake of a number of high-profile bankruptcies, at its first meeting following the collapse…
US insurer hires credit derivatives specialist
American Capital Access (ACA), a US financial insurance specialist, has hired Joseph Pimbley as its credit derivatives portfolio manager.
Man Group’s performance remains solid
Man Group - the UK asset manager and derivatives brokerage – has released its pre-close trading results, with funds under management currently standing at $10.5 billion – a 57% increase on the previous year.
Swiss Re Financial Services names Godfrey as chief risk officer
Swiss Re Financial Services Business Group, a unit of reinsurer Swiss Re, has hired David Godfrey as chief risk officer.
Prebon launches online FRA matching system
Brokerage house Prebon Yamane Asia-Pacific has launched an online matching system for floating rate reset risk positions in swap portfolios for Australian dollar (A$) and Hong Kong dollar (HK$) currencies.
Derivatives expert Calello made new head of CSFB Asia-Pacific
Credit Suisse First Boston (CSFB) has named Paul Calello chairman and chief executive of the Asia-Pacific region including Japan, Australia and New Zealand. He will relocate to Hong Kong from New York, where he was head of the firm's global equity…
Derivatives unit unaffected by ABN Amro cuts
ABN Amro's decision effectively to pull out of the US cash equities and M&A business will leave its derivatives business intact.
Credit derivatives majors form data alliance
Goldman Sachs, Deutsche Bank and JP Morgan Chase have launched a credit derivatives market data scrubbing and sharing project meant to head off disputes among market participants over the terms of their contracts.
CSFB hires structurer in NY
Tony Capozzoli has joined Credit Suisse's investment banking arm, CSFB, in New York as a corporate structurer, leaving his role as a senior risk analyst at Bank of America, also on Wall Street.
IPE pulls ‘premature’ power contract
London’s International Petroleum Exchange (IPE) has suspended trading on its electricity futures contract. The instrument, which has traded only 70 lots since its launch in March last year and nothing since the five lots it traded in January, has…
CBOT appoints new head of business and product development
The Chicago Board of Trade (CBOT) has named Martin Reiner senior vice-president in charges of sales, marketing and product development. The appointment is important, as the CBOT and rival Chicago-based derivatives exchanges, the Chicago Board Options…
Singapore eases restrictions on foreign derivatives firms
The Monetary Authority of Singapore (MAS) has liberalised its Singapore dollar non-internationalisation policy, to allow greater participation in its capital markets by international investors and financial institutions.
DGZ DekaBank to implement RiskVision
DGZ DekaBank, a German financial institution specialising in wholesale banking and fund management, has agreed to roll out London-based financial services vendor Misys International Banking Systems’ Risk Vision suite.
ABN Amro steps up credit derivatives effort
Dutch bank ABN Amro is steadily building up its credit derivatives team under Arnie Groes, its new head of global credit derivatives.
Cap guarantee funds still booming in Hong Kong
Several capital guaranteed funds have been issued in Hong Kong over the last few weeks, with more expected before the end of the month, despite a consensus that a rise in interest rates may reduce the attractiveness of such structures.
China opens forex market
A flurry of overseas banks have received approval from the People’s Bank of China (PBOC) to conduct foreign currency business with Chinese corporate and individual customers – the first tangible deregulation of the financial market since China’s signing…
ICE aims to sell energy and metals market data
The Intercontinental Exchange (ICE), the Atlanta-based electronic commodity and derivatives market, aims to sell price data and other information services to the energy and metals markets.
Prebon backs coal growth
Prebon Energy, the New Jersey brokerage firm that specialises in physical and financial energy products, has opened a coal desk.
Korea drives Asian option growth
Turnover in equity index contracts rose by 40% at Asian exchanges in the fourth quarter of last year, according to the latest quarterly report from the Bank for International Settlements (BIS). The Switzerland-based banking body pointed to the rapid…