Energy
JP Morgan names most vulnerable European corporates
US investment bank JP Morgan Chase named ABB, Alcatel, Alstom, Deutsche Telekom, Ericsson, Fiat, France Telecom, ICI, Invensys, Repsol-YPF, Rhodia, Vivendi Universal as the most exposed credits post-WorldCom in its latest credit research report.
SolArc
Technology
Pulling in different directions
Can Opec ever achieve harmonised foreign investment rules? Maria Kielmas talks to former Algerian energy minister Nordine Aït Laoussine – who says it will never work – and to harmonisation’s biggest supporter and architect Bernard Mommer, special adviser…
CLNs come of age
Technical
Bondholders versus shareholders
Sponsored article
Equity poses the big questions
Roundtable
Why won’t banks grasp the op risk nettle?
OP RISK MANAGEMENT
Q1 scapegoats: energy and weather
Risk’s second quarterly round-up of corporate risk disclosures provides some evidence that companies are becoming more forthcoming. But losses on hedgeable exposures, especially energy and weather, continued to plague many
An aggressive agenda
Dresdner’s chief risk officer, Heinrich Linz, is masterminding a credit revolution at the German bank.
A crisis of identity
Recent news stories have highlighted a controversy over identification of the specific reference entity in certain credit derivatives contracts. Troubling as this is, it reflects a more pervasive lack of discipline among financial institutions. In this…
SMBC launches summer weather derivatives
Japan’s Sumitomo Mitsui Banking Corporation (SMBC) has recently launched a weather derivatives contract for unusual hot and cold summer temperatures in Japan, according to an official for the bank.
Tools for the trade
Credit Risk
Totem launches valuation system to help energy traders
Totem Market Valuations, the London-based valuation clearinghouse, has launched a new service for energy traders. Totem’s energy derivatives valuation service is designed to give traders in over-the-counter energy contracts a market price gleaned from a…
Brokers launch marine fuel hedging service
US brokers OceanConnect and Starsupply plan to launch the first bunker fuel derivatives contracts by July 8.
Aquila cuts energy staff, seeks partner
US energy company Aquila, which announced plans to wind down its energy derivatives trading book yesterday, took a large step towards doing so today by letting go 44% of its Merchant Services energy risk management workforce worldwide, including 71 of…
NAB offers soft commodity hedging in Australia
National Australia Bank (NAB) has launched a range of soft commodity hedging products to cater for the country's large agricultural sector.
Risk 2002 USA: Convergence opportunities growing
Growing product crossovers between the insurance sector and the derivatives markets have provided a range of attractive risk transfer opportunities, according to participants in a panel discussion on convergence at Risk’s 8th annual US congress in Boston…
IAIS credit risk transfer investigation sees worrying trends
The Basel-based International Association of Insurance Supervisors (IAIS), which represents insurance supervisory authorities of some 100 jurisdictions, said it is concerned that some insurance companies active in the $1 trillion credit derivatives…