Feature
Beyond the pail
Basel accord
Bear Stearns ramps up Asian equity derivatives business
Bear Stearns has hired Kin Cheung to head its equity derivatives trading business in Asia, including Japan. Cheung will report to Steve Meyer, senior managing director and head of global equity derivatives trading in New York, and Leonard Feder, senior…
FXall customises e-FX trading site for Nestlé
Multi-bank FX trading portal FXall has created a customised trading and information Web platform for the world’s biggest food company, Switzerland's Nestlé.
Lehman Brothers reshuffles insurance risk products group
Lehman Brothers’ insurance products group, which structures catastrophe risk securities and other insurance liability management products for reinsurers, has been merged with Lehman’s insurance strategies group. Insurance strategies, which now numbers 21…
Bank of Tokyo-Mitsubishi to use OpVar on a global basis
Bank of Tokyo-Mitsubishi (BTM), the Japanese banking institution, plans to use OpVar, the operational risk management application, on a global basis. OpVar was developed by US risk software firm OpVantage, which Fitch Risk Management bought earlier this…
Japan Credit Market Update: Spreads widen on global equity nervousness
Japan’s credit default swap spreads widened across the board by about 20 basis points this week amid global equity nervousness, because of more corporate concerns, and a generally bearish market.
Brent’s liquidity crisis
The decision by energy information provider Platts to alter the definition of its Brent benchmark price has forced the issue over the crude blend’s liquidity problems, reports Matt Horsbrugh
Barclays Capital brings in Stephen Jones
Barclays Capital, the investment banking division of Barclays Bank, has hired Stephen Jones as its London-based head of corporate risk management for Europe and head of the newly formed financing solutions group.
European banks report decline in equity derivatives volumes
Despite another surge in implied volatility this month, the European equity derivatives business has seen a decline in volumes in 2002, say dealers. Implied volatility on the FTSE reached a high of 39.5% this month, compared with the average daily figure…
SEC lifts final barrier to single-stock futures trading
The final barrier to the trading of single-stock futures (SSFs) in the US was removed yesterday when the Securities and Exchange Commission (SEC) approved customer margin rules. Earlier this month, the SEC’s regulatory partner, the US Commodity Futures…
French securitisation ruling likely to be delayed further
The French banking regulator ruling to change the capital risk weighting system on securitisations continues to cause confusion, with market commentators stating that a final decision may be delayed until September.
UK details three-phase Basel II implementation plan
UK regulators said today they plan a three-phase implementation of the Basel II capital Accord and parallel European Union banking rules with a target date of December 31, 2006.
LCH and x-clear to launch pan-European CCP next year
The London Clearing House (LCH) and Swiss central counterparty (CCP) x-clear are to launch a pan-European CCP structure in March 2003 for pan-European cross-border equity exchange virt-x.
ABN Amro continues credit derivatives expansion
ABN Amro has made Terri Duhon its London-based head of credit structuring and head of exotics trading, a newly created position. Duhon is the latest in a string of senior credit derivatives hires for the Dutch Bank in London, New York and Singapore.
DePfa implement complete Basel II compliant risk manager
DePfa Bank has completed the implementation of the Kamakura Risk Manager suite having purchased the license in late 2001. The system is the first to completely integrate credit risk, market risk, asset and liability risks and meets the needs of Basel II.
Enel waits on liberalisation
Technology
TXU finds the right combination
Technology
2002 system frontrunners
TECHNOLOGY
The software needs of the credit-wary
Technology
Upbeat Basel regulators will issue QIS3 guide next week
Global banking regulators said they plan to issue banks next week with an information package on a crucial survey that in October will seek information on how banks might be affected by the Basel II rules on bank protective capital.
Regulators say main Basle II issues agreed
Global banking regulators believe there are now no substantial issues remaining with the complex Basel II rules on bank capital following an agreement on key issues announced today.
TD Securities to upgrade derivatives trading and risk system
TD Securities, the wholesale banking arm of TD Bank Financial Group, has teamed up with NumeriX, a provider of exotic derivatives data and analysis, to upgrade its trading and risk management system.
MSCI launches hedge fund indexes
Morgan Stanley Capital International (MSCI), a provider of benchmark financial indexes, has launched a family of hedge fund indexes today following a two-and-a-half year development process. The new group includes more than 90 indexes calculated on a…