Feature
Volatility dealers’ conundrum
Margins on dollar-denominated swaptions and constant maturity swaps have narrowed sharply. This is great for clients, but dealers are caught in a bind. Gallagher Polyn asks why
Job moves
QUOTE OF THE MONTH: - “An infectious greed seemed to grip much of our business community” Alan Greenspan, on the corporate governance scandals hitting the US Source: Reuters, July 16
Strategic shortcomings
A survey of 13 private banks’ risk management practices reveals some dangerous shortcomings. Lisa Kastigar of Sherwood Alliance, a Switzerland-based financial consulting firm, examines the challenges for risk managers at these institutions
Clearing the obstacles
Credit quality is essential to every energy firm’s success, as recent problems at Aquila and Dynegy attest. Couple this with the post-Enron threat of increased regulation for OTC energy derivatives and it is clear that the energy trading market needs…
Serving the credit funds
Hedge funds initially used default swaps for simple hedging. Now, credit arbitrage is de rigueur, and it is inspiring dealers to reassess and restructure their own businesses in response
From strategy to tactics
Effective tactical use of risk management information has long been an aspiration of many organisations, but technical obstacles have stood in the way. In this third of four articles on integrated credit risk management, David Rowe argues that the…
Running for cover
Energy
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.