Foreign exchange
Institutions still fall short on risk management
As financial institutions raise their focus on risk management, most still consider their assessments of risk to be insufficient, according to Deloitte’s global risk management survey.
FXMarketSpace opens for business
FX MarketSpace, an international foreign exchange trading platform run by Reuters and the Chicago Mercantile Exchange (CME), started operations today.
Four in ten EU firms to miss Mifid deadline, survey says
Handysoft-sponsored survey suggests only four in ten financial institutions will be ready to implement Mifid by the November 1 deadline.
Canada and Australia risk banking crisis, Fitch says
Canada and Australia are running the risk of a banking crisis of the type that hit Iceland in 2006, according to a report from Fitch Ratings.
Canara Bank of India and Robeco to launch asset management venture
Canara Bank of India, and asset manager Robeco of the Netherlands, are to set up a joint asset management venture in India. The joint venture, Canara Robeco Asset Management, which is still subject to regulatory approval, aims to offer mutual funds,…
BIS: highest CDO issuance ever but slowed overall derivatives trading
Global issuance of funded collateralised debt obligations (CDOs) reached a record $489 billion in 2006, showing strong investor interest in structured products. Synthetic CDO issuance also surged last year, doubling to $450 billion from 2005 issuance…
PRMIA/SunGard deliver RAPM survey
PRMIA and SunGard out with survey on the current use of risk-adjusted performance measurement (RAPM) in business decision-making processes.
IIF special committee releases liquidity risk report
Institute of International Finance publishes new report, Principles of Liquidity-Risk Management.
Juice Energy secures investment
Recently formed US power retailer Juice Energy has announced that it has secured significant capital commitments from a high-calibre group of investors.
SSE to promote equity-linked structured products
The Shanghai Stock Exchange (SSE) is to promote the development of structured products such as covered warrants in 2007. According to a statement issued by the exchange, promoting the listing of innovative financial products is one of the nine tasks that…
ICE proposes $10 billion merger with CBOT
The IntercontinentalExchange (ICE) has made a proposal to the Chicago Board of Trade to combine the two companies in a stock-for-stock transaction that would create the world’s most comprehensive derivatives exchange, ICE announced today.
Merc and Hong Kong move on China index futures
The Chicago Mercantile Exchange (CME) will launch a US dollar-denominated futures contract based on the FTSE/Xinhua China 25 index on May 20, CME executives said in Hong Kong on Wednesday.
Powernext to launch spot contract for CERs
French energy exchange Powernext and financial institution Caisse des Dépôts are working together to launch the first exchange-traded spot contract for certified emissions reduction (CER) credits
JP Morgan launches first public international longevity index
Investment bank JP Morgan yesterday launched the first publicly available international index to trade longevity risk, in a bid to lead the development of a derivatives market.
Lehman buys 20% of DE Shaw
Lehman Brothers has purchased a 20% stake in DE Shaw group, a $29 billion New York-based hedge fund. The deal, which closed on March 12, involves an up-front payment and future performance-based payments.
Shedding shackles
The expected approval of new financial rules in Korea in the coming months should liberate the country's financial markets and bolster financial efficiency. But domestic banks are far from happy.
Under the yoke
The Reserve Bank of India released its long-awaited draft derivatives regulations in early December. But far from opening the market up to a wider universe of products, dealers complain the derivatives market has been reined back in.
Singapore stakes its claim
The lion city is pushing for a slice of the fast growing Islamic finance market - a move that may put it on a collision course with its more established peers, notably Malaysia.
Reddy appointed chairman of BIS ACC
Yaga Reddy has been appointed chairman of the BIS Asian Consultative Council