Foreign exchange
Algo trading to double, says Eurex
"The rise in activity of algorithmic traders is impressive, and it’s changing the nature of electronic trading,” said Andreas Preuss, chief executive of Eurex, a Frankfurt-based futures and options exchange that is jointly operated by Deutsche Börse and…
Clearing houses may face greater competition
David Hardy, former chief executive of London-based clearing house LCH.Clearnet, warned that clearing houses may face greater competition if they don’t lower fees and provide more services. Speaking to RiskNews at the Futures and Options Expo in Chicago,…
ISE publishes rates for FX options launch
The International Securities Exchange (ISE), a New York-based electronic equity options exchange, has began publishing the underlying rates for foreign currency options product, ISE FX options.
DDQ nabs HSBC’s Chris Taylor
Dawnay Day Quantum (DDQ), the London-based specialist investment manager, has hired Chris Taylor as managing director of its Structured Investments division. He is charged with developing DDQ’s structured investments business.
Cadwalader, Wickersham & Taft promotes structured products lawyers
Law firm Cadwalader, Wickersham & Taft has promoted 24 attorneys to the position of special counsel. And a number of these lawyers have been promoted thanks to their work in structured products.
Robeco to list Clean Tech certificates on Euronext Amsterdam
Robeco, the asset management arm of Rabobank, has launched a certificate linked to a fund of private equity funds that invest in unlisted companies active in the field of clean technology. An application has been made for listing on Eurolist by Euronext…
Merrill Lynch debuts credit-linked note for Singapore
Merrill Lynch has launched the Jubilee Link Gain Notes for Singapore's retail investment market, allowing investors to participate in the credit markets in a principal protected and transparent manner. Jubilee Link Gain Notes have a high potential return…
S&P and Global Real Analytics launch commercial real estate indexes
Standard & Poor’s, has joined with Global Real Analytics (GRA) to develop and publish the S&P/GRA Commercial Real Estate Indexes (SPCREX Indices).
UK financial firms face £1 billlion start-up bill for Mifid
UK-based financial services firms could face a £1 billion bill for implementing the Markets in Financial Instruments Directive (Mifid), the UK’s Financial Services Authority (FSA) estimates.
Isda praises letter to Geithner on equity derivatives
The International Swaps and Derivatives Assocation (Isda) has said it “applauds and supports” a letter from 17 investment banks to Timothy Geithner, president of the Federal Reserve Bank of New York, which commits them to improving the efficiency of the…
Confirmation keeps OTC trading costs high, survey finds
The growth of the exotic over-the-counter market and the increase in confirmation requirements mean that trading costs have stayed high, according to a survey conducted by the London-based market analysts Z/Yen.
SwapsWire launches equity derivatives give-up service
London-based electronic confirmation service SwapsWire today launched its PBWire service, which supports give-ups on equity derivatives trades. PBWire allows buy-side clients, executing brokers and prime brokers to communicate give-up details in real…
Energen increases 2007 natural gas, liquids hedge
US-based Energen Corporation, owner of gas exploration and production company Energen Resources Corporation (ERC), has increased its natural gas and gas-to-liquids hedging position for 2007, the company announced.
Credit derivatives still leading OTC growth, says BIS
Credit derivatives continued to be the fastest-growing sector of the over-the-counter market this year, despite rising numbers of early terminations.
Lukewarm response to SOX legislation
NEW YORK - The Securities and Exchange Commission (SEC) has published details of the predominantly lukewarm responses received to its July Concept Release on internal controls legislation in the Sarbanes-Oxley Act (SOX).
FSA’s Huertas hits out at CPDOs
Thomas Huertas, director of wholesale firms at the Financial Services Authority, has lashed out at the use of constant proportion debt obligations (CPDOs), a new breed of synthetic credit investments.