Foreign exchange

• Foreign exchange

Isda AGM: Sweden could pull back from swaps market

More bank credit rating downgrades could prompt Sweden’s Debt Office to pull out of the swaps market. That was the warning delivered today to the International Swaps and Derivatives Association meeting by Erik Thedéen, head of the debt management…

• 18 Apr 2002

• Markets

Isda AGM: No room for doom and gloom

At the International Swaps and Derivatives Association's AGM today, outgoing Deutsche Bank chairman Rolf Breuer predicted more strong growth for the derivatives industry, despite problems faced by other financial markets.

• 18 Apr 2002

• Structured products

Credit Markets Update: Spreads narrow as outlook turns positive

US Federal Reserve Chairman Alan Greenspan’s testimony before Congress today indicated that the Fed does not plan to raise interest rates any time soon and this, along with signs that the US economy is strengthening, caused spreads in the credit…

• 17 Apr 2002

• Markets

Isda AGM: OTC derivatives growth soars in H2 – Isda survey

The value of notional outstandings of over-the-counter derivatives contracts grew significantly in the second half of last year, according to a survey released today by the International Swaps and Derivatives Association. Credit derivatives saw the most…

• 17 Apr 2002

• Hedge funds

Sempra Energy orchestrates smooth buy-out of Enron Metal's London arm

• 16 Apr 2002

• Structured products

Deutsche launches credit index fund

Deutsche Bank launched the Xavex Dynamic Bond Portfolio Fund today. The new credit fund is index-based and indirectly uses the German bank’s over-the-counter (OTC) trading desk for hedging.

• 16 Apr 2002

• People

Merrill makes more key FX hires

Merrill Lynch has made another number of key hires to its FX team following the appointment of Michael deSa as global head of FX late last year. The US investment bank has lured Adam Kreysar, the highly rated global head of FX options at UBS, as its new…

• 15 Apr 2002

• Structured products

Rates Markets Update: US swaps widen on Middle East fears

The US interest rate swaps market broke a trend this week as spreads slowly widened after several weeks of consistent narrowing. Five-year dollar swap spreads widened by 5 basis points to 62bp over Treasuries in the same maturity, while 10-year spreads…

• 12 Apr 2002

• People

ABN Amro launches Asian absolute return group

ABN Amro has hired Richard Johnson and David Kwan as directors to create a new Asian absolute return strategy group in Hong Kong.

• 11 Apr 2002

• Regulation

Basel II op risk survey planned for June 1

Global banking regulators hope to issue another survey on June 1 seeking information from banks on their operational losses in order to help with the development of the complex, risk-based Basel II bank capital adequacy Accord, regulators said.

• 11 Apr 2002

• Foreign exchange

Senate kills proposed OTC energy regulation

The US Senate has blocked a measure to re-regulate the trading of over-the-counter (OTC) energy derivatives. Dianne Feinstein, a Democratic Senator from California, had proposed a bill amendment that would permit the Commodity Futures Trading Commission…

• 11 Apr 2002

• Structured products

Credit Markets Update: HVB spreads up on Kirch and other concerns

Subordinate protection costs on Munich-based HypoVereinsbank (HVB) surged 12 basis points briefly today, as it became the latest financial institution dragged into Kirch Media's bankruptcy. Within 30 minutes of trading, senior protection on HVB traded at…

• 10 Apr 2002

• Regulation

US trade associations step up opposition to Feinstein bill

A number of prominent US trade associations, along with leading financial and energy institutions, have called for the US Senate to veto efforts by Senator Dianne Feinstein to amend US energy legislation that would see more oversight of derivatives.

• 09 Apr 2002

• Regulation

Cognotec in Asian sales push with new hire

Irish e-commerce FX trading services company, Cognotec, has hired Patrick Lim from Standard Chartered to boost its sales in Asia.

• 08 Apr 2002

• Environment-Renewables

Green scheme down under

Robin Lancaster reports on Australia’s government-mandated renewable energy certificates market, which – after a slow start – is expected to pick up fast

• 03 Apr 2002