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Foreign exchange

Patsystems saga continues

Patsystems’ extraordinary general meeting, requisitioned by a group of disgruntled shareholders on February 11 this year, has been postponed until March 23.

OCC says derivatives revenues, notionals down

US commercial banks’ revenues from derivatives fell by $805 million, to $2.65 billion, from the third to the fourth quarters of 2001, according to figures released yesterday by the Office of the Comptroller of the Currency (OCC).

BNL plans weather desk for Italy

Rome-based Banca Nazionale del Lavoro (BNL) is planning to set up a weather derivatives desk, which could add to the recent thrust of new players in the weather risk market. BNL hopes to establish the desk, specifically for the Italian market, by the…

New multi-bank op risk data pooling venture

Over a dozen large global banks plan to form a new not-for-profit venture to pool operational risk data this spring. The Operational Risk Data Exchange (ORX) will be incorporated in Switzerland – selected for its data privacy and confidentiality laws –…

Hawke highlights "thorny issues" of Basel II

John Hawke, the US Comptroller of the Currency, this week said that “there are a number of thorny issues that remain to be worked out” in the Basel II bank capital adequacy Accord. Speaking at a conference held by the Institute of International Bankers…

Blackbird secures credit system patent

Blackbird, the Charlotte, North Carolina-based electronic trading system for derivatives, has secured a patent for its credit risk limit technology. The patent applies to a wide range of credit-sensitive transactions, including derivatives.

IKB chooses Trema’s Finance KIT

Trema, a Stockholm-based financial services IT vendor and management consultancy whose clients include the European Central Bank, Deutsche Bundesbank and the Czech Republic’s ING Investment Management today announced that IKB Deutsche Industriebank had…

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