Structured products
HKMA to rule out AMA approach
Hong Kong’s banking regulator, the Hong Kong Monetary Authority (HKMA), will not allow the territory’s banks to use the advanced measurement approaches (AMA) for measuring operational risk when Basel II is implemented from the end of 2006.
SG to launch Footsie reverse tracker warrant
SG, the investment banking arm of Société Générale, will tomorrow launch warrants on the London Stock Exchange (LSE) that track the share prices of the UK’s top 100 companies but in reverse.
VAR: ready to explode?
The SEC plans to force US securities firms to tighten up their value-at-risk reporting. Its decision comes as VAR at the world’s leading financial services firms soared an average 25.8% last year. Who are the biggest risk-takers, and are risk managers…
US forex committee issues broker points rules
The Foreign Exchange Committee, a US industry association affiliated to the Federal Reserve, last week issued new guidelines on broker ‘points’ – the issue at the heart of last year’s massive Wall Street forex fraud, reports RiskNews’ sister publication…
Moody’s warns investors on digital CDS ‘moral hazard’
Moody’s Investors Service today warned investors to be wary of potential ‘moral hazard’ associated with the proliferation of digital credit default swaps (CDS).
A capital solution
Securitisation appears to offer clear regulatory capital benefits to owners of life insurance companies. Will other European banks follow Barclays' lead?
Hedge funds post positive results
The Hennessee Group, a New York-based investment adviser that consults hedge fund investors and monitors hedge fund managers, reported a return of 0.49% for hedge funds in June, bringing the 2004 year-to-date (YTD) return to 2.28% for the Hennessee Hedge…
CME appoints lead market maker for fertiliser futures
Chicago Mercantile Exchange (CME ) yesterday said that Agriliance will be the lead market maker for the exchange’s new fertiliser contracts traded on Globex, the exchange’s electronic trading platform. Minnesota-based Agriliance markets crop nutrients,…
Edison needs "broad EDF shoulders" says exec
A senior executive at Italian utility Edison has said the company would benefit from a takeover by a larger European utility, possibly Electricité de France (EDF). “Edison is too small in the long run to always remain independent,” he says. “So we need…
The liquidity makers
Technology
Energising Houston
Tehnology
The standard is set
Technology
Energising Houston
Technology
Nordic volumes heading south
Technology
Faith in the figures
Tehnology
El Paso sells four power plants
Houston-based energy company El Paso Corp is continuing its mass sell-off of assets by closing the sale of a further four power plants to Northern Star Generation. El Paso Merchant Energy, a business unit of El Paso Corp, sold the facilities on July 2…
King of convenience
Technology news
Bank of America settles Enron case
Bank of America (BoA) has agreed to pay $69 million as part of an agreement to settle a class action lawsuit brought on behalf of purchasers of Enron securities and led by the Regents of the University of California (UC).
Lyxor launches ETFs on eurozone government bonds
Lyxor Asset Management, a subsidiary of French bank Société Générale, has launched two exchange-traded funds (ETFs) products based on eurozone government bond prices and listed on Italy’s stock exchange, the Borsa Italia.
AIG restaffs forex post-merger
Banque AIG, a subsidiary of AIG Financial Products, has hired six sales and trading specialists in a bid to upgrade the foreign exchange component of its cross-product service, reports RiskNews' sister publication, FX Week .
Distressed is hot spot in event driven as merger arbitrage fails to deliver
distressed securites
Champions of Europe
HFR european performance Awards 2004
Adapt or die
Hedge fund founder Paul Tudor Jones wants to extend a two-decade run of returning 26% annually by stepping up investment in China