Structured products
Modelling firm tackles surety bond woes
New angles
Liability hedging without the tears
Interest rates
RiskNews review
RiskNews review
Goldman launches gold warrants for retail
New angles
Tailoring internal models
Insurance special – Risk models
JP Morgan Chase closes first Korean synthetic credit transaction
JP Morgan Chase has closed South Korea’s first synthetic credit transaction this week. The US investment bank has arranged a hybrid 10-year $30 million credit-linked note (CLN) with exposure to Korea Development Bank credit risk and the super senior swap…
Formation of WBOT blows off course
Atlanta-based Weather Board of Trade (WBOT) has missed its planned February 2003 launch date, and its viability has been called into a question by a number of market participants. The online weather derivatives exchange originally planned to launch in…
CLS settles a trillion a day
NEW YORK — Continuous Linked Settlement, the new settlement service for foreign exchange, settled a record $1 trillion in FX payments on February 18.
Hedge funds see first capital outflows in two years
Alternative investment strategies saw their first quarterly net outflow in more than two years in the last quarter of 2002, capping a year in which $16.3 billion in assets were added to hedge funds, according to research compiled by Tremont.
Mercer snaps up Oliver Wyman
Mercer, a consulting division of New York-listed Marsh & McLennan, has bought specialist risk management and financial service practice consultants Oliver Wyman & Company for an undisclosed sum.
Refco launches alternative investments division
US futures broker Refco is launching an alternative investments division to sell structured products that incorporate hedge funds, futures, currency and various other derivatives.
The Price May Not Be Right!
Significant events that occur after a market has closed—but before the fund is valued—may lead to consumers buying a fund at an incorrect price due to stale pricing.
South Korea reclassifies ELNs and warrants
South Korea’s Ministry of Finance and Economics (MOFE) has reclassified equity-linked notes (ELNs) and warrants as securities under the country's revised Securities and Exchange Act, according to an official at the MOFE. The move – which came into effect…
Fitch predicts global CDO market volatility to continue in 2003
Credit agency Fitch predicts that ratings volatility in the global collateralised debt obligation market is likely to continue this year, according to its latest report, ‘Global CDO Quarterly’.
Mercer snaps up Oliver Wyman
Mercer, a consulting division of New York-listed Marsh & McLennan, has bought specialist risk management and financial service practice consultants Oliver Wyman & Company for an undisclosed sum.
Fortis launches its first managed synthetic CDO
In a deal led by Royal Bank of Scotland's Financial Markets arm, Fortis Investment Management has launched its first managed synthetic collateralized debt obligation (CDO).
EIB to outsource derivatives collateral management
The European Investment Bank (EIB), the financing institution of the European Union, is set to outsource its derivatives collateral management activities to Dutch bank ABN Amro.
Japan's UFJ Bank to issue synthetic CLO in March
Japan’s UFJ Bank is preparing to launch a balance sheet synthetic collateralised loan obligation (CLO) referenced to a pool of loans extended by UFJ Bank to Japanese small and medium sized companies, worth ¥1 trillion ($8.4 billion). The synthetic CLO,…
Deutsche launches commodity indexes
Deutsche Bank has launched two new indexes that track the performance of a small set of liquid commodities.
Continuous-linked settlement: Extending to Asia
Continuous-linked settlement – the initiative designed to eliminate forex settlement risk – went live at the end of last year. But with only Australia and Japan represented in the first batch of currencies, what will CLS mean for Asia’s banks?
KPMG Study highlights regional differences in Basel implementation
According to a recently released global study by the consulting arm of KPMG, the the international auditing firm, there are significant differences in how financial institutions in the US and Europe are preparing for the coming Basel Accord revisions.
Waiting for guidance
South Korea's banks have made huge strides in implementing risk management systems over the past few years, but Basel II is not yet a driving force, with banks waiting for the Korean regulator to publish local guidelines.
ABN Amro revamps financial markets operations
ABN Amro has combined its global financial markets unit with its loan products division, as part of a major overhaul of its financial markets business.
Three more Korean securities firms receive derivatives licences
Three additional securities firms have received authorisation to trade over-the-counter (OTC) derivatives in South Korea following regulatory changes last July that opened up the OTC derivatives market to the country's securities houses.