News
Icap to add trading functions to i-Swap
Faster-than-expected advances in electronic derivatives trading have forced inter-dealer broker Icap to step up plans to launch its own electronic swaps trading platform.
Citigroup restaffs Singapore forex sales
Citigroup has hired new staff to fill a void in its Singapore foreign exchange institutional sales team after three employees defected to Barclays Capital.
FX Concepts hires in options
FX Concepts, a New York-based currency manager, has hired two options specialists to enhance its quantitative research, foreign exchange options and non-directional strategies management.
Algo and Bloomberg release enhanced risk service
Toronto-based Algorithmics and Bloomberg released a new version of Algo Risk, a market and trading risk solution, at Algorithmics' annual user conference being held in Boston, Massachusetts this week.
Energy swaps
Natural Gas
Nymex president to quit
Bo Collins, president of The New York Mercantile Exchange (Nymex), will leave the exchange at the end of this month. Nymex said the decision not to renew his contract was made by "mutual agreement".
CCRO and S&P form liquidity working group
The US Committee of Chief Risk Officers (CCRO) has established a working group along with rating agency Standard & Poor’s (S&P) to define the most effective metrics integral to assessing the liquidity demands of energy supply and wholesale marketing…
NRG Energy creates chief risk officer role
NRG Energy has hired Philip Chesson to fill the newly created role of chief risk officer.
Trayport alliance to offer streamlined trading
Trayport, the software company behind trading platform GlobalVision, has entered into an alliance with Excelergy Corporation to offer a flexible package combining Excelergy’s trading and retail solutions with Trayport’s front-end energy trading platform.
Natural gas storage swaps catch on
London-based GFI has brokered its first over-the-counter (OTC) swap based on US natural gas inventory data, between Houston-based hedge fund Centaurus and another unnamed hedge fund. Centaurus also traded a second such swap on the same day, with an…
Amerada Hess forms LNG division
US energy company Amerada Hess has formed a joint venture with an affiliate of New York-based Poten & Partners, to be known as Hess LNG. The joint venture will be based at Amerada's New York headquarters and will pursue investments in liquefied natural…
DrKW snares global head of credit hybrid trading
German investment bank Dresdner Kleinwort Wasserstein has hired Tong Lee from Gen Re Securities as managing director and global head of credit hybrid trading, a new role within the bank. He will take up his post in mid-June and will be based in London.
UBS creates combined credit trading group in Asia-Pacific
UBS has decided to combine its Asian, Australian and Japanese credit trading businesses into a single Asia-Pacific credit trading division. It has appointed Michael Halloran as co-head of the merged group.
Highland hires to support move into credit-sensitive structured products
Highland Financial Holdings, a $650 million hedge fund manager in New York, has hired Dean Smith as senior vice-president to oversee the fund's expansion to credit risk products.
Nymex president to quit
Bo Collins, president of The New York Mercantile Exchange (Nymex), will leave the exchange at the end of this month. Nymex said the decision not to renew his contract was by made by "mutual agreement."
Baltic Exchange forms asset derivatives advisory group
The London-based Baltic Exchange has formed an independent advisory group to enhance the emerging market for ship vessel asset derivatives. The group consists of key users, derivative brokers and physical panellists and will act as an information…
Sempra secures credit facility; raises earnings guidance
San Diego-based Sempra Energy is in the process of securing a two-year line of credit with "major financial institutions" that will provide as much as $1 billion. The line of credit, which will be secured by certain trading company assets, will be used…
BAAM creates CIO position
The Blackstone Group, a New York-based venture capital firm, has appointed Bruce Amlicke as senior managing director and to the newly created position of chief investment officer of Blackstone Alternative Asset Management (BAAM), the firm’s $9 billion…
Algo and Bloomberg release enhanced risk service
Toronto-based Algorithmics and Bloomberg released a new version of Algo Risk, a market and trading risk solution, at Algorithmics' annual user conference being held in Boston, Massachusetts this week.
HSBC builds MBS team
HSBC has hired two people for its new mortgage-backed securities (MBS) business following the appointment of six people for its asset-backed securities (ABS) group.
SG strengthens equity derivatives flow products sales
SG, the investment banking unit of France's Société Générale has made a number of appointments within its equity derivatives flow products sales team.
IPE puts back relaunch of power futures
London’s International Petroleum Exchange (IPE) has put back its relaunch date for UK electricity futures – it will now start listing them by the end of September. The exchange had originally intended to launch the contracts around the end of this month.
ABN Amro expands financial markets advisory business to Asia
ABN Amro has expanded its financial markets advisory department to Asia, with the appointment of a new Hong Kong-based team to provide advisory services on debt funding, risk management and ratings advisory to corporates and financial institutions around…
Barclays Capital builds up Asian business
Barclays Capital has been aggressively expanding its Asian business, with the hiring of senior staff across all asset classes.