News
British MP blames France and Germany for holding back EU energy liberalisation
Martin O’Neill, MP and chairman of the UK’s Trade and Industry Select Committee, today said that French and German politicians are holding back the development of a liberalised European energy market. In turn this will hamper development of a mature…
Hedge funds record Q3 net inflows of $24.6bn
The hedge fund industry attracted net new investment of $24.6 billion during the third quarter, up from $13.8 billion in the previous quarter, according to figures released today by the Tass Research unit of Tremont Capital Management.
ING hires head of financial markets in Taiwan
ING Financial Markets has hired Jeson Yih-Liang Liu, as director and head of financial markets in Taiwan. Liu will report to Percy Rueber, head of financial markets, Asia and Wu Ching-mai, country manager for Taiwan.
SG promotes forex options staff
French investment bank SG has promoted a number staff within the foreign exchange options business of its debt finance group.
UBS ousts Citi from top spot in forex
UBS is the best bank in foreign exchange, according to a poll of nearly 1,000 voters conducted by RiskNews sister publication FX Week .
Op Risk database reveals fraud costs
Fraud is a far greater operational risk than banks have been prepared to admit, according to data compiled by Aon, the insurance company.
CME cuts European fees
The Chicago Mercantile Exchange (CME) has slashed transaction fees for all products traded electronically on Globex in Europe, bringing its costs in line with rivals the Chicago Board of Trade (CBOT) and Eurex. However, the cut of 73% to 44 cents, from…
Reuters adds SuperDerivatives to 3000 Xtra
Reuters has added SuperDerivatives’ currency options pricing system to its 3000 Xtra platform, as part of its efforts to boost its position in the treasury markets.
ISE adds Morgan Stanley executive to board
The International Securities Exchange (ISE) has appointed Thomas Cardello, managing director responsible for global electronic derivatives marketing within the institutional equity division at Morgan Stanley, to its board.
CME sees record electronic forex trades
Electronic foreign exchange trading on the Chicago Mercantile Exchange's (CME) Globex platform has exceeded 100,000 contracts a day for the first time.
Nordic Financial Systems appoints new consultants
Gothenburg-based consultants Nordic Financial Systems (NFS) has appointed two new treasury consultants.
Clemmons quits XL Weather; resigns WRMA presidency
Lynda Clemmons, president and chief operating officer of Connecticut-based XL Weather & Energy, has left the weather risk and energy trading company. XL officials said Clemmons did not renew her employment contract and that they do not know her future…
HVB extends relationship with Front
Germany's HypoVereinsbank (HVB) has formed a new partnership with Front Capital Systems, the Swedish trading systems operating unit of SunGard. It will result in close collaboration between the two companies in IT development.
SwapsWire launches automated credit derivatives confirmation service
SwapsWire, the UK-based electronic trading platform backed by 23 leading international banks, has developed an automated confirmation-delivery system for credit default swaps (CDS). It believes the service should ultimately reduce processing time from…
Basel II Accord will reshape global banking, says Mercer Oliver Wyman
The implementation of the new Basel Accord, also called Basel II, will reshape the global banking industry, according to a report to be released this week by Mercer Oliver Wyman, a New York-based financial services strategy and risk management consulting…
Latin America looking to improve risk practices
Participants attending the Financial Stability Forum (FSF) in Chile this week said there was a need for further reforms to enhance Latin American domestic markets, ease the burden of public sector debt and provide alternative sources of risk management…
CDC Ixis AM selects Riskdata for hedge fund risk management
CDC Ixis Asset Management, the asset management arm of French investment bank CDC Ixis, has bought Riskdata's HEDGiX service to help manage its alternative investment portfolio.
Latin America looking to improve risk practices
Participants attending the Financial Stability Forum (FSF) in Chile this week said there was a need for further reforms to enhance Latin American domestic markets, ease the burden of public sector debt and provide alternative sources of risk management…
Bear Stearns joins rush to sign with Mark-it
US investment bank Bear Stearns has signed an agreement to use data supplied by UK credit data provider Mark-It Partners. It is the latest in a stream of major financial institutions to sign up for the service.
EU Commission outlines region's Basel II impact
More than 1,000 investment firms and 9,322 banks will implement the EU's capital adequacy directive, according to Patrick Pearson, head of banking and financial conglomerates unit of the internal markets division of the EU Commission.
Emerging markets to suffer unique Basel II compliance problems
Implementation of Basel II "is a tall order for most emerging markets", said Zeti Akhtar Aziz, governor of the Bank Negara Malaysia at the 12th annual Central Banking Conference in London yesterday.
A-IRB is overly prescriptive, say US banks
Several US banks would like to see a full internal models-based approach to regulatory capital. According to their response to the Advance Notice of Proposed Rulemaking (ANPR) on the implementation of the new Basel Capital Accord, the banks said the…
Reuters launches foreign exchange forwards in India
Reuters launched a forwards foreign exchange broking service in India last week.
GAO urges curbs on 'tying'
The General Accounting Office has recommended that bank regulators take additional measures to adequately enforce laws against the tying of commercial credit to more lucrative investment banking business, despite a lack of hard evidence to support…