News
Daiwa Securities SMBC launches managed synthetic CDO
Tokyo-based Daiwa Securities SMBC has launched its first managed synthetic collateralised debt obligation (CDO). The deal is worth ¥5.4 billion and is referenced to a portfolio of 100 Japanese credits.
S&P to apply stress test to power firms
Standard & Poor’s (S&P) is to apply a stress test designed to measure how well power companies can stand price swings in volatile electricity markets. The move is part of the credit rating agency’s effort to combat criticism of rating agency failure to…
People swaps
SG reshuffles project finance and utilities divisions SG Corporate & Investment Banking, a subsidiary of Société Générale, has named Matthew Vickerstaff and Roger Bredder as the respective heads of project finance for Europe and the Americas. London…
Who will be on Basel II in the US?
Observers are wondering, now that the US regulatory agencies have released their advance notice of proposed rulemaking (ANPR), which banking institutions will be considered mandatory banks, and be forced to use the advanced credit and operational risk…
Hong Kong to adopt loose approach to Basel II
The Hong Kong Monetary Authority, the financial regulator for the special administrative region of China, will not be mandating that certain types of banks adopt certain portions of the revised Basel Accords, according to a speech by Simon Toping,…
Cantor hires Irvin Goldman from CSFB
Broker Cantor Fitzgerald has hired Irvin Goldman, former head of fixed-income sales and trading at Credit Suisse First Boston (CSFB), as president of its debt capital markets and asset management division.
Fed seeks public comment on Basel II
The Federal Reserve has issued an interagency advance notice of proposed rulemaking (ANPR) seeking public comment on the implementation of the new Basel Accord in the US.
Emerging market hedge funds post highest returns
Emerging market hedge funds continued to generate lucrative returns in June, averaging a 3.3% gain net of fees, according to the Van Global Hedge Fund Index.
Goldman helps Greece meet EU targets using large derivatives deal
US investment bank Goldman Sachs has structured a €10 billion swaps ($11 billion) contract to help the Greek government meet its European Union (EU) debt targets.
Turnbull quits Lehman for return to academia
Renowned quant Stuart Turnbull has left Lehman Brothers' fixed-income research group to return to academia. Turnbull has accepted the Bauer Professor of Finance chair, Bauer College of Business, at the University of Houston.
US regulators issue their advance notice of proposed rulemaking
US regulators published the much-awaited advance notice of proposed rulemaking (ANPR) late on Friday afternoon, after a meeting of the Board of Governors of the Federal Reserve.
Fimat to launch foreign exchange futures in Poland
Fimat Group, the brokerage arm of French investment bank SG, is developing new exchange-related foreign exchange futures contracts in eastern Europe to widen its currency product portfolio for its institutional client base.
NYBOT appoints new CEO
The New York Board of Trade (NYBOT) has appointed its chairman, Charles Falk, to be its new president and chief executive officer (CEO). Falk has been acting in the position since the resignation of the previous CEO, Mark Fichtel, in April 2002.
IDEAglobal moves into credit derivatives
IDEAglobal, a Singapore-based market research company best known for its fixed-income commentary, is moving into credit derivatives.
Ferc says clearing house cooperation would boost energy sector
Increased co-operation among energy clearing houses in the US would help ‘jump-start’ the sector’s recovery, according to Lee-Ken Choo of the Federal Energy Regulatory Commission.
MMS launches one-stop credit service
Market data provider MMS International launched a real-time credit and derivatives commentary service last week, its first new service in five years.
Caruana defends Basel Committee on SMEs to European parliament
Basel Committee for Banking Supervision chairman Jaime Caruana strongly defended the group's proposals for credit risk weightings for loans to small and medium-sized enterprises (SMEs) to the audience at a EU parliament workshop on the subject yesterday…
DrKW appoints two to short-term equity products group
Dresdner Kleinwort Wasserstein (DrKW) has made two appointments within its short-term equity products group.
Bankgesellschaft Berlin picks Trema
Bankgesellschaft Berlin (BGB) has selected the French-based financial software services provider, Trema, to help streamline the German bank’s operations.
Integral names Liedberg as director of North American sales
Integral Development has hired Brian Liedberg as director of North American sales. Liedberg joins Integral from Cognotec Americas, where he led marketing of the company’s trading services.
RiskMetrics sees demand growing for ASP platforms
The adoption of application service provider (ASP)-based financial risk management systems is increasing rapidly, according to RiskMetrics.
Prebon Marshall and Swapstream agree to jointly promote swap and OTC trading platform
Inter-dealer broker Prebon Marshall Yamane has formed a strategic partnership with London-based Swapstream, to promote the trading platform to its customers.
ISE moves closer to equity index options trading
New York-based electronic equity options market, the International Securities Exchange (ISE), has stepped up its attempts to go head-to-head with the Chicago Board Options Exchange (CBOE) in trading equity index options by unveiling its first product,…
Standard & Poor's enters portfolio risk modelling
Standard & Poor's (S&P) Risk Solutions has launched a portfolio risk tracker model. The model covers both credit and market risk, which should allow banks to calculate their economic capital and perform risk assessments across the full range of risks…