News
Five market-makers back CME eurozone inflation futures
Barclays Capital, Ixis Corporate and Investment Bank, Lehman Brothers, Nomura International and the Royal Bank of Scotland have all agreed to become market-makers for the Chicago Mercantile Exchange’s (CME) new eurozone inflation futures contract. The…
Lloyds TSB appoints head of quantitative analytics
Lloyds TSB Financial Markets has appointed John Crosby as global head of quantitative analytics and research in London. He will lead a team of quants and will be responsible for developing models for pricing derivatives instruments across all asset…
Icap bolsters structured credit team
Inter-dealer broker Icap is raising the stakes in the competitive structured credit broker market with three new appointments – two of which were poached from rival CreditTrade.
BNP Paribas adds to structured credit team
BNP Paribas has hired Damian Saunders as a senior syndicate manager in its structured credit team in London. Saunders will report to Guy Rose, head of BNP Paribas' European structured credit syndicate.
LCH.Clearnet launches OTC clearing for freight derivatives
LCH.Clearnet has launched an OTC clearing service for the forward freight agreements (FFAs).
Isda’s ‘novation protocol’ aims to tackle derivatives backlogs
The world's major derivatives dealers have signed up to the International Swaps and Derivatives Association’s long-awaited ‘Novation Protocol’, which seeks to facilitate the transfer of existing trades to third parties.
ABN Amro reinforces equity derivatives team
ABN Amro has added two senior traders to its equity derivatives team in London, hoping to tap a larger investor market.
Nymex pit opens in London
Some 76 individuals and 12 companies showed up to trade Brent and gas oil futures on the first day of trade at the New York Mercantile Exchange’s London trading floor today (Monday).
MarketAxess launches CDS index trading platform
MarketAxess has launched a multi-dealer credit default swap (CDS) index trading service in London and New York. The New York-based company is targeting end-users to use the service.
Lloyds TSB hires Fortis Bank's structured credit team
Lloyds TSB Financial Markets has brought Fortis Bank's structured credit team to London to reinforce its own structured credit operation.
Banc of America hires eight for European equity team
Banc of America Securities has taken on eight traders and marketers to increase the size of its London-based European equity derivatives team.
TriOptima run sees $127 billlion in CDS torn up
Stockholm-based TriOptima said its latest credit default swaps (CDS) tear-up run has eliminated contracts with a notional value of $126.6 billion.
TFS starts brokering CDM and JI emissions credits
TFS, a New York-based inter-dealer broker, has started brokering emissions credits under the Kyoto Protocol’s Clean Development Mechanism (CDM) and Joint Implementation (JI) schemes.
Indian exchange to list IPE Brent crude futures
Oil traders in India will from September 15 be able to trade rupee-denominated Brent crude futures, settled monthly by reference to the benchmark IPE Brent crude futures contract.
Bear Stearns and Calpine form energy marketing and trading company
Investment bank Bear Stearns and California-based power company Calpine Corp have formed an energy marketing and trading venture focused on physical natural gas and power trading and related structured transactions.
Russell attributes options volume growth to alternative investors
According to Washington-based Russell Investment Group, monthly volumes for derivatives referencing its indexes hit new highs last month. Kelly Haughton, the group’s Strategic Director of Russell Indexes, attributed some of the upturn to an increase in…
Icap to take on Prebon's rate derivatives team in Sydney
Icap plans to hire the Sydney-based interest rate derivatives team at Prebon Group, a rival inter-dealer broker that was bought by Collins Stewart Tullett in October 2004.
BNP Paribas adds six to New York equity and derivatives team
BNP Paribas has hired six new traders - five from Nomura Securities - for its New York- based equity and derivatives trading business.
Rates uncertaintly proves boon for derivatives
Changing expectations of central bank interest rate action in the US and Europe has led to heavy trading of short-term interest rate derivatives, the Bank for International Settlements said yesterday.
Korolev to lead Calyon high yield business
Andrei Korolev has joined Calyon in London as head of high yield trading, part of the bank's expansion of its sub-investment grade operation in Europe.
Freddie Mac appoints Anurag Saksena as first CRO
Freddie Mac, the second largest US federal mortgage agencys, has hired Anurag Saksena as its first chief enterprise risk officer.
Civil suit filed against Bayou, task force planned
The US Attorney for the Southern District of New York, David Kelley, has filed a civil complaint against Bayou Management – a Stamford-based hedge fund manager. In the complaint, filed yesterday, Kelley requested that the firm's funds be frozen.
Auto CDS trades still dominate US market
The US credit default swap market continues to be dominated by contracts based on the debt protection of automobile and auto parts manufacturers, indicating the unpheaval caused by the downgrades of Ford and GM in May have not yet died away.
