News
Bank of America hires credit and forex trading heads
Bank of America has hired three senior managers for its London-based global markets team, including new heads of European credit trading and global forex options correlation trading.
BarCap expands equity derivatives coverage
Barclays Capital has expanded its equity derivatives coverage with the hiring of Luca Agostini and Hermann Bader as directors in strategic equity derivatives.
Global Advisors names two managers for gas trading
New York commodity hedge fund Global Advisors has hired Adam Hoffman and Matthew Simsic as portfolio managers, aiming to increase its presence in the natural gas market.
SG boosts European rates sales
Société Générale has hired Jan de Bondt and Ian Morgan in rates sales as the bank looks to expand its European footprint in the rates business.
Nymex and Icap launch same-day OTC energy options
The New York Mercantile Exchange (Nymex) and brokerage firm Icap are to launch an over-the-counter (OTC) market in same-day options on crude oil and natural gas on July 18.
Converse joins Banc of America
Floyd Converse has moved from Goldman Sachs to Banc of America Securities, where he will head the US rates structuring unit.
Five new Dow Jones-AIG indexes launched
Dow Jones Indexes and AIG Financial Products have released five new indexes and sub-indexes covering futures on commodities including agricultural products and energy.
RBS appoints insurance coverage head
Royal Bank of Scotland (RBS) has hired Gareth Braithwaite as global head of insurance for its financial institutions relationship management team.
Eurex to launch CDS index product
Eurex has licensed International Index Company's European iTraxx indexes in preparation for the launch of an exchange-traded contract based on the European credit default swap (CDS) index before the end of the year.
Belgian power exchange to launch early 2006
The Belgian day-ahead electricity market is due to start in early 2006 on the Belgian power exchange (Belpex) in a link-up with Dutch power exchange APX and French energy exchange Powernext. This is the first time three power exchanges will be linked…
CDO analyst files Sarbanes-Oxley complaint against Wachovia
Arturo Cifuentes, former managing director in structured products research at Wachovia Securities in New York, has filed a Sarbanes-Oxley complaint against his former firm.The complaint, filed 6 July with the US Occupational Safety and Health…
Isda backs Bear Stearns appeal against Enron
The International Swaps and Derivatives Association and the Bond Markets Assocation (BMA) have backed Bear Stearns' latest attempt to keep hold of $25.9 million in payments on a stock forward agreement, in the face of Enron's attempt to recover it.
Some brokers taking wrong approach to freight, says senior broker
Inter-dealer brokers could be taking the wrong approach by entering the freight derivatives market through joint ventures with physical shipping brokers rather than directly broking physical freight, says a senior energy broker.
Lehman appoints head of investment management
Lehman Brothers has appointed Thierry Sciard as managing director, head of investment management for Europe, tasked with the strategic development of the investment management business in the continent.
Tullett appoints new CEO
Tullett Financial has changed its name following the merger with Prebon and named G. Andrea Danese as chief executive. The company will now be known as Tullett Prebon Information.
Shell picks ZaiNet for carbon trading
Shell Energy Trading has licensed the ZaiNet emissions trading software, produced by SunGard, to manage its global carbon dioxide portfolio.
Deutsche grows asset finance division
Deutsche Bank has hired former JP Morgan vice-president Dennis Knitowski as a director in asset finance within the global markets division.
Goldman poaches Asian warrants specialist from SG
Cheril Lee has quit Société Générale in Hong Kong to head Goldman Sachs’ warrants business for Asia ex-Japan.
Bank of America hires seven for London sales team
Seven new senior salesmen have joined Bank of America's London-based global markets sales team from other major banks, making the team, led by Brian Heyworth, a third larger than at the start of the year.
Autos still most active CDS in US and Europe
The effect of Standard and Poor's downgrading the credit ratings of debt owned by Ford and General Motors two months ago is still washing through the credit default swap (CDS) market.
Deutsche launches European ABS index
Deutsche Bank has launched a European AAA floating-rate securitised bond index. The index will capture the performance of the European asset- and mortgage-backed securities market and focuses on the largest and most liquid AAA component of euro…
CFTC freezes hedge fund over derivatives 'fraud'
The US Commodity Futures Trading Commission (CFTC) has obtained a federal court freeze on the assets of a $230 million hedge fund following an investigation of the fund’s operators for fraud.
Mizuho kick-starts insurance derivatives business
London-based Mizuho International has unveiled an insurance derivatives business, to be headed by newly appointed Stefan Roggenkamp.
Icap prepares for money broker JV in China
Interdealer broker Icap aims to be the first foreign company to enter the Chinese money broking sector, after Chinese regulators said they would relax rules previously banning the practice.