News
US financial institutions face major challenges under Basel II, says Financial Insights
Financial institutions in the US face tremendous challenges under the new Basel Accord, also known as Basel II, according to Financial Insights, a financial services research firm based in Framingham, Massachusetts.
BNY sales head joins EFG Bank Group
Raymond O'Leary, formerly head of European forex sales at Bank of New York (BNY) in London, has joined EFG Bank Group, a private bank based in Geneva.
Non-US airlines profit from low-flying dollar
The weak dollar is giving airlines outside the US some relief from the impact of high fuel costs, according to their latest financial results, reports Risk’s sister publication, FXWeek .
RBS to offer interest rate swap trading through Bloomberg
Royal Bank of Scotland’s (RBS) London-based Financial Markets division has expanded its Bloomberg Electronic Trading offering by adding euro interest rate swaps.
BoA loses French corp sales dealer
Olivier Brouet has left Bank of America (BoA) in London, where he worked in FX sales to French corporates, reports FX Week , Risk ’s sister publication.
Lehman to offer onshore forex derivatives in South Korea
Lehman Brothers has transferred JS Kim, a senior vice-president in fixed income, from Tokyo to Seoul, in preparation for the launch of its onshore forex and interest rate derivatives business in the country, reports Risk’s sister publication, FX Week .
Fannie Mae earnings filing delayed
US mortgage agency Fannie Mae will not file its third-quarter earnings report on time, and may be hit with approximately a $9.0 billion loss if an investigation into its accounting practices reveals it did not qualify for hedge accounting, the…
HSBC revises research offerings
Global banking group HSBC has reshuffled the research offered by its research arm.
Chicago Climate Exchange approved to trade futures
The Chicago Climate Futures Exchange (CCFE) obtained approval from the US Commodity Futures Trading Commission (CFTC) last week to trade emissions futures contracts.
ABN Amro buys Portuguese securitisation company
Dutch bank ABN Amro has bought the Portuguese securitisation company Servimedia SGFTC from Banco Comercial Portugues (BCP), to consolidate servicing capabilities for securitisation clients in the region.
GFI announces Fenics link with UBS
GFI Group, the New York-based inter-dealer brokerage and software company, has made a deal with Swiss investment bank UBS, to link its currency options software with the bank’s screen-trading system.
Algorithmics rolls out Basel II tool
Algorithmics, an enterprise risk management solutions specialist, and FRS, a global provider of regulatory and financial reporting solutions, have entered into an agreement to deliver regulatory reporting within the Algo Capital solution.
BNP strengthens commodity derivatives team
BNP Paribas, the French investment bank, has made several hires in its London-based commodity derivatives trading and marketing division.
BNP beefs up energy team
BNP Paribas has expanded its energy derivatives team in London with four significant hires.
Mark Richardson joins WMG
Mark Richardson, global head of derivatives at Commerzbank Securities, has left the bank to join Mehmet Dalman at his new wealth management company, WMG. Dalman is the former head of global equities at Commerzbank.
BIS names new secretary general
The Bank for International Settlements (BIS) today named Peter Dittus as its new secretary general for a five-year term. He replaces Gunter Baer, who has held the position since 1994.
Basel II could be detrimental to the industry, says Labarge
The implementation of the new Basel Accord (Basel II) will be more difficult than earlier envisioned, and could be disruptive to the banking industry, according to Suzanne Labarge, former Royal Bank of Canada chief risk officer (CRO).
IPE members approved to trade on Ice OTC markets
The International Petroleum Exchange’s (IPE) registered brokers and local traders can now trade on IntercontinentalExchange’s (Ice) over-the-counter markets for their own accounts.
Russell opens up to options exchanges
Russell Investment Group, a Washington-based provider of investment services and products, is to allow options exchanges to create products based on its family of index products.
BIS names new secretary general
The Bank for International Settlements (BIS) today named Peter Dittus as its new secretary general for a five-year term. He replaces Gunter Baer, who has held the position since 1994.
US agencies issue QIS4 and LDCE survey materials
American financial regulators (the Agencies) have issued survey materials for the fourth Quantitative Impact Study (QIS4) and the Loss Data Collection Exercise (LDCE) in preparation for the implementation of the Basel II capital framework in the country.
US agencies issue QIS4 and LDCE survey materials
US financial regulators have issued survey materials for the fourth Quantitative Impact Study (QIS4) and the Loss Data Collection Exercise (LDCE) in preparation for the implementation of the Basel II capital framework in the US.
BP pays $100,000 to settle wash trading charges
The energy round-trip trading scandal continued to rumble as BP America today paid $100,000 to the US Commodity Futures Trading Commission (CFTC) to settle charges of illegal wash trading. A wash, or round-trip, trade is one that produces neither a gain…