News
Burke to head Prmia in Chicago
The Professional Risk Managers’ International Association (Prmia) has named Daniel Burke as regional director for its Chicago chapter.
Asian banks lagging in Basel II preparations, says Asian Banker Research
Most banks in Asia's leading countries are lagging in preparations for the implementation of the new Basel Accord, also known as Basel II, according to The Asian Banker Research.
S&P warns banks against reducing capital too soon in anticipation of Basel II
Standard and Poor's will review, and possibly downgrade, issuers that will be found to have reduced their capital levels in anticipation of the effect of the new Basel Accord, also known as Basel II, according to Paris-based Scott Bugie, the rating firm…
RBS boosts equity derivatives sales team
Royal Bank of Scotland (RBS) has hired Andy Savill as an equity derivatives sales manager for the UK and Ireland.
EEX launches daily CO 2 price index
The European Energy Exchange (EEX) will from today publish a reference price for the trade in CO 2 certificates throughout Europe on each trading day. The move comes in preparation for the European Union emissions trading scheme (ETS), which will start…
Shock FX fowards job losses at Tullett
Tullett Liberty has suffered a surprise defeat in the integration of its foreign exchange business with that of rival Prebon Yamane, according to RiskNews ' sister publication FX Week .
Tattersall leaves FSA
Colin Tattersall, head of op risk policy at the UK's Financial Services Authority, has left his post at the supervisor. Market sources say he is set to join the Irish Financial Services Regulatory Authority's Basel II implementation efforts, based in…
Tattersall leaves FSA
Colin Tattersall, head of op risk policy at the UK's Financial Services Authority, has left his post at the supervisor. Market sources say he is set to join the Irish Financial Services Regulatory Authority's Basel II implementation efforts, based in…
Russian derivatives legislation effort stalls
Efforts to fast-track the introduction of new legislation in Russia to provide legal certainty for derivatives contracts appear to have failed, following a hearing on the subject at the Russian Federation state duma on September 27.
NAB makes regulatory commitment
National Australia Bank (NAB) will submit a number of reports to the Australian Securities and Investments Commission (ASIC) as part of its efforts to repair the damage caused by the foreign exchange options scandal that enveloped the company earlier…
Kinder Morgan to buy more refined products terminals
US pipeline operator Kinder Morgan Energy Partners is to buy nine refined-products terminals from Georgia-based Charter Terminal Company and Charter-Triad Terminals for $75 million in cash and assumed liabilities. The deal is expected to close later this…
US Midwest a step closer to wholesale power market
After several delays, the Midwest wholesale power market might now be on course for launch next March. The Midwest independent transmission system operator (Miso) today announced the creation of three financial hubs for the wholesale trading of…
Bank of America replaces securities head
Bank of America has hired Mark Werner from JP Morgan Chase to replace Jon Sandelman as its head of debt and equities division.
NAB makes regulatory commitment
National Australia Bank (NAB) will submit a number of reports to the Australian Securities and Investments Commission (ASIC) as part of its efforts to repair the damage caused by the foreign exchange options scandal that enveloped the company earlier…
SG takes role in Chinese capital-guaranteed fund
Chinese fund management firm Harvest has launched the country’s fourth capital-guaranteed fund in conjunction with Shanghai Pudong Development Bank and SG, part of French bank Société Générale. The fund, launched last week, is the first to involve a…
Senior Barclays swaps trader to set up hedge fund
Alan Burnell, head of European swaps and government bond trading at Barclays Capital, is leaving the bank to set up a hedge fund.
Spectron and Braemar join forces for freight desk
Energy broker Spectron and ship broker Braemar Seascope have formed a partnership called Braemar Spectron, to broker forward freight agreements (FFAs) concentrating initially on dry freight in London.
NAB hires group risk chief
National Australia Bank (NAB) has appointed a new group chief risk officer as part of an ongoing drive to improve the company’s risk management practices.
SEC to examine for Basel II compliance, says Donaldson
The Securities and Exchange Commission (SEC) is on course to examine investment bank holding companies (IBHCs) for risk-based capital requirements under the new Basel Accord, also known as Basel II, according to SEC chairman William Donaldson.
Foreign exchange chief joins Pru exit queue
Howard Carr, head of foreign exchange and commodities at Prudential Bache in London, has quit his position, sparking fears for the future of the bank's forex desk in the city.
Duke sells part-built power plant to Nevada Power
The big US energy asset sell-off continued late last week, when Nevada Power Company bought a part-built 1,200 megawatt power plant for $182 million from Duke Energy. North Carolina-based Duke will receive proceeds and tax benefits of $330 million from…
Calpine to provide Newmarket with energy services
Calpine Energy Services (CES), part of California-based power company Calpine Corp, is to provide energy services to Newmarket Services Company. Newmarket is a newly formed subsidiary of New York- and London-based asset acquisition firm MMC Energy and…
CBOT develops liquidity analytics tool
The Chicago Board of Trade (CBOT) will introduce a new market data display application this week, in an effort to provide greater market transparency and help participants make better intraday trading decisions.
Basel II could raise tensions between global banks and sovereign states
The new Basel Accord for bank safety, also known as Basel II, is likely to raise the level of tension between global banks and sovereign states, according to governor Ben Bernanke of the Federal Reserve Board of Governors.