News
Competition up in US futures, but Eurex to struggle, says report
The entrance of Eurex to the US futures industry has improved the quality of the market, according to research company Celent.
Energy Risk launches weather derivatives survey
Energy Risk , the leading publication for energy trading and finance professionals, today launched its first annual weather derivatives survey.
Montréal Exchange and Oxen to offer energy clearing
The Canadian Derivatives Clearing Corporation (CDCC) - a wholly owned subsidiary of the Montréal Exchange (MX) - and the Alberta Watt Exchange, an Alberta-based energy exchange wholly owned by digital commodity exchange operator Oxen, are to provide…
El Paso sells four power plants
Houston-based energy company El Paso Corp is continuing its mass sell-off of assets by closing the sale of a further four power plants to Northern Star Generation. El Paso Merchant Energy, a business unit of El Paso Corp, sold the facilities on July 2…
FirstRand Bank gives ABN Amro CLS mandate
ABN Amro has been awarded a mandate by FirstRand Bank for third-party continuous-linked settlement (CLS) services in South Africa.
DrKW adds to sales and trading in Paris
Dresdner Kleinwort Wasserstein (DrKW) has made a number of sales and trading appointments within its capital markets team in Paris.
EC fails emissions scheme, says E&Y director
The European Commission’s failure to challenge eight EU national allocation plans undermines Europe’s ability to meet its carbon dioxide emissions reduction targets agreed under the Kyoto Protocol according to Ernst & Young’s director of emissions…
Canadian power utility selects SoftSmiths
Canadian utility Energie NB Power has signed up to use Houston-based SoftSmiths' Electronic Tagging Portal Suite (ETPS) and e-Link Integration solution to manage its energy delivery transactions.
Bank of America settles Enron case
Bank of America (BoA) has agreed to pay $69 million as part of an agreement to settle a class action lawsuit brought on behalf of purchasers of Enron securities and led by the Regents of the University of California (UC).
David Li joins Barclays quantitative group
David Li, a former quantitative researcher at Citigroup, has joined Barclays Capital in New York as its global head of quantitative analytics for credit derivatives.
Nomura builds up international credit group
Nomura International has made eight new appointments in London, New York and Hong Kong for its global credit group, which specialises in structured credit products and trading. The additions come as Nomura seeks to expand this particular business line in…
Calypso adds Mark-it’s Red
Technology company Calypso has integrated Mark-it Partners’ reference entity database (Red) into its trading systems.
Emerging slowly to Basel
Financial institutions in emerging markets are overly optimistic that they will implement Basel II on time, according to a survey conducted by the World Bank. The results were announced at the World Bank advanced risk management workshop in Washington,…
Australian Securities Exchange moving up to OM’s Click XT
The Australian Securities Exchange (ASX) has signed a 10-year agreement to use OM Technology’s Click XT as the integrated trading platform for its equity, derivatives and fixed-income products, reports RiskNews' sister publication, Dealing With…
APX restructures, makes senior hires
Amsterdam-based APX Group, which provides exchanges for natural gas and power trading across northwest Europe, will move London-based power exchange UKPX’s forwards market onto its own system on August 18. The group has also made several senior…
Lyxor launches ETFs on eurozone government bonds
Lyxor Asset Management, a subsidiary of French bank Société Générale, has launched two exchange-traded funds (ETFs) products based on eurozone government bond prices and listed on Italy’s stock exchange, the Borsa Italia.
Rivals gear up for forex clearing
The stage is set for a central counterparty clearing (CCP) system for foreign exchange as two potential providers moved their plans forward last week, reports RiskNews' sister publication, FX Week .
AIG restaffs forex post-merger
Banque AIG, a subsidiary of AIG Financial Products, has hired six sales and trading specialists in a bid to upgrade the foreign exchange component of its cross-product service, reports RiskNews' sister publication, FX Week .
Deutsche appoints new head of operational risk
Deutsche Bank has internally appointed Christian Sewing as global head of operational risk management (ORM), replacing Fred Peemoeller.
Fidelity risk chief lands at SEC
The US Securities and Exchange Commission (SEC) has hired Charles Fishkin as director of the newly formed Office of Risk Assessment (ORA). Fishkin will manage the overall risk assessment programme, co-ordinating risk assessment activities across the…
Reuters and Reveleus team up on ERM product
Reuters and Boston-based financial analytics company Reveleus are launching an enterprise risk management solution designed to reflect risks across the trading and banking book.
Eurex US gets regulatory approval from Spain and Italy
Regulators have cleared the way for Spanish and Italian traders to directly access derivatives exchange Eurex US, which was launched in February.
Botti leaves CLCM for hedge fund
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