News
Voser returns to Shell from ABB
Troubled energy major Royal Dutch/Shell has appointed Peter Voser as director of its Shell Transport and Trading Company subsidiary and as group managing director and director of finance of the Royal Dutch/Shell group.
DTCC introduces real-time trade-matching service
The New York-based Depository Trust and Clearing Corporation (DTCC) has introduced real-time trade-matching (RTTM) services for corporate and municipal bonds and unit investment trusts (UITs), a move it called a significant step in the industry’s…
Barclays Capital hires five in the Americas
London-based Barclays Capital has made five appointments to its corporate risk management and derivatives group.
BofE’s ‘Black Wednesday’ forex chief joins hedge fund
William Allen, the Bank of England’s foreign exchange chief during ‘Black Wednesday’ in 1992, has joined a hedge fund.
Options trading on EEX by year-end
Members of the European Energy Exchange (EEX) will be able to trade power options on the exchange by the end of 2004, with training and trading simulation for members beginning in July.
California grid operator names interim CEO
The California independent system operator (Cal ISO) has hired Marcie Edwards as interim chief executive, while it seeks a permanent replacement for Terry Winter who resigned on June 1.
APX to launch Zeebrugge gas exchange
APX – formerly known as the Amsterdam Power Exchange – today said it will launch a natural gas exchange for the Zeebrugge hub in January 2005. APX will develop the exchange in conjunction with Huberator, a subsidiary of Fluxys, the Belgian gas…
Dutch minister stakes career on energy liberalisation
The Dutch minister for economic affairs, Laurens Jan Brinkhorst is staking his political future on the success of electricity market liberalisation, claiming he will step down if security of electricity supply is threatened.
Prmia opens six new chapters
The Professional Risk Managers International Association (Prmia) has opened six new offices with a new regional director named to lead each of them. The new offices are in San Francisco and Vancouver in North America; Munich, Athens and Istanbul in…
‘What is Risk management?’ ask Risk USA speakers
The way banks and other financial institutions think about – and sometimes misinterpret – their risk management function formed the main theme of the opening keynote speeches at this year’s Risk USA conference.
Société Générale subscribes to Fitch Risk's Opvantage
French bank Société Générale has entered into a subscription agreement with Fitch Risk to access its financial institutions risk scenario trend (First) database.
DrKW creates Nordic derivatives marketing team
Dresdner Kleinwort Wasserstein (DrKW) has made three appointments to form a new Nordic financial institutions derivatives marketing team in London. The team will market the bank’s full range of derivatives products across asset classes to clients in the…
Ferc hires head of reliability division
US interstate energy regulator the Federal Energy Regulatory Commission (Ferc) has named Joseph McClelland as director of its Division of Reliability in the Office of Markets, Tariffs and Rates. McClelland will develop policies, programmes and strategies…
Sempra completes $1bn credit facility
Connecticut-based Sempra Energy Trading, the energy-trading unit of Sempra Energy, has completed a two-year committed credit facility for $1 billion to help finance the company’s global operations.
Fortis to enter energy trading with Xenon
Fortis Financial Services, the market trading affiliate of Fortis Bank, has selected Sakonnet Technology's Xenon trading and risk management application for its new energy trading activities in New York.
Société Générale subscribes to Fitch Risk’s Opvantage
French bank Société Générale has entered into a subscription agreement with Fitch Risk to access its financial institutions risk scenario trend (First) database.
Commerzbank's New York forex options head quits
Steve Rendon has left his position as head of foreign exchange options at Commerzbank in New York.
US regulators extend structured product proposal response period
The five leading US federal agencies have agreed a 30-day extension to the comment period on their proposals for sound practices covering complex structured finance activities.
CDS options emerge in Asia
Credit default swap (CDS) options on Asian names have emerged on broker screens, with two CDS option trades referenced to Hong Kong conglomerate Hutchison Whampoa trading through brokerage firm Icap in early June.
Banks make first Isda emissions trade
Investment banks Dresdner Kleinwort Wasserstein and Fortis Bank have made the first ever trade of European Union emission allowances (EUAs) using an annex to the International Swaps and Derivatives Association (Isda) Master Agreement.
RWE signs up to Raft
RWE, the German utility company, has signed up to use Raft’s credit risk management technology, Raft Credit. Raft International, the London-based risk technology company, did not disclose the size of the contract.
Merrill Lynch receives forex licence in South Korea
Merrill Lynch received a foreign exchange licence from the South Korean financial services regulatory body, the Financial Supervisory Commission (FSC), today. The licence allows the US securities dealer to expand its Korean business to the onshore forex…
First emissions trade concluded with Isda master support
Dresdner Kleinwort Wasserstein (DrKW) and Fortis Bank executed the first trade of European emission allowances using an International Swaps and Derivatives Association master agreement last week. London-based environmental and energy broker Evolution…
Basel Committee announces additional credit risk working groups
The Basel Committee on Banking Supervision announced today that it is launching three working groups, in partnership with the International Organization of Securities Commissions (Iosco), to explore a number of counterparty credit risk and trading book…