News
CAI adds to emerging markets forex team
Crédit Agricole Indosuez has added to its emerging markets team in South-east Asia.
Management buys out SG’s weather and cat bond funds
Société Générale’s (SG) weather derivatives team completed an amicable management buyout of the weather division at the French bank. The buyout creates what is believed to be the largest range of dedicated weather derivative and catastrophe bond funds,…
LNG not a short-term supply fix, warns US research firm
Liquified natural gas (LNG) will have a minimal impact on a significant US gas storage shortfall in the winter of 2003/2004, despite its long-term promise, says Energy Security Analysis Inc (Esai), a Boston-based research firm.
Mirant bankruptcy is not terminal
US energy firm Mirant’s July bankruptcy filing bucks the recent trend of last-minute restructuring deals that have saved many of its rivals from a similar fate. But analysts say the company is likely to emerge from its filing with at least some of its…
People Swaps
ABN Amro hires global energy trading head Dutch bank ABN Amro has hired Jonathan Arginteanu to the newly created positionof senior vice-president and deputy head of global energy trading operationsin New York. He was previously head of rival bank BNP…
UK energy brokers form association
Nine brokers operating in the over-the-counter energy markets in the UK formed the London Energy Brokers’ Association (LEBA) in July.
Correction – Allegro: The following text should have been included in the software vendor directory in last month’s (July) issue.
Allegro Development has provided energy firms with transaction and risk management software solutions for almost 20 years. Founded in 1984, Allegro provides an industry-leading set of customisable energy software components for companies including…
Isda and BMA propose 35% charge for restructuring risk
The International Swaps and Derivatives Association (Isda) and the Bond Market Association (BMA) submitted a comment letter today to the Basel Committee on Banking Supervision in which they argued that, for the sake of capital calculations, loans hedged…
Deutsche loses top forex quants
Deutsche Bank, which claims in promotional material to possess a foreign exchange options business that is “unsurpassed” by its competitors, has lost its head of foreign exchange products development William McGhee, and his deputy Andrew Jacobs. The pair…
Resecuritisation set for rapid growth in Japan, says Moody's
Resecuritisation deals - collateralised loan obligations (CLOs) backed by structured finance securities - are likely to grow in Japan, according to a report issued this week by Moody’s Investors Service.
US credit default swaps and CLN markets recovering, says S&P
The US credit default swaps (CDS) and credit-linked notes (CLN) markets are recovering from a lull in activity, according to rating agency Standard & Poor’s (S&P).
Swaps trader awarded £1m in Cantor Fitzgerald case
Steven Horkulak has won his constructive dismissal court case against the US swaps broker Cantor Fitzgerald, his former employer, for loss of salary and discretionary bonus, a sum totalling around £1 million.
Japanese CJ50 index reaches ¥10 billion on first trading day
The CJ50 index that tracks the movement of Japan’s 50 most actively traded credit default swaps started trading today, with volume reaching beyond ¥10 billion ($83 million), according to BNP Paribas.
Isda and BMA propose 35% charge for restructuring risk
The International Swaps and Derivatives Association (Isda) and the Bond Market Association (BMA) submitted a comment letter today to the Basel Committee on Banking Supervision in which they argued that, for the sake of capital calculations, loans hedged…
Front to boost product development with new hire
Front Capital Systems, a Stockholm-based operating unit of Pennsylvania-based technology company SunGard, has appointed Mats Lillienberg as chief technology officer in a bid to expand its product development.
Basel II Forum USA: Speakers stress feedback can still shape regulation
With the commentary period for the Basel Committee on Banking Supervision's final consultative paper (CP3) officially ending tomorrow, two speakers at Risk's Basel II Forum USA urged banks to be vocal about concerns related to the implementation of Basel…
Basel II Forum USA: Speakers stress feedback can still shape regulation
With the commentary period for the Basel Committee on Banking Supervision’s final consultative paper (CP3) officially ending tomorrow, two speakers at Risk ’s Basel II Forum USA urged banks to be vocal about concerns related to the implementation of…
Trema appoints McKibbin to lead sales effort
Trema has named Aislinn McKibbin as the new head of global sales in its financial institutions segment. McKibbin will be responsible for the development of Trema’s market share.
LME lines up Axa's Brydon as new chairman
The London Metal Exchange (LME) has appointed Donald Brydon, chairman of Axa Investment Managers, as an independent, non-executive director.
Allegheny sells $405m of energy supply contract to Goldman Sachs
Allegheny Energy yesterday took a step towards reducing its exposure to energy trading by selling an energy supply contract to a subsidiary of Goldman Sachs for $405 million.
Deutsche unveils IT 'vision' for derivatives
Deutsche Bank has started a radical overhaul of its derivatives technology that, internally, it is calling its 'vision programme’ for derivatives. The bank has now entered the first six months of an ambitious three-year programme designed to overhaul the…
Barra upgrade targets investment professionals
Barra, the Berkeley, California-based risk management technology vendor, has released a new version of its web-based risk analysis tool BarraOne, designed to make risk management more accessible to a broader range of investors.
Basel may advise banks on outsourcing
The Basel Committee on Banking Supervision may investigate the risks associated with outsourcing trading systems to third parties, a senior Bank for International Settlement (BIS) official told FX Week.
Third-party CLS take-up slows
Take-up of the continuous-linked settlement (CLS) service by third-party banks is slowing as a result of time-consuming back-office changes and a waning sense of urgency, CLS project managers told RiskNews ' sister publication, FX Week .