News
Bourse de Montréal fines derivatives broker
The regulatory division of Canada’s Bourse de Montréal has fined Fimat Derivatives Canada C$1,000 after one of its employees entered an electronic order before obtaining approval to work as a trader.
Reuters readies for swaps broking foray
UK electronic information and dealing systems provider, Reuters, appears to be positioning itself for a foray into the electronic broking of interest rate swaps. The company has reached an agreement in principle to take control of the rate swaps platform…
Weinstein resurfaces at Cantor
Bernie Weinstein, former president of Thomson Financial’s sales and trading group, will become a senior managing director at inter-dealer broker Cantor Fitzgerald on January 1, overseeing Cantor Market Data (CMD) and eSpeed’s Software Solutions business.
Energy companies should embrace trading, says report
Energy companies must embrace trading if they are to survive in the post-Enron market, said a new report by consultants PricewaterhouseCoopers (PWC).
Julius Baer launches emerging forex desk
Swiss financial institution Bank Julius Baer has launched an emerging markets FX desk in New York with the hire of two traders from Greenwich-based AIG Trading.
Hong Kong banks lagging in preparation for Basel II
Hong Kong's banks are lagging their European counterparts in preparing for Basel II with most still at the early stages of project planning, according to a report by consultants KPMG.
Hong Kong banks lagging in preparation for Basel II
Hong Kong’s banks are lagging their European counterparts in preparing for Basel II with most still at the early stages of project planning, according to a report by consultants KPMG.
Traders see interest in short-dated protection for insurers
Credit derivatives traders said interest in short-dated protection on European insurers was active this week. But the cost of protection in the normally more liquid five-year credit default swap markets for European financial institutions remained…
Forward Freight Agreement Brokers' Association elects new chairman
The Forward Freight Agreement Brokers' Association (FFABA) has elected Philippe van den Abeele, a broker and managing director of London shipbrokers, Clarksons, as its new chairman.
FSA slaps CSFBi with £4 million fine
The UK’s Financial Services Authority (FSA) yesterday fined Credit Suisse First Boston International (CSFBi), the derivatives arm of Credit Suisse First Boston, £4 million for attempting to mislead the Japanese regulatory and tax authorities - the…
Japanese default swap spreads tight despite bearish equity market
Convertible arbitrage funds and other investors seeking premium continued to maintain tight Japanese credit default swap spreads, despite continued weakness in the country's benchmark Nikkei 225 stock index, which dropped near its 19-year low of 8,303,…
Trade associations launch IRB survey
The International Swaps and Derivatives Association, the Risk Management Association and the British Bankers' Association today launched a survey of the validation of banks' internal credit ratings, a key element underlying the internal ratings-based …
Euronext.liffe to launch options on exchange-traded funds
The derivatives branch of the Euronext exchange, Euronext.liffe, plans to launch options on exchange-traded funds (ETFs) in January. The move follows rival Eurex’s launch of options and futures on ETFs in November.
Trade associations launch IRB survey
The International Swaps and Derivatives Association, the Risk Management Association and the British Bankers' Association today launched a survey of the validation of banks' internal credit ratings, a key element underlying the internal ratings-based …
Isda says S&P got it wrong with definitions criticism
Standard & Poor’s Ratings Services’ criticism last week of a proposed change in credit derivatives documentation language was based on an out-of-date draft, according to an International Swaps and Derivatives Association spokeswoman.
Hong Kong’s PCI sees opportunities in US, Europe synthetic CDOs
Hong Kong-based PCI Investment Management, which recently closed a $500 million Asian managed synthetic collateralised debt obligation (CDO), is in no hurry to market another synthetic CDO, but managing director Herman Fung reckons that there could be…