News
Basel II focus switches to securitisation after SME loan solution agreed
Experts working on the Basel II bank capital rules are focusing on the technically difficult issue of asset securitisation after agreeing a solution this month to the politically sensitive problem of how lending to small and medium-sized enterprises …
Credit Markets Update: Xerox scandal spooks market
Reports of another major accounting blunder, this time at Xerox, have spooked the credit derivatives market and sent bids for credit protection on European names escalating again. Credit default swaps spreads on European credits had been tightening after…
Japan Credit Market Update: Spreads track equities on WorldCom fears
The cost of default protection on Japanese credits stabilised on Friday after Wednesday’s sharp widening caused by a $3.8 billion accounting scandal at US telecommunications group WorldCom, volatile equity markets and the steady strengthening of the yen…
CMA develops credit derivatives analysis product
Credit Market Analysis (CMA), a specialist provider of analytics for the credit markets, is marketing a new analytics system called CMA Market Monitor, which will provide investors with spread information on bonds and credit derivatives. The company…
HSBC hires new head of risk management advisory for Asia-Pacific
HSBC has hired Ivan Wong from Citigroup as head of risk management advisory for the Asia-Pacific region, according to a source at the bank.
Westpac considers cap guarantee funds
Australian bank Westpac plans to start launching capital guaranteed funds into the Australian market-place within the next 12 months, according to Stephen Eakin, head of equity derivatives at Westpac in Sydney.
Standard Chartered creates securitisation capability
Standard Chartered has entered the securitisation business by stealth, hiring a global head of securitisations and several specialists in London and Hong Kong.
Tullett signs new contract with Kalahari
London-based inter-dealer broker Tullett & Tokyo Liberty has signed a new three-year contract with Kalahari, an analytical and price discovery software company also based in the UK. The decision marks the extension of a 10-year tie-up between the two…
Credit Congress 2002: Credit hedging by convertible hedge funds set to rise, says Goldman
The potential opportunities for convertible hedge fund arbitrage will see the market grow from $2 to $2.5 billion by the end of this year, according to Klaus Toft, an executive director in Goldman Sachs’ credit derivatives strategies group.
Basel II focus switches to securitisation after SME loan solution agreed
Experts working on the Basel II bank capital rules are focusing on the technically difficult issue of asset securitisation after agreeing a solution this month to the politically sensitive problem of how lending to small and medium-sized enterprises …
ABN Amro, Eureka Hedge Advisors to launch Asian hedge fund index
ABN Amro and Eureka Hedge Advisors, a hedge fund research and advisory service based in Hong Kong and Singapore, have launched a benchmark index for Asian hedge funds. The service is aimed at providing investors and fund managers with a means to compare…
US middle-market CLO business poised to rise, says Fitch
US middle-market collateralised loan obligation (CLO) issuance is set to rise, according to a new Fitch Ratings report. A middle-market company is classed as one with annual revenues of between $10 and 400 million.
UK central bank concerned by investor appetite for credit risk
The purchase of credit derivatives instruments by some institutional investors in their hunt for yield is a cause for concern, the Bank of England said in its latest Financial Stability Review, released today.
HVB in major hedge fund push
Germany’s HypoVereinsbank (HVB) is restructuring its hedge fund activities in an effort to step-up its global alternative investments business. The move is intended to capitalise on the boom in demand for alternative investments, such as hedge funds, in…
Rabobank sues RBC over Enron total return swap
Rabobank, the Dutch financial institution, has filed a lawsuit against Royal Bank of Canada (RBC) over a $517 million swap transaction that RBC entered into with Rabobank to hedge a loan the Canadian institution had made to a unit of now-defunct energy…
ABN Amro head of Asian equity derivatives transfers to London
ABN Amro's Asian head of equity derivatives in Hong Kong, Frank McKirgan, will transfer to London in the third quarter, according to an official at the bank in Hong Kong.
Risk contributor Blejer steps down as Argentine central bank governor
Mario Blejer, a former senior adviser to the International Monetary fund (IMF), has resigned as governor of the Argentine central bank. The move could prove to be a blow to Argentine president Eduardo Duhalde's efforts to restore the country's battered…
Capital One hires director of risk management
Michael Haubenstock has joined Capital One’s Richmond, Virginia, office as a director of risk management, where he will establish an enterprise-wide risk management function.
First Italian hedge fund to open in July
Kairos Partners will become the first hedge fund in Italy when it starts trading in July, after receiving approval from Banca d'Italia, the central Italian regulator, yesterday.
UK’s FSA plans delayed Basel II paper for mid-July
The UK’s chief financial regulator plans to issue its discussion paper on implementing the Basel II bank capital adequacy Accord and parallel European Union (EU) rules in mid-July.
Kamakura hires Matz as senior VP
Hawaii-based risk management software provider, Kamakura Corporation, has hired Leonard Matz as senior vice-president. He will be based in Pennsylvania, and will work on client consulting, client training and model documentation.
Partners aims to offer €500m exchangeable hedge fund bond
Partners Group, a $4 billion alternative asset manager headquartered in Switzerland, plans to launch a €500 million innovative exchangeable bond linked to a pool of hedge funds within the next few weeks.
SMBC launches summer weather derivatives
Japan’s Sumitomo Mitsui Banking Corporation (SMBC) has recently launched a weather derivatives contract for unusual hot and cold summer temperatures in Japan, according to an official for the bank.