News
Icap and JLT partnering in insurance derivatives
London-based interdealer broker Icap and insurance group Jardine Lloyd Thompson (JLT) are to form a joint venture to trade derivatives based on insurance risk.
ABX widening stokes credit fears
Credit market worries are growing, as widening spreads on US subprime home equity securities shake US and European credit markets.
Tullett moves into energy
Market data provider Tullett Prebon Information has named Craig Tee as its first head of global energy and commodities.
ABN and Merrill launch first industrial property swap
Dutch bank ABN Amro and US bank Merrill Lynch have this week launched the first industrial property derivative.
Apollo poaches distressed debt team from Credit Suisse
New York-based private equity firm Apollo Management has poached two distressed debt bankers from Credit Suisse’s leveraged finance department.
IPD: Launch failure for property sector derivatives
Growth is levelling off in the UK property derivatives market, with disappointingly few sector trades, according to figures released by the Investment Property Forum (IPF) in London today.
OTC property derivatives to launch in Australia
A deal paving the way for an Australian over-the-counter property derivatives market was announced yesterday between RP Data, Rismark International and GFI.
Deutsche Bank names head of complex risk syndication
Deutsche Bank has named Martin Fisch as head of complex risk syndication, a newly created post in the global markets division.
TXU agrees to record $45 billion buyout
The board of TXU Corp, the Dallas-based energy company, has agreed to a $45 billion takeover by private equity firms Kohlberg Kravis Roberts, Texas Pacific Group and Goldman Sachs, the investment bank.
Islamic bonds widen appeal
Demand for Islamic bonds is extending beyond the original customer base, with growing issuance and strong secondary trading among non-Muslims.
FIA opposes CME-CBOT merger
The Washington-based Futures Industry Association (FIA) has opposed the proposed merger of the Chicago Mercantile Exchange (CME) and the Chicago Board of Trade (CBOT) on the grounds that it would reduce competition among US exchanges.
EDHEC: fraud is biggest hedge fund risk
More than three quarters of all hedge fund defaults are due to fraud or misrepresentation, according to a study by economists at the EDHEC business school in Nice.
JP Morgan hires EMEA equity marketing head
Adrian Valenzuela will join JP Morgan in London in May, as head of equity derivatives flow marketing for Europe, the Middle East and Africa.
No need for more hedge fund regulation, US group says
Despite its growth over the last seven years, there is no need to improve regulation of the private investment industry, a US government working group reported yesterday.