News
Banks need to focus on Pillars II and III says Celent
Banks may be over-emphasising the requirements for Basel II’s Pillar I, which sets the standard for risk-adjusted capital adequacy ratios, while overlooking the importance of Pillars II and III, which cover topics such as corporate governance, according…
RBS names new head of Asian futures
Royal Bank of Scotland (RBS) has named Chin Leng Woon as its new head of futures for Asia at its Singapore office.
Santander appoints new quants head
Banco Santander Central Hispano has hired François Friggit as head of quants, for interest rates and hybrid products at the bank’s headquarters in Madrid.
BoA mis-states derivatives positions by $345 million
Bank of America has contravened Financial Accounting Standards Board (FASB) rules regarding its treatment of derivatives instruments and will recalculate all of its financial statements since 2002.
BNP Paribas merges interest rate and forex trading businesses
BNP Paribas has combined its interest rate and foreign exchange trading capabilities as part of a reorganisation aimed at improving efficiency.
Asia-Pacific CDO issuance to rise this year, says Fitch
There is likely to be an increase in the issuance of collateralised debt obligation (CDO) issuance in the Asia-Pacific region in 2006, rating agency Fitch said in a new report.
Ferguson quits the Fed
Roger Ferguson, the vice-chairman of the Federal Reserve, resigned today after two years in the post.
Timetable chaos
US regulators' decision to delay Basel II by one year has frustrated international banks, causing some to reassess their global implementation plans. With the US regulators yet to release national implementation guidelines, bankers and supervisors are…
CME eyes energy market
The Chicago Mercantile Exchange plans to launch energy futures contracts once its non-competitive agreement with the New York Mercantile Exchange expires this summer.
ABN Amro opens commodity desk in Brazil
ABN Amro has started trading commodity futures in Brazil with the opening of its new sugar desk in Sao Paulo.
CAO finance chief sentenced in Singapore
A Singapore court has sentenced Peter Lim, former chief finance officer of China Aviation Oil (CAO), to two years in prison for his part in the firm's 2004 derivatives scandal.
E.ON bids $35 bn for Endesa
German power and gas company E.ON has announced a $35 billion (29.1 billion euro) bid for Spain’s largest power company Endesa.
Macquarie threatens LSE pullout
Macquarie Bank has confirmed it will not increase its current offer of 580p for shares in the London Stock Exchange (LSE) and has threatened to pull out of the running once that bid expires at the end of the month, according to a company statement.
Five brokers promoted at Tullett Prebon
Tullett Prebon has promoted four rates brokers and an energy broker in its London office.
Fitch expects growing Chinese CDO issuance
Fitch Ratings said it expects more issuance of collateralised debt obligations (CDOs) from China in 2006, following the launch of the country’s first officially recognised CDO in December 2005.
Euronext goes live on single feed
Pan-European exchange Euronext is shutting down LMF 2, its derivatives data feed for the Brussels, Lisbon, London and Paris markets, after completing the consolidation of all of its feeds onto one platform.