News
SG expands Scandinavian team
Société Générale has recruited two equity derivatives salesmen for its Scandinavian team, based in London.
Tullett Prebon creates new volatility division
London-based broker Tullett Prebon has completed its reorganisation with the creation of a new division covering several classes of futures and options.
BGC poaches four-strong Icap derivatives team
BGC Partners has hired a four-strong Scandinavian foreign exchange forwards and derivatives team from interdealer broker rival Icap in Copenhagen.
China plans Shanghai derivatives exchange
The Chinese government has approved a project by five Chinese stock exchanges to set up the country's first financial derivatives exchange in Shanghai.
Tradition hires Decillion credit team
Interdealer broker Tradition has hired a team of six credit brokers from Decillion, a South African financial services company.
DTCC hires Stenning as business development vice-president
The Depository Trust & Clearing Corporation (DTCC), a US information and clearance specialist, has hired Bill Stenning from SunGard as vice-president for business development.
FX and commodities head quits Calyon
Andrew Kellner, global head of foreign exchange and commodities at Calyon in London, has left the bank.
Mizuho signs up with Kamakura for default and correlations data
Mizuho Financial Group has signed up to Kamakura’s risk information services, the Honolulu-based software company has confirmed, as the Japanese financial behemoth seeks to strengthen its lending activities following years of write-offs.
New management at Ivy
Ivy Asset Management, a $14 billion US-based fund of hedge funds, has named two new co-presidents and a new chief investment officer.
ABX index to launch next week
The ABX asset-backed security index will launch next week as an easier way for investors to take positions in default risk on US residential mortgages, according to its developers, Markit and CDS IndexCo.
Credit derivatives operations get 33% rise in investment, says survey
Dealers devoted greater resources to their operations procedures in 2005, a year when both the UK Financial Services Authority and the New York Federal Reserve applied regulatory pressure on credit derivatives practitioners because of the rapid rise in…
Ice Futures to launch WTI contract
Ice Futures will launch a cash-settled West Texas Intermediate (WTI) light sweet crude oil futures contract on February 3. The contract will be automatically available to all users with access to Ice Futures oil contracts.
Coyne joins Citibank to head FX prime brokerage
Deutsche Bank’s former global head of forex prime brokerage Andrew Coyne has joined Citigroup to run its global foreign exchange prime brokerage operation in London.
BNP Paribas expands European forex teams
BNP Paribas has made a trio of hires in forex sales and trading across Europe.
Protego makes European property derivatives push
London-based Protego Real Estate Investors has hired Peter de Haas to head its new operations in Continental Europe.
SG appoints new commodity trading deputy
Société Générale (SG) has promoted Edouard Neviaski to deputy head of commodity trading, based in Paris.
Standard Chartered appoints capital markets chief
Brad Levitt has been promoted to global head of capital markets and wholesale banking at Standard Chartered in Singapore following the departure of the previous head David Worth.
Algorithmics and Citigroup in credit risk partnership
Algorithmics, a Toronto-based specialist in enterprise risk management, has entered into a strategic alliance with global banking giant Citigroup to deliver a global suite of credit risk models. The models will provide credit risk and default analytics…
BarCap extends Barx to variance swaps
Barclays Capital has extended Barx, its electronic single-dealer trading platform, to cover variance swaps. The service will enable Barclays’ customers to trade variance swaps on a variety of equity indexes through their Bloomberg terminals.
CME names new business development chief
The Chicago Mercantile Exchange (CME) has named John Davidson as chief corporate development officer.
Standard Chartered bolsters Asian forex team
Standard Chartered has hired Fu Qing from ABN Amro to head its foreign exchange trading business in Shanghai. Fu, who started with Standard Chartered on January 4, had previously worked for ABN Amro in Shanghai, where he was assistant vice-president of…
Markit and FT Interactive Data to form strategic alliance
Markit and FT Interactive Data have formed a partnership in corporate and government bond evaluations that the companies believe will provide a greater degree of transparency in the credit markets.
Deutsche credit correlation trader under investigation for £30m shortfall
A credit derivatives trader at Deutsche Bank in London was suspended in mid-December pending an internal probe into how he managed to overstate the profits on his book by £30 million. Anshul Rustagi, who traded tranched credit indexes for the bank’s…
DrKW electronic drive sparks personnel moves
Dresdner Kleinwort Wasserstein (DrKW), the investment arm of Germany’s Dresdner Bank, plans to further separate its credit flow products and digital markets divisions as part of what it calls an effort to expand electronic trading across its business.