News
Amerex's Prokop joins Energy Data Hub board
The Energy Data Hub has appointed Mike Prokop, senior vice president at energy brokerage Amerex, to its board of directors.
Citi continues risk advisory and structured products build-up
Citigroup has made two hires as it builds its foreign exchange risk advisory and structured products teams in London. Both teams sit within the bank's value-added services and products group (Vasp), which it established a year ago.
Basel II to reduce capital on rated securitisation positions
The minimum capital requirements under the new Basel framework, also known as Basel II, will lower the amount of capital that implementing banks will be charged for rated securitisation positions, according to new research by FitchRatings, the rating…
ING Vysya strengthens wholesale operations
Bangalore-based ING Vysya bank has hired Janak Desai as country head of financial markets for India. He will join the bank on November 1 and report to ING Vysya chief executive Bart Hellemans.
ABN Amro beefs up Asian distribution
ABN Amro plans to build up its Asian marketing effort by adding two staff to its derivatives sales and solutions group (DSSG) in Hong Kong.
Structured products in the spotlight
Concerns over the mis-selling of structured products to investors in the US have prompted the National Association of Securities Dealers (NASD) to issue guidelines to ensure members fall within the scope of sales practice codes.
Risk ALM USA 2005: Panel discusses differing approaches to ALM
Leonard Matz, a managing director at Kamakura Corporation – a Hawaii-based risk technology vendor – has cautioned against misuse of VAR. “I believe it’s a huge mistake to apply VAR to look at the funding [side] of the balance sheet,” said Matz who was…
Most US lenders would survive bursting of a real estate bubble
Research by Standard & Poor’s suggests that most US mortgage firms would be able to withstand the bursting of a US housing bubble, despite the greater credit risk associated with current mortgage portfolios.
Risk management key for freight, says Baltic Exchange chief
Baltic Exchange chief executive Jeremy Penn has stressed the importance of risk management at a forum of freight derivatives brokers and traders this week.
DrKW builds exotic equity team
Dresdner Kleinwort Wasserstein has added four members to its exotic equity derivatives business. The hires were made to expand the team and the bank's structured products business.
Five market-makers back CME eurozone inflation futures
Barclays Capital, Ixis Corporate and Investment Bank, Lehman Brothers, Nomura International and the Royal Bank of Scotland have all agreed to become market-makers for the Chicago Mercantile Exchange’s (CME) new eurozone inflation futures contract. The…
Lloyds TSB appoints head of quantitative analytics
Lloyds TSB Financial Markets has appointed John Crosby as global head of quantitative analytics and research in London. He will lead a team of quants and will be responsible for developing models for pricing derivatives instruments across all asset…
Icap bolsters structured credit team
Inter-dealer broker Icap is raising the stakes in the competitive structured credit broker market with three new appointments – two of which were poached from rival CreditTrade.
BNP Paribas adds to structured credit team
BNP Paribas has hired Damian Saunders as a senior syndicate manager in its structured credit team in London. Saunders will report to Guy Rose, head of BNP Paribas' European structured credit syndicate.
LCH.Clearnet launches OTC clearing for freight derivatives
LCH.Clearnet has launched an OTC clearing service for the forward freight agreements (FFAs).
Isda’s ‘novation protocol’ aims to tackle derivatives backlogs
The world's major derivatives dealers have signed up to the International Swaps and Derivatives Association’s long-awaited ‘Novation Protocol’, which seeks to facilitate the transfer of existing trades to third parties.
ABN Amro reinforces equity derivatives team
ABN Amro has added two senior traders to its equity derivatives team in London, hoping to tap a larger investor market.
Nymex pit opens in London
Some 76 individuals and 12 companies showed up to trade Brent and gas oil futures on the first day of trade at the New York Mercantile Exchange’s London trading floor today (Monday).
MarketAxess launches CDS index trading platform
MarketAxess has launched a multi-dealer credit default swap (CDS) index trading service in London and New York. The New York-based company is targeting end-users to use the service.
Lloyds TSB hires Fortis Bank's structured credit team
Lloyds TSB Financial Markets has brought Fortis Bank's structured credit team to London to reinforce its own structured credit operation.
Banc of America hires eight for European equity team
Banc of America Securities has taken on eight traders and marketers to increase the size of its London-based European equity derivatives team.
TriOptima run sees $127 billlion in CDS torn up
Stockholm-based TriOptima said its latest credit default swaps (CDS) tear-up run has eliminated contracts with a notional value of $126.6 billion.
TFS starts brokering CDM and JI emissions credits
TFS, a New York-based inter-dealer broker, has started brokering emissions credits under the Kyoto Protocol’s Clean Development Mechanism (CDM) and Joint Implementation (JI) schemes.
Indian exchange to list IPE Brent crude futures
Oil traders in India will from September 15 be able to trade rupee-denominated Brent crude futures, settled monthly by reference to the benchmark IPE Brent crude futures contract.