News
CME trading volume and profits grow
The Chicago Mercantile Exchange (CME) saw record trading volume in the second quarter of this year, up 33% from the same period in 2004, and reported profits well above 2004 levels.
Merrill Lynch Investment Management builds structured products team
Merrill Lynch Investment Management has lured Fernando Guerrero, a collateralised debt obligation (CDO) specialist, away from ABN Amro to head its planned structured products team in New York.
Deutsche snares top UBS energy structurer
Deutsche Bank has hired Louise Kitchen as global head of commodities structuring and marketing, based in New York.
Louise Kitchen joins Deutsche
Louise Kitchen will join Deutsche Bank as managing director and global head of commodities structuring and marketing within its global markets division, the firm has announced.
Siemens launches ABS programme based on low-value receivables
Siemens Financial Services (SFS) has released an asset-backed securities (ABS) 'light' programme, aimed at small and medium-sized companies with receivables portfolios of at least €3 million.
Joint indexes planned for Asian exchanges
Stock exchanges in Bangkok, Jakarta, Kuala Lumpur, Manila, and Singapore will collaborate to set up joint indexes for derivatives and fund managers.
China makes currency change
After months of increasingly fervent speculation on the future of the renminbi, the Chinese government yesterday shifted away from the currency’s peg to the US dollar.
Norton Rose hires Lovells derivatives partner
Norton Rose is moving to rebuild its structured finance and has hired Laurence Garside, formerly a partner in Lovells' derivatives practice.
JP Morgan bolsters derivatives marketing business
JP Morgan has hired four derivatives marketers for its streamlined derivatives marketing unit, including two managing directors from Deutsche Bank. They are the first significant appointments by the US investment bank since a steady stream of senior…
Webcast >> Op Risk Technology
OPERATIONAL RISK gathered together top technology executives in June to debate the future of the op risk discipline.
BNP Paribas adds six to commodity business
BNP Paribas has hired six senior traders and managers for its commodity derivatives offices around the world.
BNP Paribas strengthens energy derivatives team
French bank BNP Paribas has strengthened its commodity derivatives team in New York, London and Singapore, particularly on the energy side.
Former Swiss Re weather experts launch hedge fund
Weather risk veterans Mark Tawney and Bill Windle, who left global reinsurer Swiss Re on July 7, are starting a hedge fund, named Takara, Energy Risk has learned. Weather trader Bill MacLauchlan departed Swiss Re at the same time, for personal reasons.
One billion oil securities to be traded in London
Oil Securities is preparing to issue up to a billion debt securities, based on Brent and West Texas Intermediate prices, on the London stock exchange next week.
Ex-Citigroup prime broker sets up capital introduction firm
Paul Radley, formerly European head of Citigroup’s prime brokerage capital introduction team, has gone independent, establishing his own capital introduction firm, Radley Capital Investments.
Markit to use ICB classification
Markit Group is to adopt the Dow Jones/FTSE Industry Classification Benchmark (ICB) system for all its products, the group announced today.
Sponsor's article > AFS Perspective on Basel II and QIS 4:Where do we go from here?
U.S. federal banking agencies recently announced results of the fourth in a series of quantitative impact studies (QIS-4) designed to simulate implementation of the Basel Accord and measure the resultant impact on U.S.financial institutions' capital…
Nymex, Icap to launch gas, crude oil daily settlement derivatives
The New York Mercantile Exchange (Nymex) and inter-dealer broker Icap are to launch an electronic market in same-day over-the-counter (OTC) options on prompt-month settlement prices for crude oil and natural gas. Starting on Monday (July 18), the…
Bank of America hires credit and forex trading heads
Bank of America has hired three senior managers for its London-based global markets team, including new heads of European credit trading and global forex options correlation trading.
BarCap expands equity derivatives coverage
Barclays Capital has expanded its equity derivatives coverage with the hiring of Luca Agostini and Hermann Bader as directors in strategic equity derivatives.
Global Advisors names two managers for gas trading
New York commodity hedge fund Global Advisors has hired Adam Hoffman and Matthew Simsic as portfolio managers, aiming to increase its presence in the natural gas market.
SG boosts European rates sales
Société Générale has hired Jan de Bondt and Ian Morgan in rates sales as the bank looks to expand its European footprint in the rates business.
Nymex and Icap launch same-day OTC energy options
The New York Mercantile Exchange (Nymex) and brokerage firm Icap are to launch an over-the-counter (OTC) market in same-day options on crude oil and natural gas on July 18.
Converse joins Banc of America
Floyd Converse has moved from Goldman Sachs to Banc of America Securities, where he will head the US rates structuring unit.