News
ABN Amro expands global commodity derivatives team
Dutch bank ABN Amro has made five appointments to its global commodity derivatives team in both the London and New York offices.
Cantor Fitzgerald to spin off its global voice brokerage business
Cantor Fitzgerald will spin off its global voice brokerage business as a new company, BGC Partners, effective from October 1 this year.
Non-G10 countries to implement Basel II over 2007-09
South Africa has set January 1, 2008 as the implementation date for the new Basel Accord, also known as Basel II, according to Carel Oosthuizen, the head of Basel II implementation at the South African Reserve Bank.
Citi trades prompt MTS limits
Citigroup ignited a major market movement in the European government bond markets last week, prompting electronic execution platform provider MTS to implement temporary limits on orders, an industry source familiar with the situation told RiskNews’…
BNP Paribas snares Chicago sales head
BNP Paribas has hired Matthew Schultheis as director and head of sales for its Chicago office.
Morgan Stanley Investment Management hires chief risk officer
Morgan Stanley Investment Management (MSIM) has hired Kenneth Winston as managing director and chief risk officer, reporting to the company’s president and chief operating officer, Mitch Merin.
User Choice winners revealed
Energy Risk's first User Choice Awards have been a tremendous success, with over 450 valid votes showing which vendors and data providers are the preferred suppliers to the energy industry in 2004.
EnergyCurves to market North American energy data
Four energy brokers have formed a Houston-based company called EnergyCurves to provide North American power and gas data services to the energy markets. The initial EnergyCurves products will be forward price curves for the North American gas and power…
Nymex and Shanghai Futures Exchange look to work together
The New York Mercantile Exchange (Nymex) and the Shanghai Futures Exchange (SHFE) have signed a memorandum of understanding to explore potential areas of cooperation which they say could mutually benefit the memberships of both exchanges.
Shanghai Futures Exchange signs MoU with Nymex
The Shanghai Futures Exchange (SHFE) has signed a memorandum of understanding (MoU) with the New York Mercantile Exchange (Nymex) to explore potential areas of cooperation for the mutual benefit of both exchanges.
Barclays Capital builds up global interest rate derivatives desk
UK-based investment bank Barclays Capital has made two new appointments to its interest rate derivatives desk in London to focus on exotic products. Both will take up their posts in September.
Electronic CDS trading to remain insignificant until 2006, says Celent
Credit default swaps (CDSs) will not be traded electronically to a significant degree until at least early 2006, according to a report.
Merrill makes additions to EMEA equity-linked group
Merrill Lynch has made a number of appointments to its Europe, Middle East and Africa (EMEA) equity-linked group in London. All will report directly or indirectly to Harry Lengsfield, head of EMEA global markets.
Bank of America strengthens its European debt platform
Bank of America has made a number of appointments to its European debt team in London.
Icap launches FRA matching service in Australia
UK-based broker Icap has launched its forward rate agreement (FRA) matching system, Fra-Cross, for Australian dollar-denominated instruments. The new service intensifies Icap's pressure on Switchfix, the first matching service, launched out of Singapore…
Op risk expenditure to shoot up, predicts report
Expenditure on operational risk technology systems will rise to $8.2 billion by 2007 from the current level of $5.2 billion, according to research published by Towergroup, the Massachusetts-based technology consultants.
PNC hires Gillani to oversee market risk
Pittsburgh-based PNC Financial Services has hired Fleet Boston’s former executive director of global market risk management, Aleem Gillani, as chief market risk officer.
Alliant to sell utility businesses
Wisconsin-based Alliant Energy Corp says it intends to sell its two utility businesses in Illinois because of the challenge of operating them in a cost-effective manner.
SuperDerivatives upgrades forex platform
Options pricing systems vendor SuperDerivatives has launched an upgrade of its SD-FX system, according to RiskNews’ sister publication, Dealing With Technology .
Barclays Capital hires US corporate risk marketer
Barclays Capital has hired Peter Toolan as a director in its corporate risk management and derivatives management team.
HSBC’s profits up by a third
HSBC’s foreign exchange profits so far this year are up by more than a third compared with last year, with a massive $902 million earned from forex dealing in the first half, reports RiskNews' sister publication, FX Week .
Directory Listing >> Datawatch solutions and the quest for Basel II compliance
It has never been more important for organisations to have control over their data. In the aftermath of the astonishing accounting scandals of Enron, Worldcom, Adelphia, Global Crossing and others, the Sarbanes-Oxley Act together with the Basel 2 Accord…
RWE Trading names Senior replacement
Brian Senior, Swindon-based managing director and head of UK energy at RWE Trading, will step down at the end of the year, and Peter Kreuzberg, head of risk management at parent company RWE, will replace him.
Bright future for weather derivatives, finds survey
Energy Risk has completed its inaugural weather derivatives survey and the results show that traders appear to be confident about the state of their business, despite high profile exits from the industry in recent years.