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Euronext.Liffe launches OTC facility
European stock and derivatives exchange Euronext.Liffe has launched a new facility for trading over-the-counter equity derivatives.
Duke gets all clear on accounting investigation
The US Department of Justice has closed its grand jury investigation into issues related to Duke Power’s regulatory reporting, concluding that no action is warranted against the company. Duke, the North Carolina-based energy company, was informed of the…
CSFB recruits equity derivatives marketer
Credit Suisse First Boston (CSFB), the investment banking arm of Zurich-based financial services company Credit Suisse Group, has hired Stephen Roti as managing director and head of US corporate equity derivatives marketing, within the equity-linked…
IAS39 amended to allow for macro hedging
Controversial International Accounting Standards Board (IASB) proposals for the marking-to-market of derivatives, known as IAS39, are to be amended to allow for ‘macro hedging’.
Massive hike in credit derivatives pay, survey shows
London-based managing directors running exotic credit trading businesses at top-tier investment banks can expect pay increases of almost 50% from what they got last year, according to a survey.
HSBC reaps rewards in US
HSBC has seen a threefold increase in foreign exchange client volume in North America over the past year, following its recruitment drive in the region, reports Risk’s sister publication FX Week .
Deutsche Bank snares Goldman option traders
Deutsche Bank has snared two interest rate options traders from rival investment bank Goldman Sachs.
Chinese liberalisation driving increased demand for sales staff
Foreign exchange sales staff with expertise in China are set to be in particular demand in 2004, according to recruitment specialists in the Asia-Pacific, reports Risk’s sister publication FX Week .
ISE to route to US options exchanges
The International Securities Exchange (ISE) has enhanced its OM Click Trade front end so that it can route members’ orders to any U.S options exchange, reports Risknews’ sister publication Trading Technology Week .
Lehman hires for global options
Lehman Brothers has hired two options traders in a continued expansion of its global currency options team, reports Risk’s sister publication FX Week . Lars Ahlgreen, formerly of Credit Agricole Indosuez, is set to join in London in April as a senior…
Flesaker quits MBIA for Morgan Stanley
Bjorn Flesaker, head of quantitative risk at MBIA, has quit the monoline insurer to take up a senior quantitative analyst position at Morgan Stanley.
GEM and Systemwire to launch OTC derivatives trade matching system
London-based Systemwire has teamed up with New York-based Global Electronic Markets (GEM) to develop a new software platform for automated trade matching and rule-based trade validation, called FpML Mediator.
Flesaker quits MBIA for Morgan Stanley
Bjorn Flesaker, head of quantitative risk at MBIA, has quit the monoline insurer to take up a senior quantitative analyst position at Morgan Stanley.
Barclays Capital becomes PGM market maker
UK investment bank Barclays Capital yesterday began market making in platinum and palladium.
NAB releases Apra report
National Australia Bank has unexpectedly released in full a report by Australia’s banking regulator, the Australian Prudential Regulation Authority (Apra), on the A$360 million options trading debacle.
Nymex reshuffles board
Richard Schaeffer, executive director of global energy futures at Dutch bank ABN Amro, has been appointed vice- chairman of the board of the New York Mercantile Exchange (Nymex).
Merrill hires Joonkee Hong to head Korean debt markets
Merrill Lynch has hired Joonkee Hong from UBS as a managing director to head its debt markets in South Korea.
Deutsche appoints two to head US structured credit
Deutsche Bank has appointed two co-heads of structured credit trading for North America, Kevin Bell and Ross Taylor, who will be based in the bank’s New York office.
Arete expands database of structured products
StructuredRetailProducts.com, a derivatives and structured products website owned and maintained by London-based risk management consultancy Arete Consulting, has expanded its coverage with the addition of a database of more than 300 French products…
UK banks unprepared
Many UK banks are still unprepared for the implementation of the new Basel Accord for risk-based capital allocations, according to Chase Cooper, a London-based operational risk and corporate governance solutions provider.
NAB to keep revised system
National Australia Bank (NAB) officials have no plans to replace their currency options trading platform in light of the recent $280 million (A$360 million) foreign exchange rogue trading scandal that has enveloped the bank over the last two months,…
MexDer launches options trading business
MexDer, the derivatives exchange of Mexico, celebrated the launch of its market for financial options yesterday.