News
Czech commodity exchange powers up
The Prague Stock Exchange (PSE), with the support of the Czech Ministry of Industry and Trade, is in the process of establishing a new energy commodity exchange, Energetická Burza. The new exchange will rely on the PSE’s established trading systems, and…
Dougan chosen to replace group chief at Credit Suisse
Brady Dougan, chief executive of Credit Suisse’s investment banking division, has been appointed successor to Oswald Grübel as the group’s chief executive. Grübel plans to retire at Credit Suisse’s annual general meeting on May 4.
CBOE files for demutualisation on way to IPO
The Chicago Board Options Exchange (CBOE) has filed for demutualisation and restructuring as it heads for an initial public offering (IPO). The exchange'smembers will receive stock but lose their trading rights as part of the process.
Deutsche hires new wealth management head in Asia
Deutsche Bank has reshuffled its wealth-management heads in Singapore, following the poaching of Ravi Raju from Citigroup’s wealth-management arm.
Moody’s: “unprecedented” interest in CDPCs
New York-based ratings agency Moody’s has said it is currently processing proposals for 24 rated credit derivatives product companies.
Nymex and Montreal form alliance
The New York Mercantile Exchange (Nymex) is to form a “strategic alliance” with the Montreal Exchange (MX), Canada’s largest financial derivatives exchange.
Nymex to list catastrophe risk futures contracts
The New York Mercantile Exchange (Nymex) has announced that it will list three new financially settled catastrophe risk (CAT risk) index futures contracts.
CME launches hurricane index
The Chicago Mercantile Exchange (CME) is expanding its weather derivatives product range with the launch of CME-Carvill Hurricane Index futures and options on futures contracts.
LCH.Clearnet announces share repurchase
Clearing house LCH Clearnet has reached agreement in principle regarding the repurchase of the majority of the shares held by its largest shareholder, Euronext, a European cross-border exchange.
CME prepares to launch hurricane derivatives
The Chicago Mercantile Exchange (CME) will launch hurricane index futures and options on March 12.
JP Morgan hires retail structured products head
JP Morgan is making changes within its equity derivatives division in Asia, as part of a global reorganisation of its derivatives sales force, to create a retail-focused cross-asset-class group.
BoA does deal with Justice Department over municipal bonds
Bank of America, the second largest US bank, has signed a 'leniency agreement' with the US Department of Justice, in return for the bank’s co-operation with the department’s investigation into municipal derivatives.
Eurex to open hub in Dubai
Eurex, the world’s largest derivatives exchange, will open a trading hub in Dubai in April, subject to approval from the Dubai Financial Services Authority.
F&C poaches hedge fund specialists from London & Capital
London-based asset manager F&C has hired a team of four hedge fund specialists to launch a fixed income hedge fund within its alternative investments division.
Susan Schmidt Bies resigns
Susan Schmidt Bies has resigned as a member of the Board of Governors of the Federal Reserve System
BarCap structuring second collateralised forex deal
Barclays Capital is planning another bespoke collateralised foreign exchange obligation (CFXO), worth €20–€50 million, after closing its first at the end of 2006.