News
CME, CBOT to merge
The Chicago Mercantile Exchange is to merge with the Chicago Board of Trade in a move the exchanges say is “expected to transform global derivatives markets.”
Hong Kong SFC appoints chairman
Hong Kong’s Securities and Futures Commission (SFC) has appointed Eddy Fong as chairman with effect from October 20. The position had been vacant since late June, when previous chairman Martin Wheatley became chief executive.
CME and CBOT to merge
The Chicago Mercantile Exchange and the Chicago Board of Trade are to merge, forming a new exchange valued at $25 billion.
GFI and Colliers launch Hong Kong property derivatives
US interdealer broker GFI Group has partnered with property consultancy Colliers International to provide broking services in Hong Kong property derivatives to banks, funds and property companies.
NY bank regulator is appointed head of supervision by Qatar financial centre
Head of bank supervision at the NY state banking department to lead regulatory dialogue with authorised institutions in the country’s new financial centre.
Morley hires sell-side derivatives specialist
London-based Morley Fund Management, the asset management arm of insurance company Aviva, has recruited a sell-side derivatives specialist as it prepares to make greater use of over-the-counter products.
GFI boosts coal derivatives team
US interdealer broker GFI Group has expanded its Newcastle free-on-board (FOB) coal derivatives coverage in London and Singapore. The Singapore desk has been set up to complement the company’s growing physical coal broking business in the Asia-Pacific…
Hedge funds are a danger to pensions, US senator says
Chuck Grassley, chairman of the US Senate's finance committee, has warned that "secretive" hedge funds are endangering US pension schemes.
FSA warns of complacency in stress testing
Financial institutions should use more extreme scenarios in stress testing, the UK Financial Services Authority (FSA) has warned.
BIS publishes current best practices in AMA for operational risk
BIS paper shows best practices for the key challenges of internal governance, data and modelling.
Buyout creates largest US independent power transmission co
Michigan Electric Transmission Company has been acquired by ITC Holdings in an $865 million deal which creates the largest independent electricity transmission company in the United States , based on transmission load served.
Risk USA: Janeway to discuss the limits of modelling
William Janeway, vice-chairman of US private equity company Warburg Pincus, will warn investors of the limits of risk modelling at the Risk USA conference in New York next month.
BNP hires Docherty as global head of financial institutions advisory
BNP Paribas has today announced the appointment of Adrian Docherty as global head of financial institutions advisory within the investment bank’s fixed-income division.
Risk USA: Rohde calls for 'third way' on pension reform
Lars Rohde, chief executive of ATP, the Danish supplementary pension fund, will call for a 'third way' of dealing with pension shortfalls at the Risk USA conference in New York next month.