News
Credit derivatives to hit $33 trillion by 2008, says BBA
The global market for credit derivatives is expected to reach $33 trillion by the end of 2008, according to a British Bankers’ Association (BBA) report released at its credit derivatives conference last week.
ECX and Ice Futures to launch emissions options
The European Climate Exchange (ECX) and Ice Futures will launch the Ice Futures ECX CFI Options Contract (ECX CFI Option) on Friday 13 October, subject to regulatory approval.
Barclays adds functions to Barx for FX
Barclays Capital has added new functions to its Barx for FX trading platform.
BarCap and Integral develop FX trading system
Barclays Capital and Integral, the Mountain View-based foreign exchange systems vendor, are developing a new product aimed at regional banks and brokers.
Icap held merger talks with LSE
The London-based interdealer broker Icap today confirmed that it has pulled out of negotiations with the London Stock Exchange (LSE) after holding merger talks to create a £6 billion UK-based exchange.
Bear Stearns chairman becomes Europe boss
Michel Peretie, chairman of Bear Stearns’ international arm, has been appointed to the new post of chief executive in Europe.
CBOT developing credit derivatives contract and expanding metals coverage
The Chicago Board of Trade (CBOT) is planning to offer credit derivatives to its customers.
Citi reorganises structured credit
Citigroup has reorganised and expanded its global structured credit business. The firm has combined its cash and synthetic structured credit businesses and made some key hires, as well as establishing an illiquid structured credit trading business area…
FSA intensifies scrutiny of OTC derivatives market
The UK’s Financial Services Authority (FSA) has warned investment banks and hedge funds that they need to address persistent weaknesses in the derivatives market.
Settlement biggest CDS market challenge, says Fitch
Prompt and efficient settlement is one of the biggest challenges facing the credit derivatives market, according to a survey published today by Fitch Ratings.
BNP hires two in hedge fund equity finance sales
BNP Paribas has filled two new positions on its European team selling equity finance to hedge funds.
TradeWeb offers Canadian bonds to Europe
Thomson TradeWeb, the Jersey City-based fixed-income trading system, has made Canadian bonds available to European customers with Toronto-based network CanDeal.
Boom in derivatives IT spending to hit $5.75 billion by 2009
Boston-based financial services research and consultancy organisation TowerGroup estimates that global IT spending on derivatives will grow 18% annually over the next three years.