News
Fitch acquires Reoch Credit
Fitch has today announced the acquisition of London-based credit derivatives analytics firm Reoch Credit as part of its drive to provide market risk assessment services for the synthetic collateralised debt obligation (CDO) market.
SIA and BMA to merge
The Securities Industry Association (SIA) and the Bond Market Association (BMA) have announced that they will merge to form the Securities Industry and Financial Markets Association (SIFMA).
Tiner warns banks of cross-market correlation risk
John Tiner, chief executive of the UK Financial Services Authority, has warned UK banks that their stress testing may not be adequate against a widespread downturn.
Korea derivatives trading volumes almost double in first quarter
South Korea saw a 93.5% increase in the notional volume of derivatives trading in the first quarter of 2006. In January to March, 12,907 trillion won ($13.7 trillion) were traded, compared with 6,671 trillion won in the corresponding period last year.
RBS recruits debt market strategy head for Japan
John Richards has moved from Barclays Capital to RBS Securities Japan, where he will head the Asia-Pacific debt market strategy and economics team.
Icap forms joint venture in China
Interdealer broker Icap is to form a joint venture with the China Foreign Exchange Trade System & National Interbank Funding Center (Cfets). The venture – Shanghai Cfets International Money Broking – will provide voice-broking services for the money,…
JP Morgan launches tradable iTraxx total return swaps
JP Morgan has today launched tradable iTraxx total return swaps (TRS) that will enable investors to have both long and short exposure risk in the European credit derivatives market.
Swapstream offers electronic butterfly spreads
Swapstream, the London-based electronic trading platform for interest rate swaps established in 2003, has launched the trading of implied butterfly spreads on its platform.
Deutsche hires Gunewardena to strengthen prime brokerage
Deutsche Bank has appointed Mel Gunewardena as managing director and global head of fixed income prime brokerage, within its global markets division.
Man Group snaps up 70% of Eurex US
Hedge fund manager and futures broker Man Group is to buy 70% of US Futures Exchange, formerly Eurex US, at a total cost of $58.2 million.
Citigroup snares Calpine CFO to head commodity capital markets
Citigroup has appointed Rodney Malcolm as managing director and global head of commodity capital markets.
SEC chief calls hedge fund oversight "inadequate"
US Securities and Exchange Commission (SEC) chairman Christopher Cox has called for more power to regulate hedge funds, saying that current rules are "inadequate".
Threadgold quits JP Morgan to run market risk at UBS
Andrew Threadgold, global head of market risk at JP Morgan Chase, has quit the US dealer to take on a similar role as global head of market risk at UBS.