News
Defrauded forex investors win compensation
Some 250 retail foreign exchange investors are set to receive $2.7 million in compensation, after a fraud committed by Gibraltar Monetary Corporation was uncovered by the Commodity Futures Trading Commission (CFTC) in the US.
Bloomberg provides STP for credit derivatives
Bloomberg has linked up with New York-based technology firm T-Zero to provide its users with an electronic affirmation process for credit default swaps (CDS). T-Zero’s straight-through processing (STP) will allow users to capture and communicate trade…
Cost of storage is secondary to the needs of end-users, says CESR
Although the cost of storage and filing of regulated information is an important consideration, the decision on which model of storage to implement should be based on the needs of the end-user and proper fulfilment if the transparency directive should…
Barclays hires 15 to equity division
Barclays Capital has hired 15 people across its equity-linked sales, trading and research desks in Europe, the US and Asia. The hires began at the beginning of the year, bringing the number of staff working across the equity division of the bank to 165,…
More trading in bond market transparency is unnecessary, says the FSA
Competition, market-driven transparency, regulation and the interaction between the cash and credit derivatives market is enough for efficient pricing and fair execution, according to a discussion paper on the UK secondary bonds markets released today by…
LCH.Clearnet chief Hardy resigns
David Hardy, chief executive of the London-based clearing house LCH.Clearnet, resigned yesterday, just two months after the departure of the company’s chairman, Gérard de la Martinière.
ABN Amro and Woori form fixed-income alliance
Dutch bank ABN Amro signed an agreement on June 26 to provide Korean firm Woori Investment & Securities with fixed-income derivatives expertise, including intellectual capital, product capability and IT systems.
New CIO for Tullett Prebon
Interdealer broker Tullett Prebon has named John Del Vecchio as its new chief information officer.
Fed Governor: the US is not an outlier in regards to Basel II implementation
Governor of the Federal Reserve Susan Bies emphatically stated that the US is fully behind implementation of Basel II, dismissing criticisms that a delay in US implementation will give rise to global home-host issues and undermine the international Basel…
Home-host complications are a worthwhile consequence of financial stability, according to BIS manager
General manager of the Bank for International Settlements (BIS), Malcolm Knight, has said that cross-border issues are a symptom of economic soundness, as they indicate well-thought out regulation and appropriate implementation of Basel II.
CME buys Swapstream
The Chicago Mercantile Exchange has paid $15 million for the London-based swaps trading platform Swapstream.
BGC appoints global head of inflation
Inter-dealer broker BGC has promoted D’Arcy Miell to global head of inflation products at its London headquarters. He moves from the broker’s New York office, where he worked as a director of US inflation derivatives for the past three years.
BoA snares Taishin's CRO as its new Taiwan chief
Financial markets veteran James Lin has become Bank of America’s (BoA) chief executive in Taiwan, moving from local firm Taishin Financial Holdings, where he was chief risk officer.
BNP Paribas adds to London fixed-income sales
BNP Paribas has recruited two senior fixed-income salesmen from Deutsche Bank for its flow rates sales team in Europe.
Most funds lack internal controls and capability to handle derivatives, says PwC
Most fund management companies do not have adequate internal controls and are unable to handle derivatives properly, according to a survey by UK accountants PricewaterhouseCoopers (PwC).