News
Reuters buys risk management specialist Application Networks
Reuters has paid $41 million for Application Networks, a risk management software specialist.
Three dealers trial historical swaps archiving via SwapsWire
Three dealers – ABN Amro, JP Morgan and UBS – have uploaded a sample of historical swaps trading data to SwapsWire in London as part of a pilot project for resolving mismatches.
Growth in derivatives trading speeds up, says BIS
Trading on international derivatives exchanges has continued to pick up pace, according to the latest Bank for International Settlements (BIS) Quarterly Review, which was released today. The combined turnover in interest rate, equity and currency…
US senator voices concerns over Basel II in senate committee hearing
Senator Tim Johnson (Democrat, South Dakota) slammed aspects of Basel II in a US Senate committee on banking, housing and urban affairs yesterday for its regulatory burden on banks and claimed that the revised accord would stymie US competitiveness.
EC issues draft implementing measures for the Transparency Directive
The European Commission has published draft implementing guidelines for Directive 2004/109/EC, commonly known as the Transparency Directive. The Directive was created to boost investor protection safeguards and enhance market efficiency.
Caruana to join the IMF
Jaime Caruana, the current chairman of the Basel Committee on Banking Supervision (BCBS) and the governor of the Bank of Spain, has been appointed by the International Monetary Fund (IMF) as counsellor and director of the new financial, capital and…
McDonnell to head DB convertible bond trading
Deutsche Bank has named Andy McDonnell as global head of convertible bond trading.
Pay rises for risk managers, says report
Compensation for risk management professionals working in asset management firms grew 18% in 2005, with salaries rising 5.5% and bonuses up 20-30% on average, according to a study by US-based recruitment firm Risk Talent Associates.
New CDS documentation from Isda
The International Swaps and Derivatives Association has released standard documentation for three classes of credit default swap (CDS).
Regulators need balanced hedge funds supervision, say panellists at Iosco event
Hedge funds are providing more liquidity in financial markets but more regulation is also needed to allow them to grow and operate efficiently, said participants at the second public panel at the 31st Annual Conference of the International Organization…
Barclays launches managed CCO
Barclays Capital has launched Everest I, a managed version of the collateralised commodity obligation (CCO) structure it has helped pioneer.
Banks' management of credit risk should help them withstand shocks, says S&P
The global banking industry is generally strong and able to deal with sudden shocks because of its improved risk management, according to research by rating agency Standard & Poor's.
Jorion joins Paamco
California-based Pacific Alternative Asset Management Company (Paamco) has hired Philippe Jorion as a director in its risk management group.
Caruana to join IMF
Jaime Caruana, chairman of the Basel Committee and head of the Bank of Spain until July 1, is to head a new department covering financial, capital market and monetary affairs at the International Monetary Fund (IMF) in Washington. The appointment begins…
Goldman and Citigroup to become CBOT swaps market makers
From next month, Goldman Sachs and Citigroup will act as electronic market makers for the Chicago Board of Trade's (CBOT) five-year and 10-year interest rate swap futures contracts.
Risk 's Derivatives and Risk Management Summit Europe 2006: Regulators and ratings prevent meaningful Basel II savings
Banks may be unable to benefit from regulatory capital reductions under the Basel II reforms because of local rules and the requirements of rating agencies.
Risk 's Derivatives and Risk Management Summit Europe 2006: Hedge funds irked by culture of disclosure
Hedge fund managers have warned that increased demands for disclosure from their institutional investor clients and regulators could have some negative consequences for performance and market liquidity.
MFA's derivatives research foundation elects Handzy to board
The Foundation for Managed Derivatives Research (FMDR) has elected Damian Handzy to serve as a director on its board. Handzy is chairman and chief executive of Investor Analytics, a New York-based risk and portfolio management services firm.