News
Deutsche Börse to commence mutual fund trading
Deutsche Börse will launch trading of actively managed mutual funds next month, in a move aimed at attracting more private investors to the exchange.
CreditTrade implements straight-through processing
London-based inter-dealer broker CreditTrade has adopted straight-through processing by teaming up with London-based technology firm T-Zero. Within the next few weeks, banks will be able to streamline the processing and confirmation of credit derivatives…
Ex-Deutsche’s Raynes to head Citigroup’s structured credit division
Citigroup has appointed Michael Raynes as head of its global structured credit products division in New York. He joins from Deutsche Bank, where he spent six years, most recently as head of the global CDO group and co-head of the global securitised…
MoU between EU/EEA and Swiss supervisors on insurance supervision agreed
The Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) and the Federal Office of Private Insurance (FOPI) have released a memorandum of understanding (MoU) designed to facilitate information exchange between the EU/EEA…
BMA releases CDO data
The Bond Market Association (BMA) has made publicly available quarterly and yearly data on collateralised debt obligation (CDO) issuance for the first time. “Publishing this data is another step forward in the efforts to make the CDO market more…
BNP reshuffles credit research team
BNP Paribas has reorganised its London-based European credit research group to include a new relative-value desk.
Nasdaq buys into LSE
New York-based Nasdaq has taken a 14.99% stake in the London Stock Exchange, giving it a headstart over its rivals in the struggle for the London bourse.
The great rating debate
A conference in Paris exposed some criticism of the way the rating agencies function. Issuers and investors feel the industry suffers from a lack of competition which has harmed service levels. Sarfraz Thind reports
European business under-prepared for Mifid, says KPMG
A survey by the international financial services firm KPMG has found that European executives are under-prepared for the implementation of the European Union’s Markets in Financial Instruments Directive (Mifid).
EU leaders warned of hedge fund risk
The European Union's financial committee has warned European finance ministers that hedge funds could threaten the entire financial system, according to a leaked report.
Credit Suisse and Woori enter into JV
Credit Suisse and Woori Financial Group have signed a joint venture agreement to create an asset management company in Korea. The JV, which is expected to be operational from the end of May, will be called Woori Credit Suisse Asset Management.
Markit launches portfolio valuation service
London-based data services provider Markit has launched a global portfolio valuation service, which will provide post-trade calculations of gross asset values of securities, alongside vanilla and exotic over-the-counter derivatives.
Eric Viet quits JP Morgan to launch pension buy-out fund
JP Morgan’s Eric Viet has quit his position as head of the US banking giant’s European pensions group, to set up a private equity buy-out fund based in London. He is joined by Amédée Levillain, who worked alongside him at JP Morgan.
S&P expands its valuation services for complex structures
Standard and Poor's (S&P) has linked-up with New York-based Complex Security Valuations (CSV) in order to expand its market valuation services of complex, illiquid securities and derivatives.
Wang joins Deutsche as US power trader
Steve Wang has joined Deutsche Bank's New York commodities group as a director of US power trading.
Ernst & Young releases survey results on the business impact of Basel II
Processes and systems, along with the way risks are managed, are signifying a new era in the global financial services market, according to the results of an Ernst & Young poll of over 300 banks.
Hong Kong’s SFC tightens sponsor regulations
Hong Kong’s Securities and Futures Commission (SFC) has released its new eligibility criteria for sponsors and compliance advisers, aimed at assessing the overall suitability of corporate finance advisory firms to act in these roles. The regulations go…
Eurex extends equity trading hours to appeal to Asia
Eurex is to extend trading of its euro-denominated equity index products by one hour from June 1, as the exchange seeks to draw in more trade from clients in Asia-Pacific time zones. Trading will begin at 8am Central European Time instead of the current…
CBRC concerned about selling Chinese banks
The China Banking Regulatory Commission (CBRC) has admitted it is concerned about the role of foreign financial firms operating in China.
Derivatives trading up in Korea
The notional amount of derivatives traded in Korea last year grew by 43.6% to KRW38,427 trillion ($40.5 trillion), according to data released by Korea’s financial regulator, the Financial Supervisory Service (FSS),