News
FX and commodities head quits Calyon
Andrew Kellner, global head of foreign exchange and commodities at Calyon in London, has left the bank.
Mizuho signs up with Kamakura for default and correlations data
Mizuho Financial Group has signed up to Kamakura’s risk information services, the Honolulu-based software company has confirmed, as the Japanese financial behemoth seeks to strengthen its lending activities following years of write-offs.
New management at Ivy
Ivy Asset Management, a $14 billion US-based fund of hedge funds, has named two new co-presidents and a new chief investment officer.
ABX index to launch next week
The ABX asset-backed security index will launch next week as an easier way for investors to take positions in default risk on US residential mortgages, according to its developers, Markit and CDS IndexCo.
Credit derivatives operations get 33% rise in investment, says survey
Dealers devoted greater resources to their operations procedures in 2005, a year when both the UK Financial Services Authority and the New York Federal Reserve applied regulatory pressure on credit derivatives practitioners because of the rapid rise in…
Ice Futures to launch WTI contract
Ice Futures will launch a cash-settled West Texas Intermediate (WTI) light sweet crude oil futures contract on February 3. The contract will be automatically available to all users with access to Ice Futures oil contracts.
Coyne joins Citibank to head FX prime brokerage
Deutsche Bank’s former global head of forex prime brokerage Andrew Coyne has joined Citigroup to run its global foreign exchange prime brokerage operation in London.
BNP Paribas expands European forex teams
BNP Paribas has made a trio of hires in forex sales and trading across Europe.
Protego makes European property derivatives push
London-based Protego Real Estate Investors has hired Peter de Haas to head its new operations in Continental Europe.
SG appoints new commodity trading deputy
Société Générale (SG) has promoted Edouard Neviaski to deputy head of commodity trading, based in Paris.
Standard Chartered appoints capital markets chief
Brad Levitt has been promoted to global head of capital markets and wholesale banking at Standard Chartered in Singapore following the departure of the previous head David Worth.
Algorithmics and Citigroup in credit risk partnership
Algorithmics, a Toronto-based specialist in enterprise risk management, has entered into a strategic alliance with global banking giant Citigroup to deliver a global suite of credit risk models. The models will provide credit risk and default analytics…
BarCap extends Barx to variance swaps
Barclays Capital has extended Barx, its electronic single-dealer trading platform, to cover variance swaps. The service will enable Barclays’ customers to trade variance swaps on a variety of equity indexes through their Bloomberg terminals.
CME names new business development chief
The Chicago Mercantile Exchange (CME) has named John Davidson as chief corporate development officer.
Standard Chartered bolsters Asian forex team
Standard Chartered has hired Fu Qing from ABN Amro to head its foreign exchange trading business in Shanghai. Fu, who started with Standard Chartered on January 4, had previously worked for ABN Amro in Shanghai, where he was assistant vice-president of…
Markit and FT Interactive Data to form strategic alliance
Markit and FT Interactive Data have formed a partnership in corporate and government bond evaluations that the companies believe will provide a greater degree of transparency in the credit markets.
Deutsche credit correlation trader under investigation for £30m shortfall
A credit derivatives trader at Deutsche Bank in London was suspended in mid-December pending an internal probe into how he managed to overstate the profits on his book by £30 million. Anshul Rustagi, who traded tranched credit indexes for the bank’s…
DrKW electronic drive sparks personnel moves
Dresdner Kleinwort Wasserstein (DrKW), the investment arm of Germany’s Dresdner Bank, plans to further separate its credit flow products and digital markets divisions as part of what it calls an effort to expand electronic trading across its business.
BIS appoints new chairman
The Bank of International Settlements (BIS) has elected Jean-Pierre Roth as its new chairman for a period of three years commencing March 1.
Caruana to step down as Basel Committee chief
Jaime Caruana will step down as chairman of the Basel Committee on Banking Supervision in July, when his six-year tenure as head of the Spanish central bank expires.
TSE unveils plans for new platform
The Tokyo Stock Exchange (TSE) has unveiled plans to develop a next-generation computer system in the next two or three years. The move comes less than a month after the exchange’s trading system rejected trade cancellation requests by a Mizuho…
Nikko hit by latest Japanese trading error
A new trading error on the Tokyo Stock Exchange looks set to cost broker Nikko Citigroup an estimated JPY1 billion ($8.6 million). The development follows a more serious trading error at Mizuho on December 8.
PBOC gives OTC foreign exchange trading go-ahead
The People's Bank of China (PBOC) has opened up the country's spot FX market to over-the-counter trades, and authorised the China Foreign Exchange Trading System (CFETS) to determine the daily central parity rate for the RMB against foreign currencies.
Isda launches Chinese collateral glossary
The International Swaps and Derivatives Association today launched a Mandarin/ English glossary of collateral terms, as it seeks to encourage the use of collateral in credit risk mitigation for the Chinese-speaking world.