News
Chinese banks automate to trade derivatives
Guangdong Development Bank (GDB), First Sino Bank (FSB) and the Bank of Shanghai (BOS) are installing systems by Reuters to comply with derivatives regulations introduced by the China Banking Regulatory Commission (CBRC) in March, said officials.
Foreign exchange volumes up by a third
Foreign exchange trading volumes are up by nearly a third over the past three years, according to new research from UK consultancy ClientKnowledge.
First Irish covered mortgage bonds set to debut
Bank of Ireland's mortgage banking unit is readying the country’s first issuance of covered bonds backed by a pool of residential mortgages. The €2 billion issue, which will be triple-A rated, is set to be priced within the next month. Barclays Capital,…
Anti-competitive probe focuses on Amex and CBOE
The American Stock Exchange (Amex) and Chicago Board Options Exchange (CBOE) are being investigated for possible anti-competitive practices, according to the National Association of Securities Dealers (NASD).
Banco Santander seals its first managed synthetic CDO
Spain-based Banco Santander Central Hispano has completed its first managed synthetic credit default swap portolio transaction in the European market.
Westpac buys new risk management software
Australian bank Westpac has licensed SunGard's Credient, part of its Adaptiv credit risk infrastructure.
FHL Bank Topeka selects Providus' RiskResolve for op risk management
The Federal Home Loan (FHL) Bank Topeka, a Kansas-based privately owned, federally chartered corporation that finances mortgage credit in member financial institutions, has selected Providus' operational risk management solution, RiskResolve, to boost…
Banc of America Securities hires senior oil analyst
Banc of America Securities (BAS) yesterday hired Daniel Barcelo as a senior equity research analyst covering the global integrated oil sector. He joins the Bank of America subsidiary from rival bank Lehman Brothers and will be based in New York. He will…
IDC to buy FutureSource for $18 million
Interactive Data Corporation is buying privately held futures, options and commodities data provider FutureSource in an $18 million cash deal.
BNP Paribas expands interest rate group in New York
BNP Paribas has made seven appointments to its interest rate group in New York, headed by Zbigneiw Ryzak.
Data crisis coming, says S&P
Financial institutions must start sorting through their large amounts of credit risk data to recognise the right information they need for the purposes of Basel II credit risk measurements, according to Ken Hoffman, the director of Digital Feed Products,…
IPE relaunches UK power futures, while LCH clears first OTC UK power trade
The International Petroleum Exchange (IPE), the London-based energy futures and options exchange, will relaunch UK baseload and peakload electricity futures contracts on September 14. Meanwhile, London-based clearing house LCH Clearnet yesterday cleared…
IPE relaunches UK power futures
The International Petroleum Exchange (IPE), the London-based energy futures and options exchange, will relaunch UK baseload and peakload electricity futures contracts on September 14. Meanwhile, London-based clearing house LCH Clearnet yesterday cleared…
Westpac buys new risk management software
Australian bank Westpac has licensed SunGard’s Credient, part of its Adaptiv credit risk infrastructure.
Philadelphia Stock Exchange names new product development head
Philadelphia Stock Exchange (PHLX) has named Chicago Board of Trade (CBOT) veteran Daniel Carrigan as vice-president for new product development, reports RiskNews’ sister publication, Dealing With Technology .
DrKW recruits options trader
Dresdner Kleinwort Wasserstein (DrKW) has hired Christopher Sandford to trade Asian local market foreign exchange options in Singapore, reports RiskNews’ sister publication, FX Week .
CME to convert equity index options to European-style expiration
The Chicago Mercantile Exchange has said it will convert all its equity index options to European-style expiration by the end of the year as part of an aggressive growth strategy.
CSFB gets OK for derivatives in China
The China Banking Regulatory Commission (CBRC) authorised Credit Suisse First Boston (CSFB) to launch a financial derivatives business in China last week, reports RiskNews’ sister publication, FX Week .
Dollar/yen break-out expected
Technical indicators suggest the dollar/yen exchange rate could be set to break out of the tight trading range it has been trapped in since June, says RiskNews’ sister publication, FX Week .
Royal Bank of Scotland appoints e-commerce business developer
The Royal Bank of Scotland (RBS) has transferred Clive Standish to its New York office as vice-president and e-commerce business developer, within the North America financial markets team.
Isda pushing bar codes for confirmations
The International Swaps and Derivatives Association is working on a new bar code standard to streamline the processing of trade confirmations across a variety of asset classes, according to RiskNews’ sister publication, Dealing With Technology .
Prebon transfers credit derivatives business to subsidiary
Prebon Marshall Yamane has recently transferred its credit derivatives business into a new subsidiary, Prebon Global Credit.
Tractebel opts for PowerCosts
Tractebel Energy Marketing, a subsidiary of energy company Tractebel, has signed up to use risk trading technology provided by PowerCosts Inc (PCI).
S&P raises Aquila rating
Standard & Poor's Ratings Services (S&P) has raised its corporate credit rating on energy provider Aquila to 'B-' from 'CCC+' and removed the rating from CreditWatch, where it was placed with developing implications on July 21, 2004. The outlook is…