News
Wall Street Systems launches new structured products software
New York-based software vendor Wall Street Systems has launched two new systems, one focusing on credit derivatives while the other handles structured products.
Basel II proposal out in June; AMA/IRB approaches to be delayed
Yesterday, the Basel Committee on Banking Supervision confirmed that it will release the New Basel Accord, also known as Basel II, at the end of June 2004. But the Committee said the implementation of the advanced measurement approach (AMA) for…
Advanced IRB Basel II approach delayed
The Basel Committee on Banking Supervision said the implementation of the advanced internal ratings-based approach (IRB) for credit risk and the advanced measurement approach (AMA) for operational risk would be delayed until the end of 2007. This will…
Banca Intesa consolidates credit derivatives systems
Banca Intesa has selected London-based Tamesis’ trading and risk management system for its credit derivatives operations.
Van Hedge Fund Advisors hires quant to head risk management
Zhiyi Song has joined Nashville-based hedge fund information provider Van Hedge Fund Advisors International as vice-president to head the company’s risk management department.
Hong Kong focuses on Basel Sound Practices on OpRisk Management
Hong Kong will focus on implementing the Basel Sound Practices for Operational Risk Management rather than the Advanced Measurement Approaches (AMA), according to Simon Topping, executive director for Banking Policy at the Hong Kong Monetary Authority.
Moody’s KMV boosts analytics
Moody’s KMV, the San Francisco-based quantitative credit analytics firm and subsidiary of rating agency Moody's, has launched a new web-based tool to value credit spreads and analyse the drivers behind credit spread movements. It has also revamped its…
Tullett plans new data launch
Tullett Financial, the data sales arm of broking group Collins Stewart Tullett (CST), is readying the launch of a new currency data product for June.
NAB's dissident director resigns
Catherine Walter, the National Australia Bank (NAB) director who criticised a report into the bank’s forex options trading scandal, resigned last week.
Latest data may set the tone for a firmer dollar
Stronger-than-expected economic data from the United States last Friday may set the tone for a firmer US dollar this week, and might put an end to the nervousness that has kept some clients out of the market in past few days.
Straits Lion joins ranks of CDO managers
Straits Lion Asset Management has joined the growing ranks of Singaporean asset managers active in the synthetic collateralised debt obligation (CDO) market, following the launch of an Asian credit-dominated investment grade CDO arranged by Goldman Sachs.
Enron veteran quits rates IT role at UBS
Jay Webb, a managing director for fixed-income rates and currencies derivatives IT at UBS, has resigned, bank officials have confirmed.
Soros risk chief joins rival fund
Peruvemba Satish, head of risk management at Soros Fund Management, has left the firm to join rival fund DKR Capital in Stamford, Connecticut, where he becomes chief risk officer.
Fed proposes tighter regulation on trust-preferred securities
The US Federal Reserve has proposed a rule to retain trust-preferred securities (TPS) in the tier-one capital of bank holding companies (BHC), but with stricter quantitative limits and clearer qualitative standards.
Deutsche Bank hires Sternberg to head quant trading
Deutsche Bank’s global equity derivatives group has hired Zemach Sternberg as head of global quantitative trading in New York.
ABN Amro poaches BNP Paribas energy heads
Dutch bank ABN Amro has hired Wayne Harburn, BNP Paribas' former head of European energy trading, as well as Vincent Chevance, the French bank's head of marketing for energy derivatives. BNP Paribas was not immediately able to say who would replace the…
ABN Amro poaches BNP Paribas energy heads
Dutch bank ABN Amro today said it has hired Wayne Harburn, BNP Paribas’ former head of European energy trading, as well as Vincent Chevance, the French bank’s head of marketing for energy derivatives. BNP Paribas was not immediately able to say who would…
Caxton quant to join Citi hedge fund
Tanya Beder, head of quant trading at hedge fund Caxton in New York, is to leave the company to join Tribeca Investments, another hedge fund and part of Citigroup Alternative Investments, as chief executive officer.
Clearing Corporation seeks regulatory approval for global clearing
The Clearing Corporation (CC) has requested regulatory approval from the Commodity Futures Trading Commission (CFTC) to implement the first phase of a 'global clearing link' joint project with Eurex Clearing.
Academic quits NYU for Hedge Fund
Marco Avellaneda, professor of mathematics at New York University’s (NYU) Courant Institute for Mathematical Sciences, is quitting academia to set up a new hedge fund desk in Paris.
Mark-It acquires Totem
Mark-It Partners, the UK-based credit pricing information company, has agreed to purchase its London-based rival Totem Market Valuations, a provider of over-the-counter derivatives market price information.
EU adopts linking directive...
The European parliament has given the thumbs-up to the so-called linking directiveallowing companies within member states to benefit from emissions projects outsideof the EU. By James Ockenden and Paul Lyon
ESB wins Esso price battle
Esso and Ireland’s Electricity Supply Board entered into a seemingly straightforward15-year contract for the sale and purchase of natural gas in 1999. But the contracthas raised the issue of how to define ‘market price’. By James Ockenden