News
Op risk assessment hampered by lack of reliable data
Inadequacy of loss expectation data is a major cause of modelling risk for operational risk strategies, said Carol Alexander, professor of the ISMA Centre at the University of Reading in the UK, at Risk’s annual European conference.
Annual corporate forex volumes reach $40 trillion
The amount of foreign exchange traded by international top-tier corporates reached $40 trillion last year, according to a report by Connecticut-based Greenwich Associates. Growth was reported by the industry in every region except non-Japan Asia and…
Energia selects SunGard's Entegrate ZaiNet
Energia, part of the Viridian Group, has selected SunGard's Entegrate ZaiNet to process and risk manage its physical and financial power and gas contracts.
SEC approves alternative method of capital measurements for broker-dealers
The Securities and Exchange Commission (SEC) has approved a rule that allows certain broker dealers to use internal models to determine their capital requirements. The Commission believes the rule would improve its oversight of broker-dealers.
Trac-x, iBoxx merge North America and emerging market indexes
Credit default swaps (CDS) indexes Dow Jones Trac-x and iBoxx are set to merge their North America and emerging markets indexes, the parties involved said late yesterday. The new indexes are to be called Dow Jones CDX Indices.
Energia selects SunGard’s Entegrate ZaiNet
Energia, part of the Viridian Group, has selected SunGard’s Entegrate ZaiNet for the straight-through processing and risk management of its physical and financial power and gas contracts.
StanChart poaches Deutsche FX options head in Asia
Standard Chartered has hired Will Shropshire in a dual capacity as head of foreign exchange options trading, Asia and global head of forex investor products in Singapore.
BNP Paribas alters equities business structure
BNP Paribas is to simplify the structure of its equity business following its partnership with French broker Exane.
Regulatory changes good news for investors
Forthcoming changes in the accounting practices of banks, imposed by regulators through Basel II and International Financial Reporting Standards (IFRS), will "make balance sheets speak up", according to Jean-Bernard Caen, group capital manager at Belgian…
EU Commission releases study
The long-delayed European Commission study has at last been published today. Conducted by PricewaterhouseCoopers, the study examines the economic impact of the new Basel and EU capital adequacy proposals on the EU financial services sector.
MIT’s Stephen Ross backs expensing proposals
Stephen Ross says the US Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) have done a good job vis-a-vis proposals for the mandatory expensing of employee stock options.
Regulatory changes good news for investors
Forthcoming changes in the accounting practices of banks, imposed by regulators through Basel II and International Financial Reporting Standards (IFRS), will “make balance sheets speak up", according to Jean-Bernard Caen, group capital manager at Belgian…
DrKW hires six in hedge fund sales
Dresdner Kleinwort Wasserstein (DrKW), the investment banking arm of Dresdner Bank, has made six additions to its hedge fund sales team in recent weeks. All six take the title of director and will be based in London.
Lehman hires credit derivatives structurer in Tokyo
Lehman Brothers has hired Jimmy Kan as a senior vice-president to run its derivatives structuring group in Tokyo.
Primus Guaranty seeks IPO
Bermuda-based credit default swaps marketer Primus Guaranty has registered a statement with the Securities and Exchange Commission for a proposed initial public offering of its common shares.
Risk managers warned of ‘liquidity black holes’
‘Liquidity black holes’ are being caused by the development of increasingly sophisticated risk analysis software, according to Avinash Persaud, investment director at Dublin-based Global Asset Management.
Kemp takes foreign exchange helm at Merrill
Morgan Stanley foreign exchange chief Stephen Kemp is set to take on the continued build-up of Merrill Lynch’s forex business, following the resignation of co-head of global foreign exchange and rates Michael DeSa, reports RiskNews' sister publication FX…
Banks draw up EU25 battle plans for FX
Far-sighted banks and brokers are drawing up their foreign exchange battle plans for the Europe that will be enlarged by the ten new member states joining this weekend, reports RiskNews' sister publication FX Week .
Lyxor launches government bond tracker
Lyxor Asset Management, a Paris-based subsidiary of French bank Société Générale, has released a euro-denominated index tracking the performance of the eurozone government bond market.
Isda called on to improve OTC commodities market
Elaine Whiting, head of global over-the-counter commodities transaction documentation and management at Barclays Capital, yesterday called for assistance from financial institutions to create operations 'metrics' for OTC commodities markets.
DrKW hires head of cash CDOs
Dresdner Kleinwort Wasserstein (DrKW), the investment banking arm of Dresdner Bank, has appointed Robert Walsh from Credit Suisse First Boston (CSFB) as director and head of cash collateralised debt obligations (CDOs).
Amrolia returns to Deutsche Bank
Zar Amrolia has returned to Deutsche Bank as global head of bank sales for foreign exchange and commodities.
Creditex adds Mark-it’s ‘Red’
Credit derivatives broker Creditex is to incorporate pricing data provider Mark-it Partner’s reference entity database (Red) into its trading and information platform.
Natexis first CLS third-party bank in France
Natexis Banques Populaires has become the first continuous-linked settlement (CLS) third-party participant in France.