News
DTCC set to launch automated payment reconciliation service
The Depository Trust and Clearing Corporation (DTCC) will this month introduce an automated payment reconciliation service. The move is one of a number of initiatives the US company has planned for the coming months aimed at reducing risk and improving…
State Street’s Snyder named head of forex trade body
Mark Snyder, US bank State Street’s global head of currency and money market sales and trading, has been appointed chairman of the Foreign Exchange Committee, a trade body.
SunGard buys WhiteLight Basel II system
SunGard Trading and Risk Systems, a division of US software company SunGard, has bought California-based WhiteLight's system for Basel II compliance from SymphonyRPM. It will rebrand the product the SunGard Basel II Capital Manager.
WestLB goes live with SunGard's Credient
German bank WestLB has gone live with Credient, SunGard Trading & Risk Systems' credit risk software package.
UBS takes 20% of active third-party CLS business with Saxo deal
UBS believes it has gained a 20% share of the third-party business conducted via the continuous-linked settlement (CLS) system. UBS said Denmark's Saxo Bank went live on the service today.
Charles-Henri Filippi set to head CCF
Charles-Henri Filippi is set to become the new chairman and chief executive of CCF, the French arm of UK-based bank HSBC, following the retirement of current boss Charles de Croisset at the end of February.
US regulators warn financial institutions on supporting affiliated investment funds
The US Federal and Thrift Supervisory agencies have issued a policy statement warning financial institutions to be cautious of material risks inherent in supporting affiliated investment funds.
Basel I must be made more risk-sensitive for general banks, say Independent Community Bankers
The 1988 Basel Accord, also known as Basel I, must be improved to be more risk-sensitive for the benefit of community banks, said the Independent Community Bankers Association (ICBA), the Washington, DC-based membership organisation of 5,000 community…
GFI delays new Asian services
New York-based inter-dealer broker and market data supplier, GFI, has delayed its plans to offer new local currency volatility services in the Asia-Pacific region, Risk’s sister publication Inside Market Data has learned.
WestLB goes live with SunGard's Credient
German bank WestLB has gone live with Credient, SunGard Trading & Risk Systems’ credit risk software package.
El Paso to cut debt by a third, while gas trader pleads guilty
US natural gas company El Paso – which has recently survived a bid toreplace its board and seen one of its tradersindicted – has unveiled aplan to significantly reduce its debt. By Joe Marsh
SGX plans to trade Trac-x linked futures
The Singapore Exchange (SGX) has signed a 'memorandum of understanding' with Dow Jones, signalling its intention to list Trac-x credit derivatives futures. SGX said the move was part of a plan to create a global market-place for credit derivatives…
Sponsor's article > Banks look for savings with ORM
Operational risk management (ORM) is now under the spotlight with banks realising that there are savings to be made, according to a recent survey by SunGard Trading and Risk Systems. SunGard also found that Basel II is a significant driver for ORM…
Sponsor's article > SunGard Enhances Basel II Offering with Acquisition of WhiteLight
SunGard Trading and Risk Systems, an operating group of SunGard (NYSE: SDS), and SymphonyRPM today announced that SunGard has acquired the WhiteLight Basel II solution and as a result, WhiteLight's SymphonyRPM development team.
CBOT lowers fees for European traders
The Chicago Board of Trade (CBOT), in an early effort to head off competition from Eurex, is to offer cheaper electronic access for European traders, the exchange announced.
BarCap adds sterling swaps to online interest rate swaps platform
Barclays Capital (BarCap) has added sterling swaps to its online interest rate swaps platform, Barx.
BOCI launches CLNs for retail investors in Hong Kong
Bank of China International (BOCI) has launched its first credit-linked investment product for Hong Kong’s retail investors.
US sets trend for high bonuses
Global commercial banks are expected to award bumper bonuses in the next three months, following a pattern set by the US investment banks in December, reports Risknews ' sister publication FX Week .
Fimat launches volatility fund index
Fimat Group, the brokerage arm of SG, has launched the Fimat Volatility Arbitrage Median (FVAM) to represent the performance of various funds following volatility arbitrage strategies, reports Risknews ' sister publication FX Week .
Taiwan launches government bond futures market
Taiwan has launched its government bond futures (GBF) market with the listing of 10-year government bond futures on the Taiwan Futures Exchange (Taifex) and the opening of the Bond Lending Centre of GreTai Securities Market, a non-profit organisation.