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European equity derivatives outstrip cash for first time
Banks in the European corporate and institutional markets are making more money out of equity derivatives than cash products for the first time, according to Morgan Stanley and consultants Oliver, Wyman.
DataSynapse gathers momentum
DataSynapse – winner of Risk magazine’s 2002 software product of the year award for its LiveCluster product – has unveiled five new hires.
GFI offers repo traders a new derivatives tool
New York-based interdealer broker GFI has added forward allocation general collateral (FAGC) repurchase agreements and corporate bond repos to its GFInet European trading screen.
NSSB hires fixed-income derivatives structurer
Nikko Salomon Smith Barney (NSSB) has hired Tatsuya Takeda as a director in its fixed-income derivatives team, according to an official at the bank in Tokyo.
PRMIA to offer rival exam to Garp
The Professional Risk Managers’ International Association (PRMIA) will launch its own certified risk manager programme in competition with the financial risk manager (FRM) exam offered by the Global Association of Risk Professionals (Garp).
Crude futures hit six-month highs
Crude oil futures on the New York Mercantile Exchange (Nymex) hit six month highs of $25.61 a barrel (bbl) on March 21 as a combination of rising demand, continued supply curbs and fears of US action against Iraq drove prices higher.
Patsystems' Jones survives no-confidence vote
The results of patsystems' extraordinary general meeting (EGM) held yesterday could not have produced better results from the perspective of the London-based independent software vendor’s current management team.
FSF chair backs SPVs but calls for better disclosure
The Financial Stability Forum (FSF), a body of national supervisors set up in 1999, has emphasised the need for greater disclosure and corporate governance in the wake of a number of high-profile bankruptcies, at its first meeting following the collapse…
US insurer hires credit derivatives specialist
American Capital Access (ACA), a US financial insurance specialist, has hired Joseph Pimbley as its credit derivatives portfolio manager.
Man Group’s performance remains solid
Man Group - the UK asset manager and derivatives brokerage – has released its pre-close trading results, with funds under management currently standing at $10.5 billion – a 57% increase on the previous year.
Swiss Re Financial Services names Godfrey as chief risk officer
Swiss Re Financial Services Business Group, a unit of reinsurer Swiss Re, has hired David Godfrey as chief risk officer.
Prebon launches online FRA matching system
Brokerage house Prebon Yamane Asia-Pacific has launched an online matching system for floating rate reset risk positions in swap portfolios for Australian dollar (A$) and Hong Kong dollar (HK$) currencies.
Derivatives expert Calello made new head of CSFB Asia-Pacific
Credit Suisse First Boston (CSFB) has named Paul Calello chairman and chief executive of the Asia-Pacific region including Japan, Australia and New Zealand. He will relocate to Hong Kong from New York, where he was head of the firm's global equity…
Derivatives unit unaffected by ABN Amro cuts
ABN Amro's decision effectively to pull out of the US cash equities and M&A business will leave its derivatives business intact.
Credit derivatives majors form data alliance
Goldman Sachs, Deutsche Bank and JP Morgan Chase have launched a credit derivatives market data scrubbing and sharing project meant to head off disputes among market participants over the terms of their contracts.