News
RBS names head of Japanese credit trading
Royal Bank of Scotland (RBS) has appointed Theodore Lo as head of credit trading in Japan.
Virtual heists expose gaps in bank security
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Reliance establishes new trading arms
India’s oil & gas company Reliance Industries, part of Reliance Group, is to set up two new trading subsidiaries in London and Singapore.
Interdealer brokers’ merger talks break down again
Stock prices of interdealer brokers Tullett Prebon and GFI Group plummeted on Tuesday, as a failure “to reach acceptable economic terms” halted ongoing merger talks.
Fannie and Freddie CDS to settle at October auction
The auction process to settle credit default swap (CDS) contracts written against Freddie Mac and Fannie Mae will take place in the first week of October, Risk has learned, although losses on the agreements are likely to be minor for most counterparties.
Ratings down and defaults up at Moody's
New York-based ratings agency Moody’s Investors Service reports downgrades in derivatives outlooks and increases in defaults.
Calyon cuts back derivatives operations
Calyon will cut 500 jobs and pull out of the structured credit and derivatives markets as part of a plan to survive the market downturn.
LSE investigates Monday’s crash
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FSA op risk standing group releases use test paper
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Washington Mutual under regulatory scrutiny
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India’s NCDEX launches futures contract in thermal coal
India’s National Commodity and Derivatives Exchange Limited (NCDEX) today launched a thermal coal futures contract.
Axa names fixed-income CIO
Chris Iggo, formerly a senior strategist on the investment strategy team, has been appointed Axa Investment Managers’ chief investment officer of fixed income, a newly created position.
RBS creates FI sales head post for Asia ex-Japan
Royal Bank of Scotland (RBS) has hired Manish Mahajan in a newly created role as head of sales for financial institutions (FI) for Asia excluding Japan. He joins from Deutsche Bank in Singapore, where he was head of rates sales and strategic solutions…
Old Mutual’s CEO resigns after facing writedowns
Jim Sutcliffe, chief executive of London-based financial services company Old Mutual, has resigned from the firm after it reported it would face heavy writedowns in its US life insurance division, US Life.
RBS names head of forex trading, Americas
Royal Bank of Scotland (RBS) has appointed Christiane Mandell as head of foreign exchange (forex) and local markets trading for the Americas, based in Greenwich, Connecticut.
Fitch nears end of global CDO review
Almost a year on from its global collateralised debt obligation (CDO) ratings embargo, Fitch Ratings is months away from determining the final status of ratings on hundreds of corporate CDOs.
CantorCO2e to hold first binding CER auction
Carbon broker CantorCO2e will hold the first binding Certified Emissions Reduction (CER) auction on 2 October.
CPDOs under review as Moody’s announces further error
New York-based ratings agency Moody’s Investor Services announced on September 4 it might downgrade several constant proportion debt obligations (CPDOs) after discovering another error in its securities monitoring.
LSE’s screens freeze
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US nationalises Fannie and Freddie
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Washington Mutual drops CEO
Seattle-based Washington Mutual has announced the departure of long-serving chief executive Kerry Killinger.
Fuhr to cover exchange-traded funds at BGI
Deborah Fuhr, who previously headed exchange-traded funds (ETF) research at Morgan Stanley, has joined asset manager and ETF provider Barclays Global Investors (BGI) in a similar role.
Lehman appoints new fixed-income chiefs
Lehman Brothers has appointed Eric Felder and Hyung Soon Lee as global co-heads of fixed income.
London Stock Exchange suspends trading
The London Stock Exchange suspended trading this morning at 0915 GMT, eight minutes after commencing.