News
Nymex in record IPO
The New York Mercantile Exchange (Nymex) has enjoyed a record-breaking stock market debut for its initial public offering.
Energen increases 2007 natural gas, liquids hedge
US-based Energen Corporation, owner of gas exploration and production company Energen Resources Corporation (ERC), has increased its natural gas and gas-to-liquids hedging position for 2007, the company announced.
Lloyds TSB appoints head of debt origination
Lloyds TSB Corporate Markets has appointed Farouk Ramzan to the new role of head of debt origination.
Second time unlucky for Nasdaq as London Stock Exchange rejects bid
The London Stock Exchange (LSE) has rejected an offer from New York-based stock exchange Nasdaq to buy the company for 1,243 pence a share in cash, on the grounds that the bid “substantially undervalues” the company.
Credit derivatives still leading OTC growth, says BIS
Credit derivatives continued to be the fastest-growing sector of the over-the-counter market this year, despite rising numbers of early terminations.
More staff changes at Bear Stearns
Bear Stearns has appointed Morad Mahlouji and David Austin as co-heads of fixed-income sales in Europe, based in London.
Two leaving Icap FX team
Two members of Icap's spot FX team are to leave. Garry Munday, head of spot FX in London, will be joining WestLB later this month, and Rene Simonsen, based in Copenhagen, will be joining Nordea in December.
Standard Chartered appoints head of client research
Standard Chartered has appointed Alex Barrett to the newly created role of head of client research across all global markets.
FSA’s Huertas hits out at CPDOs
Thomas Huertas, director of wholesale firms at the Financial Services Authority, has lashed out at the use of constant proportion debt obligations (CPDOs), a new breed of synthetic credit investments.
Risk USA: Panelists discuss best practices in the energy market
John D'Agostino, former founding partner and chief operating officer of MotherRock, a Houston-based hedge fund that closed in August, and currently chief executive of New York-based consultancy Dagger, emphasised the difficulties in determining the…
Risk USA: Hancock calls for a reappraisal of risk management
Peter Hancock, president of Integrated Finance, a New York-based hedge fund and consultancy, urged managers to rethink the way they view risk. The dialogue on risk drivers has been “hijacked” by those who either oversimplify the process or become bogged…
Pension funds should use mark-to-market accounting, says Rhode
Lars Rhode, chief executive of the $71.4 billion Danish state pension fund ATP, told delegates attending Risk USA’s derivatives and risk management conference in New York that pension funds must be seen as financial institutions and follow the same…
Deutsche Börse pulls out of Euronext bid
German stock exchange operator Deutsche Börse has abandoned its effort to acquire pan-European derivatives exchange Euronext, clearing the path for the New York Stock Exchange (NYSE).