News
SuperDerivatives launches equity option pricing service
New York-based option pricing software company SuperDerivatives has expanded its valuations service into the equity asset class. This supplements its existing option pricing service in foreign exchange and its recent foray into interest rate products on…
MBIA moves to boost Asian structuring business
Monoline insurer MBIA has recruited Hee Suk Noh from Bank of America’s global asset-backed securitisation team to boost its marketing effort in Tokyo.
BarCap snares Seeger from ABN Amro
Barclays Capital has hired Kai Seeger from ABN Amro as a director in its credit derivatives trading team in London.
Credit derivative market grew 48% during first half of 2005, says Isda
The notional amount of credit derivatives outstanding hit $12.43 trillion at the end of June, according to the International Swaps and Derivatives Association.
European Parliament gives green light to Basel II
The European Parliament has voted to adopt the new rules governing the Capital Requirements Directive, which will implement the Basel II framework in the EU.
EEX to launch carbon derivatives contract
The European Energy Exchange (EEX) plans to launch a futures contract for carbon emissions allowances in October, pending regulatory approval.
FASB likely to announce fair-value pensions project in October
The US Financial Accounting Standards Board (FASB) will consider a proposal from its staff for the overhaul of pension accounting in October. Some analysts predict that it will subsequently add to its agenda a project to require mark-to-market accounting…
BNP Paribas makes two senior hires to its equity derivatives team
BNP Paribas has bolstered its equities and derivatives trading business with two new hires. Eric Le Brusq will join as deputy head of equities and derivatives worldwide, and Todd Steinberg becomes deputy head of equities and derivatives for the Americas.
Del Missier and Kvalheim named co-presidents of BarCap
Jerry del Missier and Grant Kvalheim have been named co-presidents of Barclays Capital amid wider organisational changes at the UK bank. Both will report to Robert Diamond, president of Barclays.
EEX to launch carbon derivatives contract
The European Energy Exchange (EEX) plans to launch a futures contract for carbon emissions allowances in October, pending regulatory approval.
GFI and Traiana offer processing boost for forex options trading
Foreign exchange options trading may get a boost with broker GFI and technology vendor Traiana both launching automated processing services in the market.
BarCap teams with HFR to offer hedge fund options
Barclays Capital and HFR Group are offering transparent pricing for hedge fund-linked tradable options. Based on the HFRX Global Hedge Fund Index, BarCap will offer a two-way market in European call options to its institutional clients and counterparties…
UK's 50-year linker breaks new ground
The United Kingdom yesterday priced the first issuance of a 50-year inflation-linked bond. The 1 1/4% gilt of 2055 is the longest-dated sovereign index-linked bond in the world.
Nymex plans to sell 10% stake to private equity firm
The New York Mercantile Exchange (Nymex) has signalled its intention to sell a 10% equity stake to General Atlantic, a US-based private equity firm, for $135 million.
OneChicago seeks BookDepth traction
Chicago-based equity stock futures exchange OneChicago is preparing a marketing push to boost usage of the depth-of-book data it now distributes over CFN (CBOE Financial Network) from its co-parent Chicago Board Options Exchange.
Lehman hires new FX forwards trading head
Lehman Brothers has hired Jason Margiotta from rival Merrill Lynch to run its forex forwards trading desk in New York.
Amerex's Prokop joins Energy Data Hub board
The Energy Data Hub has appointed Mike Prokop, senior vice president at energy brokerage Amerex, to its board of directors.
Citi continues risk advisory and structured products build-up
Citigroup has made two hires as it builds its foreign exchange risk advisory and structured products teams in London. Both teams sit within the bank's value-added services and products group (Vasp), which it established a year ago.
Basel II to reduce capital on rated securitisation positions
The minimum capital requirements under the new Basel framework, also known as Basel II, will lower the amount of capital that implementing banks will be charged for rated securitisation positions, according to new research by FitchRatings, the rating…
ING Vysya strengthens wholesale operations
Bangalore-based ING Vysya bank has hired Janak Desai as country head of financial markets for India. He will join the bank on November 1 and report to ING Vysya chief executive Bart Hellemans.
ABN Amro beefs up Asian distribution
ABN Amro plans to build up its Asian marketing effort by adding two staff to its derivatives sales and solutions group (DSSG) in Hong Kong.
Structured products in the spotlight
Concerns over the mis-selling of structured products to investors in the US have prompted the National Association of Securities Dealers (NASD) to issue guidelines to ensure members fall within the scope of sales practice codes.
Risk ALM USA 2005: Panel discusses differing approaches to ALM
Leonard Matz, a managing director at Kamakura Corporation – a Hawaii-based risk technology vendor – has cautioned against misuse of VAR. “I believe it’s a huge mistake to apply VAR to look at the funding [side] of the balance sheet,” said Matz who was…
Most US lenders would survive bursting of a real estate bubble
Research by Standard & Poor’s suggests that most US mortgage firms would be able to withstand the bursting of a US housing bubble, despite the greater credit risk associated with current mortgage portfolios.