News
Trading begins on Prague Energy Exchange
The Prague Energy Exchange (PXE), a platform for trading electricity in the Czech Republic, launched successfully at 9am CET this morning, with ten participants trading physically delivered futures contracts dated monthly for the remainder of 2007.
BNP Paribas takes Credit Suisse equity derivatives team
BNP Paribas has poached a three-strong equity derivatives sales team from Credit Suisse in Frankfurt.
SG adds to its European CDO team
Société Générale has recruited Peter Melichar as vice-president in charge of collateralised debt obligation origination and structuring, based in London.
Fitch: credit derivatives growth continues
Trading in credit derivatives increased 113% in 2006 to $49.9 trillion worldwide, according to a report released by Fitch Ratings, which warned that the market was still vulnerable to a sudden downturn.
Dresdner puts focus on public sector
Dresdner Kleinwort has named a new head of global public-sector activities, as part of a push into financing, derivatives and capital market work in the sector.
Qatar plans for single supervisor
Daily news headlines
New European single-name LCDS expected soon
The International Swaps and Derivatives Association expects to publish a new single-name European loan credit default swap (LCDS) contract by the end of July.
Sebton leaves Isda for JP Morgan
Emmanuelle Sebton, the International Swaps and Derivatives Association’s head of risk management, has left to join JP Morgan.
BGC names Sutton as head of US rate swaps
US interdealer broker BGC has promoted Rob Sutton, formerly head of trading at the broker's Sydney office, to global head of US dollar interest rate swaps, a newly created role.
WTI, Brent climb after IEA report
A report from the International Energy Agency (IEA) has called for the Organisation of Petroleum Exporting Countries (OPEC) to increase production in order to relieve market tightness going forward.
FSA names new chief executive
The UK Financial Services Authority has named Hector Sants as its chief executive, replacing John Tiner, who left the regulator last week.
Lehman adds to EM team
Lehman Brothers has added three new managing directors to its emerging-market teams in London.
Trade bodies draft structured product guidelines
Five major trade bodies have teamed up to offer a 10-step guide on the types of principles structured product providers and distributors should consider when offering these instruments to retail investors, including high net worth individuals.
BBVA poaches Isla from BarCap
BBVA has hired Lorenzo Isla from Barclays Capital as head of credit derivatives structuring. Isla will be based in Madrid. He joined from Barclays Capital in London, where he was head of structured credit strategy.
Scott Prince joins SkyBridge Capital
Scott Prince, Goldman Sachs’ former head of equity derivatives, has moved to New York-based firm SkyBridge Capital.
Fitch adds to European structured finance emerging markets
Fitch Ratings has appointed Jaime Sanz as a senior director to lead its London-based European structured finance emerging markets team.
JP Morgan designs emerging-market forex carry index
JP Morgan has created an index that seeks to exploit the carry trade in emerging-market currencies.
Twenty years of history recognised at Risk Awards
The Risk 20 Awards, presented in London last night, rewarded the pioneers of the derivatives industry, as well as the companies that dominate the industry today.