News
BoA does deal with Justice Department over municipal bonds
Bank of America, the second largest US bank, has signed a 'leniency agreement' with the US Department of Justice, in return for the bank’s co-operation with the department’s investigation into municipal derivatives.
Eurex to open hub in Dubai
Eurex, the world’s largest derivatives exchange, will open a trading hub in Dubai in April, subject to approval from the Dubai Financial Services Authority.
F&C poaches hedge fund specialists from London & Capital
London-based asset manager F&C has hired a team of four hedge fund specialists to launch a fixed income hedge fund within its alternative investments division.
Susan Schmidt Bies resigns
Susan Schmidt Bies has resigned as a member of the Board of Governors of the Federal Reserve System
BarCap structuring second collateralised forex deal
Barclays Capital is planning another bespoke collateralised foreign exchange obligation (CFXO), worth €20–€50 million, after closing its first at the end of 2006.
BarCap names EM equity head
Barclays Capital has named Nicholas Moreira as head of emerging markets equity derivatives trading.
Barclays Wealth hires new head of FX
Barclays Wealth, the wealth management arm of Barclays, has appointed Mireia Sitjas-Montaner in the new position of head of foreign exchange for the investment and product office.
Merrill Lynch launches volatility arbitrage index
Merrill Lynch has launched an equity volatility arbitrage index which seeks to cheaply replicate a popular hedge fund strategy.
Eurex unveils Russian equity derivatives
The European exchange Eurex is preparing to launch index and single-stock derivatives based on Russian underlyings.
Isda welcomes outcome of SG appeal
The International Swaps and Derivatives Association has publicly welcomed a decision by the US Second Circuit Court of Appeals, overturning a ruling that forced Société Générale to pay out on a contentious credit default swap (CDS) contract.
Beijing to host first carbon credits exchange in developing world
China and the United Nations (UN) are planning to launch the first carbon-trading exchange in the developing world in Beijing.
SG marketing CPDO
Société Générale Corporate and Investment Banking (SG CIB) is marketing its first constant proportion debt obligation (CPDO). The deal, called Stelaris, will feature a short bucket.
SunGard hires COO for Kiodex
US financial software vendor SunGard has appointed Ben Jackson as chief operating officer for Kiodex, its web-based risk management tool for commodities traders.
Citigroup reshuffles fixed-income group
Citigroup has reshuffled senior management in its fixed-income group, moving many outside the US in a recognition that future growth will depend on foreign markets.