News
Bank of England hits out at quality of dealer stress-tests
The Bank of England gave the UK banking industry a stark warning today to improve stress-testing systems to avoid being dangerously exposed if there is a 'severe shock' to the financial system. The UK’s central bank made the comments in its twice-yearly…
Linklaters bolsters New York derivatives practice
Law firm Linklaters has hired Stan Renas as a partner in its structured finance and derivatives practice in New York. He will report to Adam Glass, who is a partner and head of the group.
Jump in private equity deals puts corporate balance sheets at risk
The UK’s Bank of England has today warned that a sharp jump in borrowing linked to private equity deals has left corporations at increasing risk of defaulting on loan commitments.
Jefferies & Co makes aother senior equity derivatives hire
New York-headquartered investment bank Jefferies & Company has hired Jason Glover as a senior equity derivatives trader in its new equity derivatives trading group. Glover was previously a portfolio manager in the emerging managers fund at US alternative…
Credit quality sees rapid deterioration in June
Hawaii-based risk technology vendor Kamakura Corporation today reported a steep increase in its monthly global index of troubled companies, signifying a decline in global credit quality.
Credit DPCs are growing rapidly, says Fitch
Credit derivatives product companies (CDPCs), such as Primus Guaranty, are emerging as important participants in the burgeoning credit derivatives market, according to a new criteria report by Fitch Ratings.
BarCap snares Bes from BNP Paribas to head private bank coverage
Barclays Capital has today appointed Pierre Bes as a managing director and head of private bank coverage, Europe.
BNP Paribas appoints new head of metals within commodity derivatives
BNP Paribas has promoted Russell Plackett to head its metals products business within its commodity derivatives unit.
Société Générale launches commodity-linked notes in Hong Kong
Société Générale has launched a three-year retail commodity-linked auto-callable note in Hong Kong. The principal-protected note will be linked to the price performance of an equally weighted basket of four commodities: West Texas Intermediate crude oil,…
Consolidation and convergence key to success of Bahrain’s implementation of sharia-compliant Basel II
The deputy governor of the Bahrain Monetary Authority (BMA) Anwar Khalifa Al Sadah, has detailed plans to implement a sharia-compliant Basel II accord in Bahrain by 2008, stressing the need for the consolidation of Islamic banks. “Islamic banking is…
Defrauded forex investors win compensation
Some 250 retail foreign exchange investors are set to receive $2.7 million in compensation, after a fraud committed by Gibraltar Monetary Corporation was uncovered by the Commodity Futures Trading Commission (CFTC) in the US.
Bloomberg provides STP for credit derivatives
Bloomberg has linked up with New York-based technology firm T-Zero to provide its users with an electronic affirmation process for credit default swaps (CDS). T-Zero’s straight-through processing (STP) will allow users to capture and communicate trade…
Cost of storage is secondary to the needs of end-users, says CESR
Although the cost of storage and filing of regulated information is an important consideration, the decision on which model of storage to implement should be based on the needs of the end-user and proper fulfilment if the transparency directive should…