News
Swiss Re signs up Longitude in weather push
Swiss Re signed up with New York-based risk management software firm Longitude today, to help its development of new weather risk management products.
Ramseyer-Torres named DrKW deputy head of equities
Roselly Ramseyer-Torres, who has been steadily building up Dresdner Kleinwort Wasserstein’s (DrKW) equity derivatives capability, has climbed another rung in the German investment bank’s corporate ladder by being named deputy head of global equities.
Swiss Re’s Wilson joins Oliver, Wyman
Oliver, Wyman & Company, the New York-based consultancy, plans to boost its risk management practice by hiring Tom Wilson, former Swiss Re New Markets chief financial officer and chief risk officer.
AEP snaps up Enron's Nordic power team
Ohio-based utility American Electric Power (AEP) is set to enter the Nordic power market after its London-based European trading arm, AEP Energy Services, assumed operation of Enron's offices in Oslo and Stockholm.
Smartstream launches ETC application
Smartstream Technologies, the London-based provider of reconciliation and trade confirmation management solutions, plans to let fund managers create electronic notification of trade execution through its latest electronic trade confirmation (ETC) module,…
Innovative CDOs set to lead the way in 2002
Innovatively structured collateralised debt obligations (CDOs) will spur the growth of structured finance products in 2002, according to a report by rating agency Standard & Poor’s (S&P).
EEX to offer clearing for OTC forwards
Germany’s European Energy Exchange (EEX) plans to become the first power exchange in continental Europe to offer central counterparty clearing services for over-the-counter (OTC) electricity forward transactions.
Innogy subsidiary to use kW3000 risk management tool
Npower Northern Limited, a subsidiary of energy supplier Innogy, has chosen to use London-based KWI's kW3000 trading and risk management product.
Temenos signs new contracts with Mellon, TIB and Techcom
Swiss-based financial services vendor, Temenos, has signed US-based Mellon Financial Corporation, Russia's Trust and Investment Bank (TIB) and Vietnam-based Techcom Bank to roll out its integrated banking software suite, Globus.
2001 a record year for Liffe and Eurex
Europe’s two largest derivatives exchanges this week reported record trading volumes for 2001. Eurex, the Swiss-German exchange, traded a total of 674 million contracts in 2001, a 48% increase on 2000’s 455 million contracts. The London International…
Hungarian netting legislation welcomed by Isda
The International Swaps and Derivatives Association (Isda) today said it welcomed the implementation of Act CXX of 2001 on the Capital Markets (CMA), which provides legal certainty to the enforceability of close-out netting in Hungary. The CMA, passed by…
More derivatives deals use collateral, says Isda survey
Derivatives dealers are increasingly relying on collateral to mitigate credit risk, according to the International Swaps and Derivatives Association (Isda). The amount of collateral in circulation in the derivatives markets now exceeds $250 billion, an…
An uncertain future
Questions over regulatory requirements in the US were making energy firms cautious about their expansion plans, even before Enron’s collapse complicated the picture. By Kevin Foster
European credit quality falls steeply in 2001, says Moody's
Credit rating downgrades outnumbered upgrades by more than two-to-one for corporations and governments outside the US during 2001, according to international rating agency Moody's – a complete reversal on 2000, when upgrades exceeded downgrades by a more…
Israeli exchange upgrades contingency plans
The Tel Aviv Stock Exchange (Tase) has upgraded its contingency facilities for trading and clearing to ensure that in the event of an emergency, such as a terrorist attack on the main exchange, systems should continue to function as normal.