News
DrKW offers real-time capability on ops/tracker service
Dresdner Kleinwort Wasserstein (DrKW), the investment banking arm of Dresdner Bank, has made new real-time functionality available on ops/tracker, its online settlements enquiry tool.
RBS appoints Burtonshaw as head of finance technology
The Royal Bank of Scotland's (RBS) financial markets division has made Peter Burtonshaw its new head of finance technology with immediate effect.
AFS Group to establish London office
Amsterdam-based interdealer broker AFS Group is establishing a London-based office that will initially focus on offering equity derivatives.
Complexity of weather deals set to grow
Trades in the growing weather risk market are likely to include a greater number of complex cross-commodity products as end-user sophistication increases, according to Valter Stoiani, manager for trading at Houston-based Enron Global Markets' weather…
Europe’s electricity markets hamstrung by mergers
Competition in the European power markets is being hampered by the spate of consolidation in the sector, according to research by Reinhard Haas and Hans Auer of the Vienna University of Technology, presented at Energy & Power Risk Management magazine’s…
LME goes live with complete screen trading service
The London Metal Exchange (LME) has launched Release 2 of LME Select, its screen trading system, which allows LME member firms to trade any contract electronically. The system was developed by Swedish firm OM Technology.
Bernstein admits change of heart at ARS conference
Peter Bernstein, author of “Against the Gods”, the best-selling book on the history of risk, now says he “got the point all wrong” in the book. Bernstein, giving the keynote address at Risk magazine’s Alternative Risk Strategies 2001 conference in New…
Isda says more work needed on accounting standard
The International Swaps and Derivatives Association (Isda) has filed comments on the draft standard “Financial Instruments and Similar Items”, proposed by the Joint Working Group of Standard Setters (JWG).
Daiwa invests in Ubitrade STP system for derivatives
Daiwa Securities has agreed a deal with French solutions provider Ubitrade to install a straight-through-processing (STP) system for derivatives in its London office.
FXall gains Hong Kong regulator approval
FXall, the bank consortium-owned online portal for global foreign exchange trading, will open a representative office in Hong Kong, following approval to operate as a money broker in the city from the Hong Kong Monetary Authority (HKMA). The office, to…
DeAM expands New York fund of funds team
Deutsche Asset Management (DeAM) is expanding its fund of funds business with the appointment of four new directors to its New York-based team. Steven Bossi, Mustafa Jama, John Gallagher and Lance Babbit take up newly created positions and will report to…
Kingsley named head of Andersen’s finance practice
Veteran risk management and markets practice consultant Stephen Kingsley has been made global head of financial services practice at professional services firm Andersen, following a four-year stint leading the firm’s Europe, Middle East and Africa (EMEA)…
Summe replaces Jelich as Isda general counsel
The International Swaps and Derivatives Association (Isda) has promoted Kimberly Summe to be its general counsel, effective from September 10, replacing Emily Jelich. Isda said Jelich, who only took up the role three months ago, was leaving for “personal…
Hohl moves to BIS to promote Basel in Asia
Stefan Hohl, the Bundesbank’s head of internal risk management, has moved to the Bank for International Settlements (BIS) to promote the new Basel Capital Accord in Asia.
Icor teams with Reuters to deliver FX options
Icor Brokerage has formed a 50:50 venture with international dealing systems provider Reuters to deliver its FX options broking service, and in one swoop dismissed suggestions that the company faced problems raising cash.
New alliance to consult on hedge fund portfolio risk
PlusFunds, the New York-based hedge fund exchange, has teamed up with the Albourne Group, a hedge fund risk consultant, to form Albourne Plus (A+), a new risk consulting service for institutional investors.
Patsystems looks to exploit single stock futures
Patsytems, a developer of electronic platforms, has launched a new product connectivity for the trading of single stock futures (SSF).
Bankers arrive in NYC for Alternative Risk Strategies event
Bankers have started arriving in New York ahead of Risk magazine’s inaugural alternative risk conference in North America, Alternative Risk Strategies 2001 USA, which aims to provide a comprehensive analysis on the convergence of capital and insurance…
New FIX specs raise challenge to FpML
A new FIX (Financial Information eXchange) specification, version 4.3, has been released that can support fixed income and collective investment vehicles like mutual funds and unit trusts, plus offer more comprehensive coverage for general derivative,…
S&P nails exclusive Default Filter deal with IQ Financial
International credit rating agency Standard and Poor’s (S&P) has signed an exclusive deal to use IQ Financial Systems’ Default Filter product in the Asia Pacific region. S&P will be able to apply the default filter engine to its own credit risk…
Tiffe's Libor-Tibor spreads debut
The Tokyo International Financial Futures Exchange (Tiffe) has launched Libor-Tibor spreads (L-T spreads) today, as well as expanding the contract month cycle of the three-month euroyen Libor futures from a five-month-cycle to a 12-month-cycle.
HKEx to offer international stock futures/options
The Hong Kong Exchanges and Clearing (HKEx) plans to introduce 20 international stock futures and 20 international stock options contracts, which are due to start trading on October 4, subject to approval from the Securities and Futures Commission (SFC).
Nasdaq-Liffe selects the Options Clearing Corporation
Nasdaq Liffe Markets (NQLX), the New York-based joint venture between Nasdaq and the London International Financial Futures and Options Exchange (Liffe) set up to list single stock futures in the US, has chosen the Chicago-based Options Clearing…
Derivatives of increasing importance to ASX
The Australian Stock Exchange (ASX) has seen a 5% drop in net profit for the year to June 30, but revenues from derivatives trading, clearing and settlement rose 15% to $32.5 million, with 46,226 options contracts traded – 20% higher than the 38,519…