News
OM appoints Asia-Pacific head
OM Technology has appointed Paul Bennett as president for the Asia-Pacific region, reports RiskNews' sister publication, Dealing With Technology .
Senators lambast CFTC for opposing OTC market regulation
US senators Dianne Feinstein (Democrat, California) and Maria Cantwell (Democrat, Washington) have attacked the US Commodity Futures Trading Commission (CFTC) for opposing their legislation that seeks to increase the regulatory oversight of the over-the…
BNP hires in commodity derivatives, following departures
French bank BNP Paribas has made four appointments in its commodity derivatives business, following the departure of two senior members of its team last month.
Basel II published, industry takes stock and regulators refocus energies
The final Basel II document was published to great fanfare on Saturday in Basel, Switzerland. The final document - even longer than the previous third consultative paper released in April 2003 - will take some time for the industry and the world's…
Bank associations hit out at Basel II failings
International banking bodies have hit out at perceived failings in the final version of the Basel II capital Accord, published by the Basel Committee on Banking Supervision on June 26.
TXU lines up $2.5 billion of new credit facilities
Three subsidiaries of Dallas-based energy company TXU have refinanced $2.25 billion of bank facilities scheduled to mature in 2005.
BNP hires in commodity derivatives, following departures
French bank BNP Paribas has made four hires in its commodity derivatives business, following the departure of two senior members of its team last month. In early May Dutch bank ABN Amro hired Wayne Harburn, BNP’s former head of European energy trading,…
Merrill boss adds ex-colleagues
Merrill Lynch's new global foreign exchange chief, Stephen Kemp, has hired three former colleagues from Morgan Stanley, the bank he left last April to join Merrill, reports RiskNews' sister publication, FX Week .
GNI adds to spot platform
UK broker GNI, a division of alternative investment provider Man Group, goes live today with two more currency pairs on its online platform GNI Touch's spot forex trading module, reports RiskNews' sister publication, FX Week .
Recalibration of Basel II announced in final document
The final version of Basel II was released on Saturday, June 26, at an evening press conference in Basel, Switzerland.
BNP Paribas hires forex derivatives trader
Carl Nabar has joined French bank BNP Paribas in New York as a senior foreign exchange derivatives trader.
Barclays Capital begins US power trading
Barclays Capital has completed its first US power swap, a trade which represents the start of its commodities business expansion into the Americas.
Deutsche snaps up former Barclays credit research analysts
Gary Jenkins and Jim Reid, who both recently left Barclays Capital, are to join Deutsche Bank in London. Jenkins will become European head of credit research and fundamental strategy, with Reid joining him as a European credit strategist. Reid will start…
Orc customers to gain access to Citi’s trading platform
Orc Software, the Stockholm-based technology vendor that supplies systems for market-making, trading and brokerage, has signed an agreement with Citigroup to allow all its existing customers to access the Citibank automated trading platform (Cats-OS)…
OECD works with China on governance issues
At a mid-May conference in Beijing, Richard Hecklinger, deputy secretary-general of the OECD, outlined the work that his organisation is undertaking both on a global scale and within China to improve corporate governance.
'What is Risk management?' ask Risk USA speakers
The way banks and other financial institutions think about – and sometimes misinterpret – their risk management function formed the main theme of the opening keynote speeches at this year's Risk USA conference.
Voser returns to Shell from ABB
Troubled energy major Royal Dutch/Shell has appointed Peter Voser as director of its Shell Transport and Trading Company subsidiary and as group managing director and director of finance of the Royal Dutch/Shell group.
DTCC introduces real-time trade-matching service
The New York-based Depository Trust and Clearing Corporation (DTCC) has introduced real-time trade-matching (RTTM) services for corporate and municipal bonds and unit investment trusts (UITs), a move it called a significant step in the industry’s…
Barclays Capital hires five in the Americas
London-based Barclays Capital has made five appointments to its corporate risk management and derivatives group.
BofE’s ‘Black Wednesday’ forex chief joins hedge fund
William Allen, the Bank of England’s foreign exchange chief during ‘Black Wednesday’ in 1992, has joined a hedge fund.
Options trading on EEX by year-end
Members of the European Energy Exchange (EEX) will be able to trade power options on the exchange by the end of 2004, with training and trading simulation for members beginning in July.
California grid operator names interim CEO
The California independent system operator (Cal ISO) has hired Marcie Edwards as interim chief executive, while it seeks a permanent replacement for Terry Winter who resigned on June 1.
APX to launch Zeebrugge gas exchange
APX – formerly known as the Amsterdam Power Exchange – today said it will launch a natural gas exchange for the Zeebrugge hub in January 2005. APX will develop the exchange in conjunction with Huberator, a subsidiary of Fluxys, the Belgian gas…
Dutch minister stakes career on energy liberalisation
The Dutch minister for economic affairs, Laurens Jan Brinkhorst is staking his political future on the success of electricity market liberalisation, claiming he will step down if security of electricity supply is threatened.