News
Deutsche boosts commodities business in Asia
Deutsche Bank has hired Richard Ng as vice-president and commodities marketer for the bank’s global markets business unit in Singapore.
HKEx to hire World Bank director as COO
Hong Kong Exchanges and Clearing (HKEx) plans to hire Patrick Conroy, director of the financial sector global partnerships group at the World Bank, as chief operating officer (COO) of the exchange.
JP Morgan Chase launches buy-side risk management product
JP Morgan Chase is launching a new risk management service, MorganRisk, to enable buy-side clients to gauge market risk in their own investment portfolios using the same proprietary methodologies used by the US bank.
SG to be first to market with UK currency warrants
SG, the investment banking arm of Société Générale, will issue the first currency warrants in the UK next week. The move follows the release of warrants linked to oil, gold and house price moves by Goldman Sachs, SG’s biggest rival in this area.
Japanese credit spreads tighten, especially in electronics
The cost of credit protection on Japanese corporate debt tightened across the board this week, with spreads in the electronics sector particularly narrower, although volumes were thin.
Fannie Mae issues statement on derivatives accounting policy
US mortgage agency Fannie Mae issued a statement today highlighting its policy on derivatives accounting, in a move to distance itself from the controversy that has enveloped rival mortgage agency, Freddie Mac.
Risk USA 2003: Schachter hits out at hedge fund disclosure
Barry Schachter, head of risk management at US hedge fund Sac Capital Advisors, believes quantitative hedge fund information disclosure to investors is relatively meaningless, and that they would be better served by disclosures about the risk management…
Regulators could stifle retail derivatives development, warns speaker
Overly strict financial regulations could stifle the development of derivatives products for retail investors, warned a keynote speaker at an international derivatives conference today, co-hosted by the Futures and Options Association (FOA) and the…
Risk USA 2003: Loan managers increasingly rely on credit derivatives, says CIBC's Bennett
Stephen Bennett, global head of portfolio management at Canadian Imperial Bank of Commerce (CIBC), believes credit derivatives are playing an increasingly important role in the loan market, both as hedging instruments and by helping facilitate mark-to…
Risk USA 2003: convertible bond replication soon possible, says hedge fund chief risk officer
Prospects for the replication of convertible bonds with other corporate securities and their derivatives are improving, said Jim Vinci, chief risk officer of Greenwich, Connecticut-based convertible bond arbitrage fund Paloma Partners, at the Risk USA…
Delayed trac-x Europe launches today
Trac-x Europe, part of a family of credit default swap indexes being assembled by JP Morgan Chase and Morgan Stanley, debuted trading today. A funded format is due to start trading the week of June 30. This follows a delay of about six weeks.
JP Morgan Chase launches buy-side risk management product
JP Morgan Chase is launching a new risk management service, MorganRisk, to enable buy-side clients to gauge market risk in their own investment portfolios using the same proprietary methodologies used by the US bank.
Colonial First State loses head of hedge funds
Damien Hatfield, head of hedge funds at Australia’s Colonial First State, one of the country’s leading investment managers, has left the firm to set up a joint venture company.
FNX opens South-east Asian hub
FNX, the Pennsylvania-based risk management software company, has established a regional support centre in Bangkok, Thailand.
Deutsche hires Blyth to run rates arbitrage unit
In the latest example of a growing industry trend, Deutsche Bank has set up a new proprietary trading unit, to be run by Stephen Blyth, which will specialise in interest rates' relative value and arbitrage. Europe is currently believed to be particularly…
Risk USA 2003: Schachter hits out at hedge fund disclosure
Barry Schachter, head of risk management at US hedge fund Sac Capital Advisors, believes quantitative hedge fund information disclosure to investors is relatively meaningless, and that they would be better served by disclosures about the risk management…
Regulators could stifle retail derivatives development, warns speaker
Overly strict financial regulations could stifle the development of derivatives products for retail investors, warned a keynote speaker at an international derivatives conference today, co-hosted by the Futures and Options Association (FOA) and the…
Risk USA 2003: Loan managers increasingly rely on credit derivatives, says CIBC's Bennett
Stephen Bennett, global head of portfolio management at Canadian Imperial Bank of Commerce (CIBC), believes credit derivatives are playing an increasingly important role in the loan market, both as hedging instruments and by helping facilitate mark-to…
Risk USA 2003: Jarrow describes new research on liquidity risk
Robert Jarrow, professor of finance and economics at Cornell University and an originator of the seminal Heath-Jarrow-Morton interest rate term-structure model, has described a new method for incorporating liquidity risk - the additional price volatility…
Spitzer calls for greater institutional investor involvement
New York Attorney General Elliot Spitzer, widely known on Wall Street for having led recent legal attacks on conflicts of interest between underwriting and stock analysis at investment banks, told attendees of the PRMIA 2003 summit today that…
US foreign exchange dealers revise operational risk standards
The Foreign Exchange Committee, a 20-dealer industry liaison group to the New York Federal Reserve Bank, has made new recommendations for the exercise of in-the-money foreign exchange options in a revision to its 1996 forex operational risk best…
Euronext.liffe struggles with regulatory harmony
Regulation from continental Europe has acted as a "straightjacket" around Euronext.liffe’s efforts to bring all its derivatives products together on a single electronic trading platform, according to Nick Weinreb, head of group regulation at Euronext…
Goldman Sachs snares Goh
Albert Goh, JP Morgan Chase’s head of equity derivatives origination for Asia ex-Japan, has been lured away from the bank to join rival Goldman Sachs.
Risk USA speakers call for loan commitments to be marked to market
Bank loan commitments should be marked to market, according to speakers attending the first day of Risk magazine's ninth annual Risk USA conference in Boston today.