News
Deutsche Post World Net integrates treasury operations, reduces risk
Deutsche Post World Net, the Bonn-based pan-European logistics provider, has implemented Trema Finance Kit, in a bid to reduce risk and increase operational efficiency. The move is part of an effort to centralise its treasury operations, and the new…
Tower predicts bank IT spending will grow
New research from the Tower Group, a Boston-based consultancy, concludes that despite an intense focus on cost-cutting at banks, IT spending will grow modestly over the next three years. While many believe the banking sector's malaise will continue to…
CFTC moves to force Platts to divulge trade data documents
The US Commodity Futures Trading Commission (CFTC) has filed an application to enforce compliance with two document subpoenas issued to global publisher McGraw-Hill Companies, as part of its ongoing investigation of corrupt energy trading practices. The…
UBS signs up to Mark-it credit pricing service
UBS Warburg has become the latest bank to feed credit price information into UK-based Mark-it Partners' credit database. In return, it will receive quorum price information for cash and derivatives credit instruments based on information provided by a…
SunGard to help Irish companies comply with Basel II
SunGard Trading and Risk Systems, an operating group of US technology company SunGard, has teamed up with Dublin–based software services consulting company Client Solutions to help banks and non-financial institutions across Ireland meet regulatory and…
Cargill Investor Services expands into Italy
Cargill Investor Services, the futures and options broking unit of commodities trading company Cargill, has joined the Italian Derivatives Market (IDEM) - part of the Borsa Italiana - as a general clearing member.
RBC sets up new forex prop desk
Royal Bank of Canada (RBC) set up a new foreign exchange proprietary trading group last week in an attempt to steal a march on its competitors, according to RiskNews’ sister publication FX Week .
SunGard to help Irish companies comply with Basel II
SunGard Trading and Risk Systems, an operating group of US technology company SunGard, has teamed up with Dublin–based software services consulting company Client Solutions to help banks and non-financial institutions across Ireland meet regulatory and…
US Congress tries to tame Basel II
Members of the US House of Representatives have proposed a bill that would place Congress firmly in control of the nation's Basel II debate.
Ferguson named chairman of FSF
Roger Ferguson, vice-chairman of the Board of Governors of the US Federal Reserve System, was named chairman of the Financial Stability Forum (FSF) today.
Ferguson named chairman of FSF
Roger Ferguson, vice-chairman of the Board of Governors of the US Federal Reserve System, was named chairman of the Financial Stability Forum (FSF) today.
Lehman sells 'Ruby Finance' synthetic CDO in Japan
Lehman Brothers has sold an arbitrage synthetic collateralised debt obligation (CDO) referenced on a static portfolio of 140 credit default swaps worth a notional amount of $1.68 billion in Japan.
Japan’s Resona asks for government bailout
Resona Holdings, Japan’s fifth largest banking group created by the merger of Asahi and Daiwa, has asked the Japanese government for an emergency injection of public funds, following a sharp plunge in its capital reserves. The government bailout,…
Compliance systems are key to reputational risk, says Sullivan & Cromwell's Cohen
Regulators look to the strength of a firm's compliance system when deciding how aggressively to pursue it for rule violations, according to Rodgin Cohen, chairman of law firm Sullivan & Cromwell.
Raroc pioneer now questions use of risk analytics
Dan Borge, who developed the first widely used enterprise-wide risk management system, risk-adjusted return on capital (or Raroc) while head of global research and corporate strategy at Bankers Trust in the 1970s and 1980s, now questions whether…
CRO role vital for restoring confidence to energy sector, says Kaminski
Chief risk officers (CROs) have a vital role in helping to shape the future of the troubled energy sector, and should report directly to the board of energy companies if investor confidence is to be rebuilt in the sector, Vincent Kaminski, senior vice…
International banks have stronghold in Italian derivatives market
The first survey of Italian derivatives dealers conducted by Risk Italia , the Italian language edition of Risk , found that international banks have a stronghold in the Italian derivatives market. But the results were also encouraging for Italian banks,…
Perlin to leave World Bank
Gary Perlin has announced plans to leave his job as chief financial officer of the World Bank, effective June 30, to join Virginia-based credit card giant Capital One Financial as its CFO. The World Bank said that managing director Jeffrey Goldstein will…
Barclays makes new hire for Taiwan
Barclays Capital has appointed Amy Yang as a director in its investment banking division in Hong Kong. Yang will be responsible for providing foreign exchange and liability risk management products to the Taiwan corporate sector.
Raroc pioneer now questions use of risk analytics
Dan Borge, who developed the first widely used enterprise-wide risk management system, risk-adjusted return on capital (or Raroc) while head of global research and corporate strategy at Bankers Trust in the 1970s and 1980s, now questions whether…
Risk Italia 2003: Italian covered warrants market will recover
The Italian covered warrants market will recover, despite recent falling volumes, said Marco Montanari, head of the Italian covered warrants market at SG, speaking today at Risk 's inaugural Risk Italia conference in Milan.
Kiodex adds more energy forwards curves
Kiodex, a New York-based energy risk management technology company, told delegates at an EPRM congress in Houston yesterday that it will add five new forward curves to its global market data offering.
Icap to broker economic derivatives
Icap has agreed to broker the parimutuel auction-based economic derivatives jointly developed by Deutsche Bank and Goldman Sachs, the firms announced today. Icap will offer the full range of economic derivatives, including vanilla and digital options and…
US power sector slows decline - Fitch
The US power sector has seen little more than a “deceleration in the rate of its decline” in 2003, according to Richard Hunter, managing director of rating agency Fitch’s global power group.