News
FMCL launches Asian oil forward curve data
The Forward Market Curve Limited (FMCL) has launched the first module of its ForwardMarketCurve (FMC) product – an all-broker methodology for achieving robust and accurate price discovery in forward commodity markets.
Wanted: cash for new lines
Can Ferc’s standard market design encourage much-needed investment in the US power grid and develop a merchant model for transmission assets? By Kevin Foster
Sector roundup
Sectors
Leading dealers sign up to new CDS matching service
JP Morgan Chase, Deutsche Bank and Morgan Stanley have signed up for a new global credit default swap (CDS) matching service that the Depository Trust & Clearing Corporation (DTCC) plans to launch in June.
Deutsche Bank adds to mortgages team
In the latest of a raft of hires to its mortgages team, Deutsche Bank has hired John Critelli as a senior structurer in its agency collateralised mortgage obligation (CMO) group.
Discovery becomes first US asset management client for Trema
Discovery Capital Management, a multi-asset-class emerging market hedge fund with $900 million in assets under management, has introduced Trema Finance Kit, a straight-through processing portfolio analysis, accounting and reporting tool.
'Restructuring' partly dumped as Basel shifts stance on risk mitigation
The Basel Committee on Banking Supervision, the architect of new banking regulation, Basel II, which is due for implementation by the end of 2006, has made a number of concessions in its proposed treatment of risk mitigation techniques in the release of…
TriOptima terminates €420 billion in rate swaps
The delayed first run of TriOptima’s swap tear-up service, TriReduce, eliminated 7,880 euro-denominated interest rate swaps with a notional value of €420 billion – or about a fifth of the notional value of the credit derivatives market.
Standard Chartered hires interest rate derivatives trader
Standard Chartered Bank has hired Cleber Tinidade as a senior interest rate derivatives trader in its London office.
Trac-x gains market maker support
BNP Paribas has signed up to make markets in the Trac-x Europe credit default swaps index initiative established by JP Morgan Chase and Morgan Stanley. Other major dealers are also looking into offering market making services in Trac-x products, with…
Political uncertainty feeds US rates volatility
Despite the end of large scale hostilities in Iraq, continuing political uncertainty in the wake of the war is likely to cause increased intra-day US interest rates volatility in the short term, according to research by Deutsche Bank.
FX Concepts hires Citigroup strategist
New York-based currency overlay manager FX Concepts has hired Citigroup’s Tao Huang as vice-president of research to strengthen its quantitative research and product development.
Isda publishes weather derivatives confirmation document
The International Swaps and Derivatives Association has published a trade confirmation document for over-the-counter weather index swap transactions.
CP3 released
The Basel Committee on Banking Supervision released its third consultative paper (CP3) this morning, by posting the paper on its website.
‘Restructuring’ partly dumped as Basel shifts stance on risk mitigation
The Basel Committee on Banking Supervision, the architect of new banking regulation, Basel II, which is due for implementation by the end of 2006, has made a number of concessions in its proposed treatment of risk mitigation techniques in the release of…