News
US Treasury department creates new financial institutions policy office
A new office that will focus on legislative and policy matters related to the financial services sector — including commercial banks, investment banks, insurance companies, credit unions and savings and loans — was announced yesterday by the US Treasury.
Isda and Liba protest against CAD3 divergences from Basel II
The International Swaps and Derivatives Association (Isda) and the London Investment Banking Association (Liba) have released their joint response to the European Union's third capital adequacy directive (CAD3). The response was delivered at non-public…
State Treasury of Finland joins growing Trema client list
Swedish technology firm Trema added to its growing list of eurosystem clients last week, with the announcement that the State Treasury of Finland has implemented Trema's Finance Kit to manage state debt.
Feinstein asks CFTC to investigate gas pricing manipulation
Dianne Feinstein, the Democrat senator for California, yesterday urged the Commodity Futures Trading Commission (CFTC) to work with the Federal Energy Regulatory Commission (FERC) to investigate whether there has been manipulation of the US natural gas…
Fimat Group reinforces Asian operations
Fimat Group, the brokerage arm of French bank Société Généralé, has promoted a number of its staff in the Asia-Pacific, in a move aimed at reinforcing its position in the region.
Reuters 3000Xtra offered via servers
Reuters has developed a centrally managed server farm that should allow clients to deploy its premium information and trading Reuters 3000Xtra terminals at reduced cost.
BNP Paribas hires Hong Kong-based securitisation specialist from Fitch
BNP Paribas has hired Sunny Park as a Hong Kong-based associate director and structured credit research analyst. She is due to start work at the French bank this week, and was previously an analyst in the structured finance division of credit rating…
RMS releases portfolio-based pricing for weather derivatives
Risk Management Solutions (RMS), a California-based provider of software for managing natural hazard risks, has released version 3.3 of its Climetrix weather derivatives trading and risk management system.
Derivatives are “time bombs”, warns Buffett
Derivatives are “time bombs” for the parties that deal in them and for the economic system as a whole, high-profile US investor Warren Buffett warned yesterday.
Canadian regulator addresses derivatives-based insider trading
The Ontario Securities Commission (OSC) plans to introduce regulations that prevent sophisticated investors from using derivatives to circumvent current insider trading rules.
US-based Basel opponents cry "foul" on commercial real estate
Small and medium-sized US banks will be hit hard by the treatment of commercial real estate under the proposed revisions to the Basel Accord, according to Sarah Moore, chief operating officer of the Colonial Bank Group, a regional US bank, at…
Asset Alliance sues Beacon Hill for $500 million
Asset Alliance, a $4.5 billion hedge fund investor based in New York, has filed a $500 million arbitration claim against the mortgage arbitrage fund, Beacon Hill.
IDC finalises S&P Comstock acquisition
Interactive Data Corporation (IDC) has purchased S&P ComStock, a real-time information service providing financial data from more than 180 stock exchanges worldwide.
Credit derivatives employees reap the highest salaries
Staff employed in the credit derivatives divisions at banks on average receive the highest salaries of all staff, with an Asian-based managing director in synthetic structuring at a bulge-bracket firm earning an average basic plus bonus of £1.35 million…
Korea’s Koram Bank joins SuperDerivatives
Korea’s Koram Bank, a joint venture established by a consortium of local conglomerates, has joined SuperDerivatives, the internet-enabled currency options pricing system.
Moneyline Telerate to offer GFI repo data
Moneyline Telerate will offer access to inter-dealer broker GFI’s European repo data in the next couple of months, and plans to offer other GFI data later this year.
Canadian regulator addresses derivatives-based insider trading
The Ontario Securities Commission (OSC) plans to introduce regulations that prevent sophisticated investors from using derivatives to circumvent current insider trading rules.
