News
Barrie and Hibbert appoints senior risk management actuary
Edinburgh-based financial risk management consultants, Barrie and Hibbert, has appointed Colin Wilson as a senior consultant.
TriOptima executes more CDS tear-ups
TriOptima, the Stockholm-based company specialising in multilateral swaps terminations, conducted a further round of the US Dow Jones CDX credit default swap (CDS) index tear-ups yesterday, tearing up $650 billion in notional with a mark-to-market value…
Comment requested on revised non-Basel II capital adequacy standards
Several US banking oversight and regulatory agencies, including the Federal Reserve Board, have requested public comment within 90 days on proposed changes to current US capital adequacy standards. The revised standards would, in the future, apply to…
Major dealers issue joint letter to Fed on credit derivatives
The New York Federal Reserve meeting with 14 major dealers on September 15 appears to have succeeded in coercing the industry into taking more concerted action to tackle the mounting problems in credit derivatives confirmation backlogs. Following the…
HSBC is first major bank to go ‘carbon neutral’.
HSBC has reduced its net CO2 emissions to zero by reducing energy use, buying ‘green’ electricity and then offsetting the remaining CO2 emissions by investing in carbon projects.
Ex-NAB traders to stand trial
Two former National Australia Bank (NAB) forex options traders, Vincent Ficarra and Gianni Gray, are to stand trial for their alleged part in the A$360 million ($275 million) rogue trading scandal uncovered by the bank last year.
BarCap adds precious metals dynamic order book to trading platform
Users of Barclays Capital’s cash and derivatives electronic trading platform, BARX for Commodities, now have access to a dynamic order book function for precious metals. Launched today, the new feature allows clients to submit orders which are then…
Algorithmics wins European credit registry contract
Algorithmics, the Toronto-based risk management software company, is to help run a planned Europe-wide credit data service.
T-Zero expects more trades this month following Friday debut
UK-based credit derivatives platform T-Zero expects to see more trades in the next couple of weeks following its inaugural trade on Friday, says Mark Beeston, the platform's president.
BNP Paribas reinforces structured products team in Germany
BNP Paribas has made two new appointments to its German structured product team and one to its bond team in Frankfurt.
Tullett Prebon launches freight derivatives desk
Tullett Prebon has teamed up with three international ship-brokers to operate in the growing freight derivatives market in London, the US and Singapore.
Tullett Prebon forms wet freight derivatives venture
Tullett Prebon, part of Collins Stewart Tullett, is the latest interdealer broker to partner with a shipping broker to offer forward freight agreements (FFAs). It has started a venture with three international shipping brokers with the aim of…
Barclays boosts inflation-linked business
Barclays Capital has reshuffled its inflation products teams around the world, as it faces up to strong competition in the sector.
Hurricane Katrina blows up a storm for insurers
The cost of the hurricane is estimated at between $25bn and $60bn
Cashflow CDOs contain more CDS, says Fitch
The rating agency reckons around 30% of the collateral in recent CDOs is synthetic
Healthy outlook for hybrids
The hybrid pipeline is benefiting from an increase in planned M&A activity across Europe
Fund manager sues GM for 'misstating' revenues
Elsewhere, Fiat moots first high-yield bond since its 2002 downgrade
