News
Deutsche hires Nam for MBS trading
Keeyeol Nam, formerly a senior vice-president at RBS Greenwich Capital, has joined Deutsche Bank as a director responsible for mortgage derivatives trading.
CDS on ABS set for growth as documentation and sentiment improves
Asset-backed security (ABS) derivatives look set to gain increased popularity, firstly following the release of a template for ABS credit default swap (CDS) trading by the International Swaps and Derivatives Association, and second due to various bankers…
GFI launches oil and gas broking in London
Inter-dealer broker GFI has opened a London desk to broke crude and gas oil derivatives, including options, the company announced yesterday.
US economic data helps drive derivatives volumes – BIS
Stronger economic indicators in the US have pushed the derivatives markets into heightened activity this year, according to the quarterly review of the Bank for International Settlements (BIS), published yesterday.
US equity derivatives team quits Morgan Stanley
Nine members of Morgan Stanley’s US equity derivatives and structured product team quit to join Wachovia today. They join part of a staffing exodus from the US investment bank that its senior executives hope will be stemmed by yesterday’s resignation of…
RBS makes senior rates hire
Royal Bank of Scotland’s financial markets division has appointed Chris Fleming as head of rates flow and liquid products sales.
Trayport connects with IPE
London-based trading systems provider Trayport has entered into an independent software vendor partnership with London’s International Petroleum Exchange.
European Commission to examine energy-sector competition
The European Commission (EC) today launched an inquiry into competition in natural gas and electricity markets, in response to concerns from consumers and new market entrants about the development of wholesale markets and limited consumer choice.
RBS appoints head of inflation trading
The Royal Bank of Scotland (RBS) has appointed Chris Thomas as head of sterling inflation trading and deputy head of its inflation trading business.
Sponsor's article > At long last...
After more than a decade of active deployment at major institutions, simulation-based estimation of counterparty credit exposure is on track to become part of the Basel II regulatory capital regime.1 David Rowe notes, however, that its impact on…
Nymex to form Dubai oil futures exchange
The New York Mercantile Exchange (Nymex) and Dubai Holding are to form the Dubai Mercantile Exchange (DME) to trade sour crude and fuel oil in early 2006, the New York exchange announced today.
Isda publishes Asia ex-Japan equity derivatives agreement
The International Swaps and Derivatives Association has published a master equity derivatives confirmation agreement contract for inter-dealer trades in the Asia-Pacific region excluding Japan.
Clearing service launches for physical power in US
North American Energy Credit and Clearing (NECC), the Clearing Corporation (CCorp) and Atlanta-based commodity-trading platform IntercontinentalExchange (Ice) have launched a physical clearing service for the US energy markets.
Evolution to open Calgary office in July
Energy broker Evolution Markets will open an office in Calgary, the centre of the Canadian energy-trading markets, in early July.
Greenspan fears investor backlash against hedge funds and CDOs
Federal Reserve chairman Alan Greenspan believes investors' pursuit of improving yields by investing in hedge funds and complex investment products – notably collateralised debt obligations (CDOs) – may spark a backlash when the results fail to perform…
Nord Pool names new head of financial markets, launches new contract
Oslo-based electricity exchange Nord Pool has made two new appointments and is about to launch a new contract for hedging the power price difference between the German and Nordic power markets.
Risk USA 2005: Fund-of-funds better for investors, ego drives individual fund investment
A panel at the Risk USA 2005 conference in Boston argued that many investors in hedge funds would be better served by investing in fund-of-funds, rather than individual funds.
Risk USA 2005: Panel debates gulf between research and practice
Alongside several practitioners, John Hull, professor of derivatives and risk management at the University of Toronto, discussed the divide between the development of quantitative models and their actual use by traders, at the Risk USA 2005 conference in…
Risk USA 2005: Bank of America's Moulds highlights changing risks
One of the biggest challenges the derivatives industry faces is associated with technological development, said Jonathan Moulds, head of international markets at Bank of America, during a keynote address at Risk ’s annual Risk USA conference in Boston…
New carbon brokerage targets non-power-sector SMEs
Three senior players in the European emissions trading market have launched Carbon Capital Markets, a broker-dealer service that targets small to medium-sized companies (SMEs) outside the power sector.
Fixed income specialists quit JP Morgan for BoA
Bank of America has bolstered its European commercial paper (ECP) business in London with five senior hires, all from JP Morgan Chase.
Risk USA 2005: Hedge funds discuss current risk challenges
Hedge fund risk managers participating in a panel discussion at the Risk USA 2005 conference in Boston this morning said investors in hedge funds might be better protected by a larger population of fund chief risk officers (CRO), rather than increased…
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"The FFA market offers enough arbitrage opportunities to have a hedge-fund manager in clover"
Hull and White to collaborate with SunGard
Two of the leading academics in derivatives and risk management research, John Hull and Alan White, are working with the Reech unit of US-based vendor, SunGard, to develop a new structured credit pricing suite.