News
Axiom makes bid for European CDS market
Axiom Global Partners, the New York-based inter-dealer brokerage, has launched its electronic credit default swap (CDS) broking platform in the London market.
Citigroup to rebuild after major credit derivatives defections
Barclays Capital has poached eight New York-based credit derivatives traders from Citigroup, including Doug Warren, a managing director, as well as Jonathan Koerner and Gregory Tell, both directors.
Morley makes fixed-income appointment
Morley Fund Management, the London-based subsidiary of Aviva Group, has appointed Mark Watts as head of global fixed income.
Basel II to boost bank bondholdings
Basel II could have a major impact on the bond markets, according to a new report from Morgan Stanley.
E-Capital launches ethical CDS index
E-Capital Partners, the Milan-based financial advisory company that specialises in socially responsible investment (SRI), has launched an index for ethical credit default swaps (CDS).
EEX to launch spot carbon contract
German-based electronic exchange European Energy Exchange (EEX) is to launch a spot contract to trade EU carbon emissions allowances in January 2005.
Energy users demand trading oversight
The debate continues over whether speculative traders are distorting energy prices, following a letter sent by the Industrial Energy Consumers of America (IECA) to Congress last week. “Energy markets have changed drastically, and regulatory oversight,…
Static emissions price “does not reflect fundamentals”
The European emissions trading market, with its static price over the last four to five weeks, “is not a good market,” and does not reflect fundamentals, said Chris Rowland, managing director of utilities research at Dresdner Kleinwort Wasserstein.
Commerzbank to close FX trading and sales in London
Commerzbank is to close its trading and sales operations in London for foreign exchange.
Risk management salaries increase dramatically, says financial recruitment specialist
Salaries in risk management have increased significantly, according to Morgan McKinley, a financial recruitment firm. Demand for credit risk analysts has been particularly strong, but other areas such as operational risk and market risk continue to be…
Former Deutsche traders launch hedge fund
Two former Deutsche Bank traders have launched a New York-based hedge fund, becoming the latest in a string of former investment bank employees to enter the business.
TCW Group hires CDO manager
Los Angeles-headquartered asset manager, TCW Group, a subsidiary of Société Générale, has hired Edward Steffelin for its New York office.
More banks get China derivatives licences
More banks have won approval to trade derivatives onshore in China, with JP Morgan Chase and UFJ among the latest to be given the go-ahead from the China Banking Regulatory Commission (CBRC).
Isda taps new chairs
The International Swaps and Derivatives Association has elected a new chairman and vice-chairman. Jonathan Moulds, head of cross-product strategic trading at Banc of America Securities, has been elected chairman, while Michele Faissola, global head of…
BNP Paribas brings securitisation origination into financial institutions group
BNP Paribas has incorporated securitisation origination into its financial institutions debt capital markets (FIG DCM) team in order to strengthen and broaden coverage.
Barclays to issue commodity-backed CDO
Barclays Capital, the investment banking arm of London-based Barclays Bank, is to issue a synthetic collateralised debt obligation (CDO), backed by a series of commodity swaps.
Energy traders urged to pre-register for risk poll
Energy traders wishing to take part in Energy Risk/Risk’s 12th annual Commodity Rankings can now pre-register to vote to avoid missing important voter updates and deadlines in the magazines’ annual survey of the energy business.
Volkswagen announces first true sale securitisation
Volkswagen Bank announced this week its intention to securitise some €1.1 billion in auto loans using the German True Sale International (TSI) platform.
BarCap boosts illiquid credit trading
London-based investment bank, Barclays Capital, has hired Kevin Gribben as a director in its illiquid credit trading division.
US financial institutions face major challenges under Basel II, says Financial Insights
Financial institutions in the US face tremendous challenges under the new Basel Accord, also known as Basel II, according to Financial Insights, a financial services research firm based in Framingham, Massachusetts.
BNY sales head joins EFG Bank Group
Raymond O'Leary, formerly head of European forex sales at Bank of New York (BNY) in London, has joined EFG Bank Group, a private bank based in Geneva.
Non-US airlines profit from low-flying dollar
The weak dollar is giving airlines outside the US some relief from the impact of high fuel costs, according to their latest financial results, reports Risk’s sister publication, FXWeek .
RBS to offer interest rate swap trading through Bloomberg
Royal Bank of Scotland’s (RBS) London-based Financial Markets division has expanded its Bloomberg Electronic Trading offering by adding euro interest rate swaps.