News
Standing to leave JP Morgan
Rob Standing, London-based head of JP Morgan Chase's interest rates business, is to leave the firm to join London Diversified Fund, a $1 billion fixed-income hedge fund he set up while at Chase Manhattan in 1995.
Deutsche Börse and Swapstream to co-host trading platform
Deutsche Börse and London-based independent service provicer Swapstream have teamed up to offer a 'neutral' trading platform for swaps and other over-the-counter derivatives.
Malaysian bourse delays launch of single-stock futures
The Malaysia Derivatives Exchange (MDEX) has postponed the launch of single-stock futures (SSFs) contracts following a decision to further review the implications of trading the products on the main stock market. SSFs were initially scheduled for launch…
KPMG Study highlights regional differences in Basel implementation
According to a recently released global study by the consulting arm of KPMG, the the international auditing firm, there are significant differences in how financial institutions in the US and Europe are preparing for the coming Basel Accord revisions.
ABN Amro revamps financial markets operations
ABN Amro has combined its global financial markets unit with its loan products division, as part of a major overhaul of its financial markets business.
Credit spreads tighten due to CDO upsurge
Credit default swap spreads tightened this week as the continued upswing in collateralised debt obligation (CDO) issuance pulled in offers, and limited debt-issuance reduced demand for credit protection.
AIR releases US temperature database
AIRWeather, a division of Boston-based natural hazard modelling company AIR Worldwide Corporation, yesterday released PerfecTemp Hourly, claiming that it is the first cleaned and reconstructed hourly station temperature database for the US. PerfecTemp…
Patsystems names two non-executive directors
UK electronic trading software company, patsystems, today named Stewart Millman as non-executive chairman and Richard Last as a non-executive director.
Three more Korean securities firms receive derivatives licences
Three additional securities firms have received authorisation to trade over-the-counter (OTC) derivatives in South Korea following regulatory changes last July that opened up the OTC derivatives market to the country's securities houses.
Fitch unveils OpVantage version 5.0
Fitch Risk, a unit of rating agency Fitch, plans to release a March update of its OpVar software, which provides a database of operational loss events and software that helps banks better model operational risk.
Korea's SK Life acquires Kamakura market risk system
SK Life Insurance, one of South Korea's largest life insurance companies, has licensed Honolulu-based risk management technology firm Kamakura's market risk system, Kamakura Risk Manager. The deal marks the 10th Korean client for Kamakura.
IAS will inject volatility into financial statements, says S&P
The required adoption of International Accounting Standards (IAS) for publicly listed European Union banks by 2005 is set to boost not only the transparency, but also the volatility of these institutions' financial statements in coming years, rating…
IAS will inject volatility into financial statements, says S&P
The required adoption of International Accounting Standards (IAS) for publicly listed European Union banks by 2005 is set to boost not only the transparency, but also the volatility of these institutions' financial statements in coming years, rating…
Reuters to focus on risk services as losses hit £533 million
Reuters is to concentrate its business development on risk management, treasury products and content management as part of an ongoing overhaul of the UK information and trading systems provider, instigated by chief executive Tom Glocer.
Eurex to expand French equity options segment
Eurex will next month increase the number of French companies it offers options on from nine to 36, the Swiss-German derivatives exchange said in a statement.
First Taiwanese ABS to close next week
Industrial Bank of Taiwan (IBT) and lead manager SG, the investment banking arm of French bank Société Générale, have set the closing date for Taiwan’s first asset-backed security transaction for February 24, according to a source familiar with the…
Calypso hooks up with DataSynapse
San Francisco-based software provider, Calypso Technology, has teamed up with New York-based technology vendor DataSynapse, to market the integration of the grid-computing capability of DataSynapse’s LiveCluster computer infrastructure product with the…
GE ERC names Narvell as new global chief actuary
GE's Employers Reinsurance Corporation (GE ERC) has lured John Narvell from XL Winterthur International as its global chief actuary.
Hancock, Merton and Mendoza launch Integrated Finance
Integrated Finance (IFL), the brainchild of Peter Hancock, Robert Merton and Roberto Mendoza – and one of Wall Street’s worst kept secrets – has officially opened for business.
Dollar downturn sparks rise in hedging activity
The fall of the US dollar in the past few months has sparked an increase in hedging activity among US companies, despite their reluctance to use hedges just six months ago.
Derivatives exchange volumes booming, says FIA
The world’s derivatives exchanges saw a 37% increase in trade volume last year, up 1.61 billion contracts from last year’s 5.99 billion, according to the Futures Industry Association (FIA).
AIB promotes capital markets head
Allied Irish Banks (AIB) has made its capital markets head, Colm Doherty, an executive director of the bank.
CLS hires ABN Amro’s Butterfield
Jonathan Butterfield has joined CLS Bank in New York as executive vice-president, marketing and communication.
CME set to offer eurodollar data via the web
The Chicago Mercantile Exchange (CME) plans to introduce a new market data application called E-px, which will display price and volume data for eurodollars.