News
Equities rally brings in cost of US and European debt protection
A strong rebound in world equity markets during the early part of this week has caused the cost of credit protection on US and European institutions to markedly narrow. The contraction in credit spreads this week nearly matched the widening seen last…
ING hires head of Asian hedge fund sales
ING Financial Markets, a unit of ING Group, has hired Daren Riley as global head of Asian hedge fund sales. Riley took up his new position last week.
Reuters bullish on risk systems sales
UK information and technology services provider Reuters believes the outlook for its treasury systems sales is positive, despite the overall downturn in the financial markets.
Merrill ousts European debt derivatives head Chattwell
Merrill Lynch has ousted its European head of fixed income and foreign exchange derivatives, Kevin Chattwell, as part of the US investment bank’s efforts to flatten its senior management structure.
OpVantage releases latest OpVar software
OpVantage has released an updated version of its OpVar operational risk management software.
Iafe due to name Ingersoll as its financial engineer of the year
Jon Ingersoll is due to be named this year’s financial engineer of the year by the International Association of Financial Engineers (Iafe) within the next few days, according to a number of industry sources. Ingersoll is the Adrian C Israel professor of…
BofA develops new credit risk model
Bank of America is developing a sophisticated model that uses derivatives data to help asset managers get a better handle on credit risk within their portfolios.
Regulators call on banks to focus on cross-border e-banking risks
Banks need to integrate cross-border electronic banking risks into their overall risk management framework, the Basel Committee said in a paper released today.
CME to list futures on S&P SmallCap 600
The Chicago Mercantile Exchange (CME) will start to trade futures contracts on rating agency Standard & Poor’s (S&P) SmallCap 600 stock index from November 11.
International banks step-up German fixed-income derivatives coverage
Deregulation of the German insurance market is attracting the world's top investment banks to expand fixed-income derivatives operations in Frankfurt.
JP Morgan Chase snatches Asia Risk’s house of the year award
JP Morgan Chase has won RiskNews ' sister publication Asia Risk 's derivatives house of the year award, while also picking up its prize for credit derivatives house of the year – an accolade it has held since the magazine began publishing its awards…
Kiodex releases upgrade of Risk Workbench system
Kiodex, the US risk management technology company, has released an upgraded version of its Kiodex Risk Workbench platform, with enhanced back-office functionality and counterparty credit exposure information.
Imagine shifts towards buy side
New York-based Imagine Software is adding the buy side to its business portfolio. Ray Krastins, Imagine’s director of application service provision (ASP) sales and marketing, told sister publication Buy Side IT that demand for the large enterprise-type…
Prebon Yamane snares rival's forwards brokers
Inter-dealer broker Prebon Marshall Yamane in London has hired a team of three currency forwards brokers from rival RP Martins.
Canadian pensions' use of derivatives rises
Fifty-two percent of Canadian pension funds now use derivatives as part of their investment strategies, up from 49% a year ago and 38% four years ago, according to a survey of 264 funds by Greenwich Associates, a Greenwich, Connecticut-based consulting…
CitiFx risk advisory group names new member
Jessica James has joined the investor team of CitiFX in London's risk advisory group. She reports to Laurent Desbois, head of risk advisory.
Basel to adopt flexible approach to point-in-time and business cycle ratings
NEW YORK - The Basel Committee on Banking Supervision, the architect of the Basel II capital Accord, will adopt a flexible approach to point-in-time and business cycle credit ratings used by banks when reviewing advanced internal-rating based approaches.
JP Morgan Chase in major ramp-up of portfolio management technology
JP Morgan Chase has assigned the largest chunk of its IT budget for the next two years to overhauling its portfolio management infrastructure, according to the US bank’s head of portfolio management Blythe Masters.
Basel to adopt flexible approach to point-in-time and business cycle ratings
The Basel Committee on Banking Supervision, the architect of the Basel II capital Accord, will adopt a flexible approach to point-in-time and business cycle credit ratings used by banks when reviewing advanced internal-rating based approaches.
Japan CDS market calms down ahead of holiday
The Japanese credit default swaps (CDS) market ended the week quietly, with wider spreads reflecting general apathy as participants prepare to take a break for the three-day weekend, dealers said.
Barclays Capital strengthens high-grade credit derivatives trading team
Barclays Capital, the investment banking division of Barclays, has appointed Spencer Jesner and James Parascandola to the firm's high-grade credit derivatives trading team. Jesner joins as a director and head of the US credit default swap trading team,…
UBS Asset Management appoints head of Asia-Pacific
UBS Asset Management has appointed Kai Sotorp as head of Asia-Pacific, overseeing all aspects of the firm's business in the region.
Protection spreads on European bank debt begin to narrow
The cost of credit protection for European banks started to contract this morning following a week of unprecedented spread widening across the sector.
Release of asset securitisation paper delayed again
BASEL – Global banking regulators have delayed the issue of their working paper on the treatment of asset securitisation under the complex Basel II bank capital until late next week.