News
European Parliament approves modified draft for Mifid
The European Parliament has voted in favour of the resolution of the Committee of Economic and Monetary Affairs that approves the most recent draft implementation measures for the Markets in Financial Instruments Directive (Mifid).
Lipton joins Merrill Lynch to head real estate analytics
Alexander Lipton has joined Merrill Lynch as global head of credit, real estate, structured products analytics.
Cost cutting prompts departures at West LB
German commercial bank West LB is to close its trading operations in London as it transfers more of its business to Düsseldorf. The decision to cut costs has already led to two senior departures at the bank.
China Construction Bank makes top-level appointments
China Construction Bank has appointed Pang Xiusheng as chief financial officer and Zhu Xiaohuang as chief risk officer. The two new positions are part of a major revamp of the bank’s risk management structure, and both will take up their posts…
EC calls for evidence on transparency in bond and non-equity markets
The European Commission (EC) has launched a call for evidence on transparency in bond and non-equity markets. The evidence will be used to determine whether mandatory pre- and post-trade transparency should be introduced throughout the European Union (EU…
ASX chief D'Aloisio forced out
Chief executive Tony D'Aloisio is to leave the Australian Stock Exchange (ASX) after its merger with the Sydney Futures Exchange (SFE).
ABN Amro names new head of Asian derivatives
ABN Amro has named Muse Kwong as its new head of Asian derivatives.
Deutsche Bank recruits head of north Asian institutional clients
Deutsche Bank has hired Shen Yan as head of its institutional client group for north Asia and head of credit sales for Asia.
Deutsche Bank names Lippmann head of ABS trading
Deutsche Bank has appointed Greg Lippmann, already head of collateralised debt obligation (CDO) trading, as global head of trading and syndicate in asset-backed securities (ABS).
Calyon and Forsyth Barr launch first retail credit CPPI in New Zealand
The first credit product offered to retail investors in New Zealand using constant proportion portfolio insurance (CPPI) techniques has been launched by French bank Calyon and Forsyth Barr, a New Zealand stockbroking and investment advisory firm.
Wachovia selects Reveleus to ensure Basel II compliance
A Tier I bank obligated to implement Basel II in the US has selected Reveleus to compute regulatory capital for the advanced internal ratings-based approach under the revised Accord. Wachovia, the fourth-largest bank in the US, has announced that it will…
Reuters buys risk management specialist Application Networks
Reuters has paid $41 million for Application Networks, a risk management software specialist.
Three dealers trial historical swaps archiving via SwapsWire
Three dealers – ABN Amro, JP Morgan and UBS – have uploaded a sample of historical swaps trading data to SwapsWire in London as part of a pilot project for resolving mismatches.