News
Langley quits Merrill Lynch to co-head corporate risk at BarCap
Barclays Capital has hired John Langley to join its London office in June as co-head of European corporate risk advisory. Langley is leaving Merrill Lynch, where he has worked for 11 years, most recently as head of the bank’s risk advisory group and co…
S&P predicts greater sovereign rating demand
Ratings on emerging market sovereigns will be a growth area, says the agency
Deutsche Bank names managing director for sharia subsidiary
Deutsche Bank has appointed Humayon Dar as managing director of its global sharia advisory service, Dar Al Istithmar (DI). He will run the unit's London office, taking over from the previous managing director Stefan Kirsch, who moves to Deutsche Bank’s…
DIFX names Larsson as chief executive
The Dubai International Financial Exchange (DIFX) has named Per Larsson as its next chief executive. He will take over later this year.
ASX bids A$2.3 billion for SFE
The Australian Stock Exchange (ASX) has bid A$2.3 billion ($1.6 billion) for SFE Corporation, which runs the Sydney Futures Exchange.
S&P to adopt Case-Shiller housing indexes for CME derivatives
Standards & Poor’s (S&P) plans to offer housing indexes, which will provide the basis for the Chicago Mercantile Exchange’s (CME) new breed of property derivatives.
End of the line for mass distribution?
The Markets in Financial Instruments Directive, which comes into force in November 2007 across the European market, could spell trouble for distributors that sell structured investments without offering advice. Amanda Lee reports
UK’s FSA to probe retail access to hedge funds
The UK’s Financial Services Authority (FSA) is to consult next year on widening the range of funds that can be marketed to retail investors, which should include new authorised funds of hedge funds.
HSBC promotes Brown to head of FX
HSBC has promoted Andrew Brown to global head of foreign exchange, a new position.
FSA publishes feedback on hedge fund risks
The Financial Services Authority (FSA) has published its feedback to discussion paper 05/4 Hedge Funds: A Discussion of Risk and Regulatory Engagement, which looked at the impact of hedge funds on the UK's wholesale market.
American Stock Exchange demutualises
The American Stock Exchange (Amex) is going to go public. Neal Wolkoff, the exchange’s chairman and chief executive, said: “We have been carefully examining the structure of the exchange for months. The board’s approval to take the initial step to…
Isda proposes net physical settlement
The International Swaps and Derivatives Association has released a draft of the net physical settlement supplement to the 2003 credit derivatives definitions, which aims to simplify the settlement of credit default swaps (CDSs) after a credit event.
BNP Paribas' Steinberg to head equity derivatives for the Americas
Todd Steinberg, previously deputy head of equity derivatives, Americas, at BNP Paribas in New York, has been promoted to head of the team, sources close to the French bank told RiskNews' sister publication, Structured Products Extra .
FSA to probe hedge fund valuations
The UK's Financial Services Authority is to investigate hedge fund managers who it said could be overstating their assets to gain larger bonuses.
Banks get stressed
The UK's Financial Services Authority has called on banks to improve stress testing of possible disruptive events, while the Basel Committee declared last year that firms must supplement their value-at-risk models with stress tests. But some bankers…
Deutsche Bank names head of EM debt trading
Deutsche Bank has appointed Kay Haigh as head of emerging market debt trading in London.
Spectron brokers first 2012 CO 2 allowance trade
The first 2012 European CO 2 allowances (EUAs) have been traded through energy broker Spectron.
TSE plans $529m trading system upgrade
After a year of operational embarrassment, the Tokyo Stock Exchange plans to spend $529 million on upgrades to its electronic trading platform.
Allen & Overy expands Chinese derivatives team
Allen & Overy is to continue the expansion of its team covering derivatives in Hong Kong and on the Chinese mainland. The international legal firm said the development of the derivatives market in China had led to an increased demand for specialised…
Refco faces more woes as FX unit sale falls through
Bankrupt financial services group Refco has failed to sell its foreign exchange brokerage, and its securities broking arm has been ordered to pay $122 million compensation to a Russian customer.
FSA releases second bulletins on CRD
The FSA has published its second set of Capital Requirements Directive (CRD) implementation bulletins for banks, building societies and investment firms. This newsletter aims to help institutions identify key points in the consultation paper, as well as…
BNP Paribas hires Bystrom for new ETF options trading role
BNP Paribas has hired Dan Bystrom as head of exchange-traded fund (ETF) options trading in New York, in a newly created role.
Fortis to expand structured products offering
Fortis Bank is to expand its range of structured products in response to the growing investor appetite for exotic and hybrid investments. Under the plan, scheduled for completion in 2010, the bank will increase its current, mainly credit-focused offering…
Institute of Op Risk up and running
LONDON – The Institute of Operational Risk, long in the planning stages, is now gathering momentum, according to Philip Martin, director of the organisation.