News
Citigroup hires Browning as head of forex
Citigroup has hired Marcus Browning, formerly head of forex options at Merrill Lynch, as its first global head of forex trading.
Macquarie fined over futures contract
Macquarie Bank has been fined A$20,000 by Australian regulators for breaking Sydney exchange rules on futures trading.
Travelex bolsters US risk solutions unit
Foreign exchange specialist Travelex has boosted its US risk solutions group with two new hires and two internal transfers.
GFI takes on Refco Paris brokers
US broker GFI has named three former Refco brokers to head its new Paris office.
Corrie and Kyriakos-Saad latest to quit JP Morgan
John Corrie and Fawzi Kyriakos-Saad, who currently head equity and credit respectively at JP Morgan in London, have joined the mass exodus of investment banking staff that have left the bank in the past 12 months.
Questioning the numbers
Model risk has become a key focus for financial institutions. But how do dealers ensure their models are implemented correctly and that they accurately reflect the risks an institution is running? By Laurence Neville
Kamakura expands CDS information service
Kamakura has added credit default swap (CDS) correlations for 16,000 CDS to its online credit information service.
BarCap adds industry name to plastics business
Barclays Capital has bolstered its plastics business with the appointment of David Paul as director of commodity sales in London. Paul joins from the New York based brokerage firm Refco, where he was global head of plastics futures trading.
Nybot lists financials on CBOT
The New York Board of Trade (Nybot) has entered into a non-binding agreement with the Chicago Board of Trade (CBOT), allowing its financial products to be traded on CBOT’s electronic platform.
Back offices must be reformed to reduce risk, says FSA
The Financial Services Authority (FSA), the UK’s financial markets regulator, has said that it is still concerned about backlogs in the credit derivatives market despite improvements, and has warned that banks need to further develop the robustness of…
Tokyo Stock Exchange hires technology head
The Tokyo Stock Exchange (TSE) has hired Yoshinori Suzuki as its chief information officer - a newly created position.
Copper scandal prompts SRB to ban trading
China is to ban units within its State Reserves Bureau (SRB) from trading in equity, foreign exchange, corporate bonds and derivatives, according to newswire reports in Beijing.
Swiss Re hires weather specialist for advisory team
Swiss Re has hired Brian O’Hearne as a managing director of North American environment and commodity markets within its capital management and advisory arm in New York.
Griffith named as new DGCX chairman
The Dubai Gold and Commodities Exchange has named Colin Griffith as its new chairman, replacing David Rutledge.
PPF should not ignore CDSs, Isda says
The UK Pension Protection Fund (PPF) should recognise credit default swaps (CDSs) when assessing the risk attached to pension funds' investments, the International Swaps and Derivatives Association argued today.
Deutsche cuts out $1 trillion in risk drive
Deutsche Bank cut out $1 trillion of what it described as 'predatory trades' last year, as it repositioned its forex business to make it more profitable.
Italian stock exchange moves towards IPO
The Borsa Italiana, the Milan-based stock exchange, is preparing for flotation, in a move that could speed up consolidation among European exchanges.
TSE works overtime to expand trade capacity by Monday
The Tokyo Stock Exchange (TSE) will increase the trading capacity of its equity, convertible bonds and exchangeable bonds markets by half a million executed trades a day from Monday if tests to upgrade the system over the weekend are successful,…
Market blames government for UK gilt plunge
A dramatic fall in the yield of UK index-linked gilts yesterday has highlighted the risk of a gilt bubble and prompted criticism of the Treasury.
Deutsche Bank launches exchange-traded commodity index fund
Deutsche Bank has launched a commodity index tracking fund in New York, the first commodity index-linked fund to be listed on a US exchange.
TSE shortens trading hours following shutdown
The Tokyo Stock Exchange (TSE) will shorten its afternoon trading by half an hour starting tomorrow, after it was forced to close some of its markets 20 minutes early today as the volume of transactions hit capacity levels.
Calyon names head of hybrid structuring
Calyon has appointed Steve Sahara as global head of hybrid capital structuring, based in London.