News
Dealers boost online emerging market forex options services
Bank of America and Citigroup are among the latest in a series of banks building up online capabilities for emerging market currency options, as the market for the products continues to expand.
Credaris makes key hires to bolster risk management
London-based credit hedge fund Credaris Portfolio Management has made a number of top-level appointments and promotions to shore up its risk management capabilities.
Australia sees 37% decline in forex OTC options, says Afma
Trading in over-the-counter foreign exchange options fell by more than a third over 12 months to the end-June this year, according to figures released by the Australian Financial Markets Association (Afma).
Financial institutions failing to adopt economic capital approach, says PwC
Many financial institutions are failing to realise the full potential of using economic capital to enhance tactical and strategic planning, and optimise shareholder value, according to a new study by PricewaterhouseCoopers (PwC) in association with the…
CME hires Wong to head Asian office
The Chicago Mercantile Exchange has hired CF Wong, previously in charge of ABN Amro's Asian futures operation, to head its Asian office in Tokyo.
GFI hires vom Scheidt from Commerzbank
Interdealer broker GFI has hired Kurt vom Scheidt as a foreign exchange product manager in its data and analytics group of in London as FX product manager. Vom Scheidt joins from Commerzbank in London, where he was global head of markets business…
BGC to launch hybrid dollar repo trading platform
Interdealer broker BGC of the United States plans to go live with a combined voice and electronic US dollar repurchase agreement (repo) trading platform early next year.
RTS in hiring drive to boost global sales
German electronic trading software vendor RTS Realtime Systems has hired John Dempsey as business development manager in an effort to expand its business worldwide and boost global sales.
Start-up Northcross Capital sees Denarius as key to growth
New London-based hedge funds Northcross Capital has launched Anvil’s Denarius software platform as its cross-product front-office trade capture, liquidity monitoring and risk management system.
eSignal Europe vice-president defects to TT
Steve Stewart, vice-president and general manager of Interactive Data's eSignal division in Europe, has left the vendor to take up a new role at Chicago-based derivatives trading software vendor Trading Technologies in London.
Idiosyncratic risk poses greatest threat to credit derivatives market
Idiosyncratic risk poses a greater threat than a systematic widening in the credit markets during the next six months, according to John Tierney, head of credit derivatives research at Deutsche Bank.
Blame spreads over Mizuho trading error
The Tokyo Stock Exchange today admitted that a fault in its own systems led to the mistaken stock trade on December 8 that has so far cost Mizuho some $225 million.
CBOE names Tilly as vice-chairman
The Chicago Board of Exchange has re-appointed Edward Tilly as vice-chairman of the exchange for 2006.
BNP Paribas snaps up West LB trader for high yield expansion
BNP Paribas has appointed ex-West LB credit trader Alvaro Ballesteros as part of its drive to further its growth in the European high yield market.
CSFB launches longevity index
Credit Suisse First Boston released the first-ever longevity index today, which it hopes will enable standardised structuring and settlement of longevity risk transfer instruments such as swaps and structured notes.
RBC in global switch to Risque system
Royal Bank of Canada (RBC) plans to run Sophis’ Risque cross-asset risk management software across its global capital markets businesses, as it seeks to minimise exposure to operational risk, RiskNews can reveal.
OpenLink, Triple Point sign more bank clients
Rival US-based energy trading software suppliers OpenLink and Triple Point Technology (TPT) both signed big new clients this year, increasing their dominance of the energy software market for the banking sector.
LSE rebuffs Macquarie approach
The London Stock Exchange today rejected a "derisory" takeover proposal from Macquarie Bank of Australia.
Isda introduces new definitions for FX and currency options
The International Swaps and Derivatives Association and Foreign Exchange Committee at the New York Federal Reserve have introduced an appendix to the 1998 definitions on FX and currency swaps this week. These changes are designed to standardise…
UK government backs effort to increase use of agriculture derivatives
The UK government has thrown its weight behind a Home Grown Cereals Authority (HGCA) initiative to encourage UK farmers and the banking community alike to make better use of financial risk management techniques, if the industry is not to be hit hard by…
Basel II to encourage smaller banks to invest in risky assets
The new Basel II capital rules will encourage smaller banks to invest in riskier assets, according Peter Plaut, a managing director in fixed income research at Bank of America in New York.
Making progress
The recovery in Japan’s banking sector means that country’s banks are closer to meeting the minimum capital adequacy requirements of Basel II than was anticipated even 12 months ago. However, challenges remain, particularly with regards to data. By John…
Ex-Reuters executive Byrne joins Calypso
Ken Byrne, former executive vice-president of Reuters in North America, has joined credit derivatives trading software vendor Calypso Technology.
CSFB buys more German NPLs
CSFB has bought a €300 million loan portfolio from the German mortgage bank Deutsche Genossenschafts-Hypothekenbank (DG HYP).