News
Offshore wind to be big business, says new Fitch MD
Offshore wind projects and the newly expanded European Union will both bring good opportunities to Fitch Ratings over the coming 18 to 24 months, according to the Fitch Energy Group’s new European, Middle East and Africa (EMEA) managing director Andrew…
Energy users to join Italian power exchange by 2005
Energy consumers are now expected to start trading on the Italian wholesale power exchange by the start of 2005, said Paolo Ghislandi, secretary-general of Aiget, the Milan-based Italian association of energy traders and suppliers.
ING secures derivatives licence in China
Dutch financial group ING has secured a derivatives licence to operate in the Chinese city of Shanghai.
DTCC expands matching and confirmation services
The Depository Trust and Clearing Corporation (DTCC) is to expand its matching and confirmation facility, dubbed Deriv/Serv, to include equity derivatives.
NZ regulator warns over Basel II
New Zealand's top banking regulator advocated the implementation of a strong corporate governance framework by host regulators under Basel II in a mid-August speech. New Zealand's foreign-owned banking system is considered to be a model host regulator.
BNP Paribas appoints head of equities and derivatives for Americas
French bank BNP Paribas has transferred its deputy global head of equity derivatives to a new role as head of equities and derivatives, Americas.
SAS appoints business development manager
Technology company SAS has appointed a new business development manager to oversee its risk management practice.
Dominion forward-sells shares to obtain equity on demand
Virginia-based energy company Dominion has forward-sold 10 million shares of its common stock in a block trade to JP Morgan Securities. The deal was done in connection with a forward-sale agreement between Dominion and investment bank Merrill Lynch. It…
DTE Energy Trading opts for Amerex STP solution
DTE Energy Trading, a subsidiary of Detroit-based DTE Energy, has implemented Amerex Energy’s straight-through processing (STP) product, Xcheck - a web-based trade confirmation system that replaces the manual process of generating, transmitting and…
Fortis appoints new head of global markets
Fortis, the Belgium-based banking and bancassurance firm, has appointed a new head of global markets.
Energy swaps
Power
JP Morgan poaches from Deutsche’s credit derivatives group
A handful of Deutsche Bank’s credit derivatives group has defected from Deutsche Bank to join JP Morgan in New York.
SAS appoints business development manager
Technology company SAS has appointed a new business development manager to oversee its risk management practice.
ABN Amro appoints global head of credit strategy
ABN Amro has appointed a global head of credit strategy from Dresdner Kleinwort Wasserstein (DrKW). Alison Miller joins to lead the bank’s four-strong team of credit and quantitative credit strategists.
Agencies postpone implementation of Central Data Repository
The Federal Financial Institutions Examination Council (FFIEC) Call Report Agencies (Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board and Office of the Comptroller of the Currency) have postponed the implementation of the new…
Dominion agrees price for USGen assets
Virginia-based energy producer Dominion looks set to acquire three power plants from Maryland-based USGen New England for $656 million. However, an auction process is due to take place before the deal closes to ensure no other bidders are willing to top…
Weather Board of Trade's Parker joins NIF
Dan Parker, formerly chief executive of Atlanta-based Weather Board of Trade (WBOT), has joined NIF Weather Risk Management, a division of New York-based insurance holding company NIF Group. He plans to use a weather index originally developed for use by…
Op risk qualification launched in UK
The Securities Institute, a trade association, and consultants Ernst & Young have created a formal operational risk qualification for UK professionals.
CCX and IPE team up to offer EU emissions contracts
The Chicago Climate Exchange (CCX) and the International Petroleum Exchange (IPE) today signed an agreement to list cash and futures contracts in European Climate Exchange carbon financial instruments (ECX CFIs) on the IPE. Greenhouse gas emissions…
Wachovia expands Calypso use to energy
US financial group Wachovia Corp is to expand its use of the Calypso system to include energy derivatives. Wachovia began trading oil and gas in February.
SunGard acquires ASP pioneer Kiodex
SunGard has acquired New York based Kiodex, a supplier of web-based risk management, financial reporting, FAS 133 compliance and market data solutions for companies exposed to commodity price risk.
CME hires ex-UBS executive
The Chicago Mercantile Exchange (CME) has appointed Michael Kobida as director of financial management at the CME Clearing House for futures contracts, reports RiskNews' sister publication, Dealng With Technology .
ABN Amro wins China derivatives licence
ABN Amro last week joined the elite group of foreign banks authorised to trade foreign exchange derivatives in China after winning a licence from regulator the China Banking Regulatory Commission, reports RiskNews’ sister publication, FX Week .
NAB to reopen options desk
National Australia Bank (NAB) hopes to reopen its currency options desk in the "near term", said chairman Graham Kraehe last week, reports RiskNews' sister publication, FX Week .