News
Dollar/yen break-out expected
Technical indicators suggest the dollar/yen exchange rate could be set to break out of the tight trading range it has been trapped in since June, says RiskNews’ sister publication, FX Week .
Royal Bank of Scotland appoints e-commerce business developer
The Royal Bank of Scotland (RBS) has transferred Clive Standish to its New York office as vice-president and e-commerce business developer, within the North America financial markets team.
Isda pushing bar codes for confirmations
The International Swaps and Derivatives Association is working on a new bar code standard to streamline the processing of trade confirmations across a variety of asset classes, according to RiskNews’ sister publication, Dealing With Technology .
Prebon transfers credit derivatives business to subsidiary
Prebon Marshall Yamane has recently transferred its credit derivatives business into a new subsidiary, Prebon Global Credit.
Tractebel opts for PowerCosts
Tractebel Energy Marketing, a subsidiary of energy company Tractebel, has signed up to use risk trading technology provided by PowerCosts Inc (PCI).
S&P raises Aquila rating
Standard & Poor's Ratings Services (S&P) has raised its corporate credit rating on energy provider Aquila to 'B-' from 'CCC+' and removed the rating from CreditWatch, where it was placed with developing implications on July 21, 2004. The outlook is…
Iberdrola moves to spread its influence in Europe
Spanish utility Iberdrola is taking steps to expand its trading and supply activities in Europe, particularly in Portugal, given that the joint Iberian power market is scheduled to open in March 2005.
Crosspoint Ventures bids $190 million for Anadarko Canada assets
Crosspoint Ventures, the US global private equity and venture capital firm, has submitted an offer of $190 million to buy one of Canada's largest oil and gas operations from Anadarko Canada Corp., a subsidiary of Houston-based Anadarko – the eighth…
PNC Financial Services appoints market risk officer
Pittsburgh-based PNC Financial Services has appointed Aleem Gillani to the position of vice-president and chief market risk officer, based jointly in New York and Pittsburgh.
Deutsche makes Tokyo appointment
Deutsche Securities, a subsidiary of Deutsche Bank, has promoted Henry Ritchotte to head of global markets, Japan.
Bank of America hires in Japan
Bank of America has made two new appointments in Japan as part of an effort to boost its investment and risk management businesses in the country.
GFI launches electronic credit derivatives trading platform
Inter-dealer broker GFI has completed the first stage of its rollout of CreditMatch, its electronic trading platform for credit derivatives.
Outsourcing paper published
The Joint Forum and the International Organization of Securities Commissions published Outsourcing in Financial Services in early August.
Deutsche Bank makes appointments in structured and investment products team
Deutsche Bank has made two appointments to its structured and investment products team, part of the global equities department, in its New York office.
LCH Clearnet launches OTC clearing for UK gas and power
London-based clearing house LCH Clearnet today launched its new clearing service for over-the-counter (OTC) contracts for UK national balancing point natural gas and UK peak and baseload power contracts.
Isda readies inflation documentation
An increase in the use of inflation derivatives has prompted the International Swaps and Derivatives Association to set up a task force to develop standardised documentation for transactions. The first draft of the documentation has been completed and…
China's Tiantong Asset Management launches principal guaranteed fund
China’s Tiantong Asset Management has launched a three-year principal guaranteed fund, the third guaranteed fund to be launched in the Chinese market.
China's Tiantong Asset Management launches principal guaranteed fund
China’s Tiantong Asset Management has launched a three-year principal guaranteed fund, the third guaranteed fund to be launched in the Chinese market.
ABN continues BNP raid
ABN Amro has hired five senior energy derivatives executives, two of whom join from BNP Paribas. The move comes just three months after the Dutch bank poached Wayne Harburn and Vincent Chevance from French rival BNP. The pair now serve as global head of…
ABN Amro expands global commodity derivatives team
Dutch bank ABN Amro has made five appointments to its global commodity derivatives team in both the London and New York offices.
Cantor Fitzgerald to spin off its global voice brokerage business
Cantor Fitzgerald will spin off its global voice brokerage business as a new company, BGC Partners, effective from October 1 this year.
Non-G10 countries to implement Basel II over 2007-09
South Africa has set January 1, 2008 as the implementation date for the new Basel Accord, also known as Basel II, according to Carel Oosthuizen, the head of Basel II implementation at the South African Reserve Bank.
Citi trades prompt MTS limits
Citigroup ignited a major market movement in the European government bond markets last week, prompting electronic execution platform provider MTS to implement temporary limits on orders, an industry source familiar with the situation told RiskNews’…
BNP Paribas snares Chicago sales head
BNP Paribas has hired Matthew Schultheis as director and head of sales for its Chicago office.