News
Europe unprepared for emissions trading
The European Emissions Trading Scheme (ETS) will not begin on time, and will fail to deliver the promised results, according to a survey by Ernst & Young.
WRMA elects new president
The Weather Risk Management Association (WRMA) today said that its vice president, Brian O’Hearne, has stepped up to serve as the association’s president. O’Hearne is also president and chief executive of Kansas City-based GuaranteedWeather.
Banc of America Securities expands in credit derivatives
Charlotte-based Banc of America Securities has hired Peter Nguyen from Credit Suisse First Boston (CSFB) as head of credit derivatives specialist sales. He will lead the credit derivatives sales effort to hedge funds, banks and other frequent credit…
National Australia Bank makes two appointments in Asia
National Australia Bank (NAB) has made two senior appointments in Asia. Matthew Blackwell arrives as head of structured products for Asia, and Shinya Fukumoto joins as director and head of capital markets, Japan.
Poste Italiane to sue JP Morgan Chase
Two months after Risk broke the story of Poste Italiane’s derivatives losses as a result of exotic transactions with JP Morgan Chase and other banks, the large Italian state-owned post and financial services company is suing the US bank for €40 million.
Publication date for Basel II confirmed
A source within the Basel Committee on Banking Supervision has confirmed that the final Basel II document will be published on June 26.
MEPs critical of the EU CAD return to parliament
In the face of one of the most difficult election environments for European parliamentary elections, two MEPs will be returning who have historically led the anti-Basel movements in that legislative body.
RBS expands global derivatives team
The Royal Bank of Scotland has made several new appointments within its derivatives trading and marketing business.
Senator releases Enron evidence
US Senator Maria Cantwell (Democrat, Washington) and Washington State’s Snohomish County Public Utility District (PUD) yesterday released financial documents and audiotapes that allegedly show how Enron illegally obtained at least $1.1 billion in profits…
Snow hails CME's China deal
The Chicago Mercantile Exchange (CME) has forged a ground- breaking deal with a central bank-sponsored foreign exchange trading platform in China, in a move hailed by US government officials as a crucial step towards renminbi flexibility, reports…
Central banks seek more data on credit derivatives
The Bank for International Settlements (BIS) is going to ask dealers in the credit derivatives market to supply more information about their business, including information on who they are dealing with.
Trio plans swaps platform for Europe
European inter-dealer platform vendor MTS, electronics swaps platform provider ATFox and inter-dealer broker HPC have announced that they have reached a strategic agreement to create a new electronic swaps platform for the European market, reports…
Bank SinoPac expands exotics trading
Taiwan-based Bnk SinoPac is on the look-out for traders to bolster its newly launched exotic options trading business in Taipei.
CityNet Conversation Checker adds forex options
City Networks has added vanilla currency options to its CityNet Conversation Checker, reports RiskNews’ sister publication, FX Week .
GL Trade to snap up Iris
Paris-based electronic trading technology provider GL Trade has reached agreement to buy Dutch company Iris Group, a firm specialising in options pricing tools.
Nord Pool entices Russian companies
A delegation of Russian companies yesterday met with Nord Pool to discuss the possibility of becoming members of the Oslo-based electricity exchange.
Credit derivatives processing is now faster, says Isda
Financial institutions significantly improved their credit derivatives processing in 2003, according to the International Swaps and Derivatives Association's (Isda's) '2004 Operations Benchmarking Survey'.
Calypso expands trading software services
San Francisco-based software provider Calypso Technology has enhanced its credit derivatives trading services to manage increased trading volumes and additional instruments.
OTC weather trades fall; exchange trades rise
The weather derivatives market is shifting from an over-the-counter market to an exchange-traded one, according to results from a 2004 Weather Risk Management Association (WRMA) survey.
OTC weather trades fall; exchange trades rise
The weather derivatives market is shifting from an over-the-counter (OTC) market to an exchange traded one, according to the 2004 Weather Risk Management Association (WRMA) survey.
IPE hires Fredrik Voss
Fredrik Voss, one-time chief executive of the UK power Exchange, is to join the London-based International Petroleum Exchange (IPE), as director of market development.
Danish state-owned energy company signs up to Allegro
The Danish State-owned energy company, Dansk Olie og Naturgas (Dong), has signed up to use Allegro Development’s trading and risk management software for its natural gas operations.
Nymex chief quit over pay cut
Bo Collins' decision to resign as president of Nymex was triggered by the board cutting his compensation package, said a source at Nymex.
Nymex fires opening shots for ICE
Nymex has made a $150 million cash bid for the Atlanta-based Intercontinental Exchange (ICE), and would also pay $67 million to shareholders of the International Petroleum Exchange (IPE), according to a senior Nymex official.