News
Icap will not pay Prebon’s £2m damage claim
Icap has no intention of recognising rival broker Prebon’s £2 million claim for damages after a dispute over the employment of three Icap coal brokers, according to its director of corporate affairs Mike Sheard.
OneChicago hires project co-ordinator
OneChicago, the joint venture between the Chicago Board of Trade, the Chicago Mercantile Exchange (CME) and the Chicago Board Options Exchange (CBOE) to trade single-stock futures, has hired Mark Esposito as a project co-ordinator.
Barcap adds in equity derivatives
UK-based investment bank Barclays Capital has made two appointments to its equity derivatives team in London.
Icap will not pay Prebon’s £2m damage claim
Icap has no intention of recognising rival broker Prebon’s £2 million claim for damages after a dispute over the employment of three Icap coal brokers, according to its director of corporate affairs Mike Sheard.
Wachovia expands structured credit team
Wachovia Securities, the corporate and investment banking arm of Charlotte-based financial services company Wachovia Corporation, has recruited five people to work within the structured credit products group.
Bank of America reoganises credit research
Bank of America is reorganising its credit research team and will now cover European and global credits from the US.
ScotPower’s £400m dollar hedging boon
International energy firm ScottishPower said last week it made £400 million ($728 million) from hedging its US dollar revenues.
DrKW adds to capital markets sales team in Singapore
Dresdner Kleinwort Wasserstein (DrKW), the investment banking arm of Dresdner Bank, has hired Patrick Bei as a director in its capital markets sales team in Singapore.
Icap enters electronic futures fray
UK-based interdealer broker Icap will start electronic trading of exchange-listed futures contracts on its BrokerTec platform by the beginning of the fourth quarter, said Icap officials, reports Risknews’ sister publication, Trading Technology Week .
Morgan Stanley set to acquire Barra
Morgan Stanley Capital International (MSCI), a provider of equity, fixed-income and hedge fund indexes based in New York, will acquire California-based technology company Barra within 120 days, for approximately $816.4 million, or $41.00 a share, the…
BNP unit pushes STP for forex
BNP Paribas Securities Services is using CheckFree’s straight-through processing (STP) module to scale its processing services for foreign exchange transactions, reports Risknews’ sister publication, Trading Technology Week .
Regulators not keen to define "significant" international subsidiary
It is highly unlikely that Basel II regulators will have a precise definition of a "significant international subsidiary" in order to make it easier for internationally active banking organisations to determine which of their subsidiaries can calculate…
Norway's Statoil sets up emissions trading unit
Norwegian energy company Statoil has formed a unit for trading carbon dioxide emissions. The Oslo-based firm said: “The Norwegian emissions trading regime will govern Statoil’s involvement in the purchase and sale of carbon quotas.”
ESB wins Esso price battle
A high court judge has rejected claims by Esso it should be allowed to raise the price of gas supplied to Ireland’s Electricity Supply Board (ESB) on the basis of prices reported in the Heren Report .
Reuters names treasury head
Reuters has named Mark Robson its global head of treasury and fixed income, during a year when the UK company has placed the development of its treasury business as a high priority.
SunGard buys Derivatech
Front Capital Systems, the Swedish subsidiary of SunGard, has bought FX options software vendor Derivatech.
Growth in credit derivatives at 29%
Notional volumes in the credit derivatives market now stands at US$3.58 trillion, representing year-over-year growth of 29%, according to trade body the International Swaps and Derivatives Association.
New clearing system for Nordic market
Nord Pool Clearing, the clearing organization for the Nordic power exchange Nord Pool, has launched a new clearing system for the electricity derivative market. OM Technology is the system provider.
Derivatives risks overstated, say academics
The majority of finance professors at the world’s top business schools believe the risks of using derivatives have been overstated, according to the International Swaps and Derivatives Association.
IAS39 amended to allow for macro hedging
Controversial International Accounting Standards Board (IASB) proposals for the marking-to-market of derivatives, known as IAS39, are to be amended to allow for 'macro hedging'.
Mass migration for credit analysts
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