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Fimat's UK branch first to adopt Belzberg-CBOE system
Broker Fimat’s UK trading arm is the first European customer for the Hybrid Trading System (HyTS), a joint offering from Belzberg Technologies and the Chicago Board Options Exchange (CBOE), reports Risk's sister publication Trading Technology Week .
Ex-Deutsche Bank official set to join Currenex
John Farrell will join multi-bank foreign exchange portal Currenex in London in January as managing director for global institutions, reports Risk's sister publication FX Week .
UBS hires forex strategist in London
Mark McFarland has joined the foreign exchange strategy team at UBS in London as a senior strategist, a spokesperson for the bank told Risk’s sister publication FX Week .
Merrill Lynch selects SAS for OpRisk management and Sarbanes-Oxley compliance
Merrill Lynch, a leading financial management and advisory company, has selected software from SAS, a North Carolina-based software analytics company, to help manage its operational risk and continue compliance with the Sarbanes-Oxley Act, the new Basel…
CDO exposure to Parmalat €660 million, says Moody's
A total of 65 collaterised debt obligation (CDO) contracts have “a direct exposure on Parmalat or its relevant subsidiaries”, said rating agency Moody’s Investors Service.
ABN Amro builds in weather derivatives
ABN Amro has hired Henry Kus as director of weather and insurance derivatives. The Dutch bank said it had made the appointment in response to "rapidly increasing" investor demand for weather derivatives products.
Putnam invests $6.5 million in fund administrators
Derivatives Portfolio Management (DPM), a New Jersey-based fund administration outsourcing company, will receive a $6.5 million investment from Canadian investment bank Putnam Lovell NBF.
IASB issues revised standards for financial instruments
The International Accounting Standards Board (IASB) has issued revised versions of two standards, IAS 32 and IAS 39, which deal with the use of financial instruments.
Strong CDO market next year, says S&P
The pipeline of collateralised debt obligation (CDO) deals remains “extremely strong”, promising a busy start to 2004, especially for single-tranche, leveraged loan and CDOs of asset-backed securities (ABS) transactions, said credit rating agency…
IASB issues revised standards for financial instruments
The International Accounting Standards Board (IASB) has issued revised versions of two standards, IAS 32 and IAS 39, which deal with the use of financial instruments.
GFI to clear electricity trades through EEX
Interdealer broker GFI has entered a deal with the European Energy Exchange (EEX) to clear its over-the-counter electricity trades.
ABN Amro wins CLS mandate in India
ABN Amro has won the contract to provide continuous linked settlement (CLS) services to the Clearing Corporation of India (CCIL).
Complex issues must be resolved before Basel II can be implemented, says US regulator
Although the US remains committed to completing work on Basel II by mid-2004, many complex issues must be resolved before the new capital Accord can be implemented, according to John Hawke, the US Comptroller of the Currency.
Shrinking cost of foreign exchange options
The cost of buying currency options has come down only "moderately" for clients in recent weeks and months, said options specialists interviewed by Risk’s sister publication FX Week . But in terms of the increased risk protection they currently provide…
Commodities boost volumes on BarCap’s forex platform
Barclays Capital has enjoyed increased foreign exchange volumes on its white-labelled e-trading platform as a result of adding commodities earlier this year, a senior official told Risk’s sister publication FX Week .
Van der Moolen withdraws options business from Amex
Cohen, Duffy, McGowan (CDM), the options trading unit of Dutch financial services company Van der Moolen (VDM), is to resign from its role at the American Stock Exchange (Amex).
RiskMetrics' head of quant research joins Clinton Group
RiskMetrics' head of quantitative research, Allan Malz, has left to join New York investment company the Clinton Group, said a RiskMetrics spokesman.
Rabobank upgrades software for Basel II compliance
Dutch bank Rabobank has purchased risk management software from Ubitrade-Fermat to assist in its Basel II compliance.
Eurex cuts costs in bid to stimulate Finnish options trading
Frankfurt-based futures and options exchange Eurex intends to reduce transaction fees on Finnish equity options in a bid to boost trading volumes. Working with Finnish Exchange Hex Integrated Markets, the average trading cost would be reduced by more…