News
SAS extends risk software portfolio
North Carolina-based software provider SAS has extended its range of risk management systems by acquiring technology vendor RiskAdvisory. The Canada-based software company specialises in providing risk software to energy and utility companies.
Parmalat CDS spreads hit 47% after six-notch S&P downgrade
The cost of five-year credit protection on debt issued by Parmalat closed at 4,000bp/4,300bp above Libor today after rating agency Standard and Poor’s (S&P) cut the Italian dairy company’s credit rating to 'C' – its second-lowest rating.
Credit derivatives not yet helping banks' risk management, says S&P
Credit derivatives are not yet helping banks to hedge their risks, says a report from rating agency Standard & Poor’s.
The A-IRB approach must be changed, says FDIC study
Risk-based capital requirements for banks under Basel II would fall below the levels needed for current prompt corrective action (PCA) purposes, according to a new study by the Federal Deposit Insurance Corporation (FDIC).
SG to offer UK retail investors exposure to China
French investment bank SG, part of Société Générale, will offer UK retail investors exposure to the performance of Chinese equities from tomorrow with the launch of a new warrant linked to the Hang Seng index.
European corporate credit to remain fragile, says S&P
The creditworthiness of European companies and financial institutions is unlikely to recover significantly next year, rating agency Standard & Poor’s (S&P) said today.
WSS updates hedge accounting software
Wall Street Systems (WSS), the global treasury and capital management system provider, has launched a new module for its treasury engine to incorporate the most recent worldwide hedge accounting requirements. The new ‘hedge compliance module’ replaces…
Deutsche seeks new global markets head in Canada
Deutsche Bank is looking for a new head of global markets in Canada, according to RiskNews ' sister publication FX Week .
ING creates fixed-income hub in Singapore
Dutch financial group ING is centralising its Asia-Pacific fixed-income operations in Singapore.
SunGard MDS buys Fame
SunGard Market Data Services (MDS) has signed an agreement to acquire historical data and data management software vendor Fame Information Services.
Westpac expands foreign exchange sales
Dorene Mallon has joined Westpac in New York today as a senior vice-president in institutional foreign exchange sales. She reports to David Beale, global head of institutional sales at the Australian bank in London.
Malaysia requires price transparency, says Fitch
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Energy bill enters into Senate
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Technology news
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US Senate rejects energyderivatives legislation
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Shell, Total sign Saudi gas deal
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CRO appointments “sign of weakness” says study
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FirstEnergy to blame for US blackout, say reports
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TVA will go bust, say academics
US academics say that the Tennessee Valley Authority would be close to bankruptcy if it were not for the promise of a government bailout, reports Paul Lyon
Energy swaps
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SG enters HK retail hedge fund market
SG is looking to dispel some of the myths surrounding the dangers of hedge funds with the launch of its first hedge fund product aimed at Hong Kong’s retail investors.
Kamakura upgrades credit default prediction software
Hawaii-based risk technology vendor Kamakura has upgraded its default probability calculation software.