News
Industry veteran quits CFTC
Jane Kang Thorpe, director of the division of clearing and oversight of the Commodity Futures Trading Commission (CFTC), will leave the US regulator later this month. She leaves to take up a post as general counsel for the Dubai Regional Exchange (DRI).
US legislators question Basel II effectiveness
The Financial Services Committee of the US Congress said today it is not convinced that the current proposals under Basel II will be able to reflect modern risk management practices and eliminate regulatory arbitrage opportunities.
Energy swaps
Oil
US Senate rejects energy derivatives legislation
The US Senate yesterday voted down proposed legislation that sought to impose tighter controls over energy derivatives trading.
Totem and PwC terminate six-year relationship
UK derivatives pricing service provider Totem Market Valuations and international accounting firm PricewaterhouseCoopers (PwC) have ended a six-year co-operation relationship.
Bear Stearns snares another top credit derivatives executive
Bear Stearns has made another senior hire in its rapidly expanding credit derivatives department. Alex Reyfman will join the US investment bank in New York as managing director and head of credit derivatives research.
CBOT moves to dismiss Eurex lawsuit
The Chicago Board of Trade (CBOT) has filed a motion to dismiss a Eurex lawsuit, which alleged the CBOT and the Chicago Mercantile Exchange had violated the US Sherman Antitrust Act.
TFS launches online coal exchange
TFS, the inter-dealer broker of over-the-counter derivatives and physical products, has launched a global web-based dealing platform for the coal markets.
Rabobank to implement SunGard credit risk software
Rabobank will implement Credient MC2, a credit risk measurement package owned by SunGard Trading and Risk Systems, as a cheaper alternative than investing in a new credit system infrastructure.
Wachovia hires institutional foreign exchange dealers
Wachovia Bank has hired two institutional foreign exchange dealers in London, as part of a global drive to increase its institutional forex business.
KWI unveils new energy risk system
KWI, the London-based energy risk technology company, today unveiled a newly developed suite of applications for multi-commodity trading and risk management. The system, known as K2, will replace KWI’s previous flagship product kW3000.
ABN Amro continues derivatives build-up
ABN Amro has hired two foreign exchange derivatives marketing managers in the latest stage of its ongoing derivatives business expansion.
US merger brings uncertain future for BoA/ Fleet FX staff
Bank of America’s (BoA) $47 billion purchase of FleetBoston Financial should bolster its regional US coverage in foreign exchange. But an overlap in jobs is unavoidable with a bank the size of BoA, analysts told RiskNews ' sister publication FX Week ,…
Hong kong consultancy Risk Latte plans South Korean volatility index
Risk Latte, a Hong Kong business consultancy, plans to launch a volatility index for South Korea in the first half of 2004, according to RiskNews ' sister publication Inside Market Data .
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