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Reshuffle at CSFB
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Who rates the raters?
rating agencies
Back-up systems key to blackout recovery
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Japan CDOs of ABS set for growth
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Mark-it set to sign 12 dealers to Red in next fortnight
UK credit data company Mark-it Partners expects to sign up between 12 and 20 major credit derivatives dealers to use its credit reference entity database, Red, within the next two weeks.
Deutsche Bank to use Isaac Technology credit risk system
Deutsche Bank has signed up to use US-based Fair Isaac Blaze Decision System software to build an enterprise-wide credit decisioning and risk monitoring solution, the company announced this week.
Euronext profits from derivatives growth
Pan-European exchange Euronext reported strong results today for second-quarter 2003, boosted by increased revenues in derivatives trading.
Isda and EEI collaborate on Power Annex
The New York-based International Swaps and Derivatives Association (Isda) and US trade body the Edison Electric Institute (EEI) published a North American Power Annex to the Isda Master Agreement in August.
BoA hires two for European structured products group
Banc of America Securities has appointed Andrew Jackson as a European structurer in its global structured products group, with responsibility for originating and structuring pooled and single-name structured credit products.
HHEx to launch China index future by year-end
The Hong Kong Exchanges and Clearing (HKEx) plans to introduce a new China index futures contract before the end of the year.
WestLB dumps top systems for Summit
The global financial markets group of Düsseldorf-based Westdeutsche Landesbank (WestLB) has selected New York-based transaction processing technology company, Summit Systems, for a major consolidation of its systems environment. The integrated system…
Merrill Lynch beefs up Asia-Pacific debt team with new hires
Merrill Lynch has hired Sibo Feng as director in its global credit products group to focus on correlation trading. Feng, who will be based in Tokyo, was previously with Bank of America.
TriOptima completes biggest ever swap tear-up
Swedish financial technology company TriOptima has completed the largest ever swap termination of 11,446 swaps totalling $987 billion.
HSBC hires three for structured products business
HSBC has bolstered its structured products business in Asia, with the addition of new hires from three of its regional rivals, Citigroup, Deutsche Bank and JP Morgan Chase.
Onus now on dealers to guard against currency derivatives scams
Under new rules that become effective on December 1, dealers will have to take greater responsibility for the actions of unregulated individuals that use them as counterparties in off-exchange currency derivatives transactions with investors.
DTCC signs collaboration agreement withTaiwanese counterpart
The New York-based Depository Trust & Clearing Corporation (DTCC) and the Taiwan Securities Central Depository (TSCD) have signed an agreement to co-operate in their business activities, including sharing information on risk management.
BoA: single-tranche CDOs compensate well for their risks
The additional spread available from single-tranche collateralised debt obligations (CDO) – compared to other portfolio credit products - more than compensates investors for the particular risks associated with tranched products, claims Bank of America …
CBOT partners with Taiwan Futures Exchange
The Chicago Board of Trade (CBOT) announced that it has signed a memorandum of understanding with the Taiwan Futures Exchange to share information on market and product development and potentially work toward developing markets for new derivative…
IIB Bank selects SAS for Basel II credit risk compliance
Ireland-based IIB Bank, a fully owned subsidiary of KBC Bank, has licensed risk management software from North Carolina-based data management software vendor SAS to meet Basel II credit risk compliance.
European Commission welcomes IASB compromise
The European Commission has welcomed yesterday’s International Accounting Standards Board decision to try to allow for ‘macro-hedging’ as part of proposed new accounting standards, due to come into place in 2005.
ABN Amro targets exotic credit derivatives with senior hire
ABN Amro has hired Richard Whittle from UBS as global head of exotic credit derivatives - a new role in the bank’s financial markets business.
Bloomberg hires Hagan for new quant team
Pat Hagan – a former managing director in Bear Stearns’ fixed income research group – has joined Bloomberg’s nascent quantitative research and development group.