News
Algorithmics to launch Linux version of Algo Suite
Algorithmics of Canada, an enterprise risk management solutions provider, said today it will launch a fully supported Linux version of Algo Suite by the end of the third quarter of this year.
CA-Legend to distribute DSTi’s HiRisk product in China
Investment management software solutions provider DST International (DSTi) has selected Computer Associates-Legend Software (CA-Legend) of China to distribute its HiRisk product in that country.
GlobeOp grabs JP Morgan/Cygnifi fixed-income software
GlobeOp Financial Services, a risk management, operations and administration service provider to the global funds management community, has bought a risk reporting and valuation analytics library, developed by JP Morgan and its now-defunct technology…
US pushes agreement on carbon storage research
The US government has launched an international research and development programme to reduce power plant emissions by pumping carbon dioxide (CO2) into deep storage.
LNG may not fix gas supply problem
Despite its long-term promise, liquified natural gas (LNG) will only have a minimal impact on a significant US gas storage shortfall in the winter of 2003/2004, says Energy Security Analysis Inc (Esai), a Boston-based research firm.
Icap shuts London weather desk
Inter-dealer broker Icap exited the European weather and environmental derivatives market last month. It thereby joined the growing ranks of other market participants – including BNP Paribas, Aquila and Italian bank Intesa BCI – that have fled the…
Mirant raises prospect of bankruptcy
Energy company Mirant asked its bank lenders to approve a pre-packaged bankruptcy plan in June, suggesting the Atlanta-based company could be forced to file for Chapter 11 bankruptcy.
Credit risk models enhance link between credit and equity prices, say BIS
The growing use of credit risk models is helping to strengthen the link between credit and equity prices, said the Bank for International Settlements (BIS).
Cantor subsidiary files patent infringement suit
Interdealer-broker Cantor Fitzgerald’s trading technology subsidiary eSpeed has filed a patent infringement suit against electronic fixed-income trading platform BrokerTec, while separately a court case pertaining to alleged constructive dismissal…
Bear Stearns adds CDO evaluator to Pacre
Bear Stearns has added a high-yield collateralised debt obligation (CDO) pricing model to its price-adjusted credit risk evaluator (Pacre) product. The model is designed to calculate credit-adjusted spreads on individual CDO tranches.
Old Mutual Asset Management appoints head of risk management
Old Mutual Asset Management, the US asset management arm of financial services company Old Mutual, has hired Jeffery Howkins from Mellon Institutional Asset Management as its head of risk management and audit.
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Credit risk models enhance link between credit and equity prices, say BIS
The growing use of credit risk models is helping to strengthen the link between credit and equity prices, said the Bank for International Settlements (BIS).
EU finally publishes third CAD draft
After nearly a month of delays, the EU Commission finally published the fourth consultation on its capital adequacy directive (CAD) this afternoon.
Rolfe & Nolan names new chairman
UK derivatives back-office vendor, Rolfe & Nolan, has appointed John Hamer as its new chairman.
Deutsche Börse adds more fixed-income ETFs
Deutsche Börse has added three more bond exchange-traded funds (ETFs) as part of its XTF segment.
GASB issues new derivatives guidelines
The US Governmental Accounting Standards Board (GASB), a not-for-profit organisation that seeks to establish standards of financial accounting and reporting for state and local governmental entities, has issued new derivatives accounting guidelines for…
MSCI and Lyxor launch tradable hedge fund index
Morgan Stanley Capital International (MSCI), a provider of indexes for financial institutions, has teamed up with Lyxor Asset Management (Lyxor), a subsidiary of Société Générale specialising in structured funds and alternative investments activities, to…
AIG forex under merger threat
AIG Trading’s foreign exchange group faces an uncertain future, as parent company Connecticut-based American Insurance Group (AIG) prepares to merge its AIG Trading and AIG Financial Products subsidiaries, sources close to the firm told RiskNews ’ sister…
Polaris and State Street launch first ETF on Taiwan exchange
Taiwan’s Polaris International Securities Investment Trust and Boston-based State Street Global Advisors have launched Polaris Taiwan Top 50 Tracker Fund (TTT), the first exchange-traded fund (ETF) to be listed on the Taiwan Stock Exchange. Trading on…
EDX London to start trading on Monday
A new equity derivatives exchange, EDX London, will start trading Scandinavian equity derivatives on Monday.
Nasdaq pulls out of single-stock futures business
US electronic stock exchange Nasdaq has pulled out of its joint venture with Euronext.Liffe to create a market for single-stock futures.
SunGard upgrades ALM tool
SunGard Trading and Risk Systems, an operating group of US technology company SunGard, has released a new version of its asset and liability management (ALM) software, BancWare Convergence.
Reuters and GFI strike credit derivatives data partnership
Global information company Reuters has signed an exclusive deal with New York-based inter-broker GFI to provide GFI's credit derivatives data and Fenics credit pricing tools through Reuters 3000 Xtra, Reuters Bridgestation and Reuters Trader terminals.