News
Spitzer calls for greater institutional investor involvement
New York Attorney General Elliot Spitzer, widely known on Wall Street for having led recent legal attacks on conflicts of interest between underwriting and stock analysis at investment banks, told attendees of the PRMIA 2003 summit today that…
US foreign exchange dealers revise operational risk standards
The Foreign Exchange Committee, a 20-dealer industry liaison group to the New York Federal Reserve Bank, has made new recommendations for the exercise of in-the-money foreign exchange options in a revision to its 1996 forex operational risk best…
Euronext.liffe struggles with regulatory harmony
Regulation from continental Europe has acted as a "straightjacket" around Euronext.liffe’s efforts to bring all its derivatives products together on a single electronic trading platform, according to Nick Weinreb, head of group regulation at Euronext…
Goldman Sachs snares Goh
Albert Goh, JP Morgan Chase’s head of equity derivatives origination for Asia ex-Japan, has been lured away from the bank to join rival Goldman Sachs.
Risk USA speakers call for loan commitments to be marked to market
Bank loan commitments should be marked to market, according to speakers attending the first day of Risk magazine's ninth annual Risk USA conference in Boston today.
Hancock calls for more enterprise-wide risk management
Peter Hancock, the former chief financial officer and head of risk management at JP Morgan, who now runs financial boutique Integrated Finance, believes risk managers should spend more time developing enterprise-wide risk systems that can help top…
Derivatives concentrated in largest US banks, says OCC
Seven banks in the US account for almost 96% of the total notional amount of derivatives in the commercial banking system, the Office of the Comptroller (OCC) of the Currency has said in a report.
Carr kicks off quant presentations at Risk USA in Boston
Peter Carr, recipient of Risk 's 2003 quant of the year award, discussed the pricing and hedging of volatility derivatives in the first of a series of quantitative modelling talks at Risk USA today.
US pension problems on a par with S&L crisis, says Hancock
The burgeoning deficit in defined benefit pension plans in the United States has reached such proportions that only the US government can bail out the sector, said Peter Hancock, former chief financial officer at JP Morgan and president of financial…
Spitzer calls for greater institutional investor involvement
New York Attorney General Elliot Spitzer, widely known on Wall Street for having led recent legal attacks on conflicts of interest between underwriting and stock analysis at investment banks, told attendees of the PRMIA 2003 summit today that…
Banks not ready for advanced IRB, says Trema speaker
Many international investment banks are not yet ready to implement the advanced internal-ratings-based approach to measuring credit risk, according to a controversial speaker at this week's Trema World Forum in Monaco.
US foreign exchange dealers revise operational risk standards
The Foreign Exchange Committee, a 20-dealer industry liaison group to the New York Federal Reserve Bank, has made new recommendations for the exercise of in-the-money foreign exchange options in a revision to its 1996 forex operational risk best…
DrKW appoints new global head of equity products
Dresdner Kleinwort Wasserstein (DrKW), the investment banking arm of Dresdner Bank, has appointed David Wenman as global head of equity products. Wenman moves from Easy2Trade, the electronic online broker, where he was chief executive.
Freddie Mac fires COO
US government-sponsored mortgage financing company Freddie Mac has terminated the employment of its chief operating officer, David Glenn, it was announced today.
SG appoints new head of equity sales and trading
SG, the investment banking arm of Société Générale, has appointed Jacques Ripoll – who was in charge of the equity financing group within equity derivatives and also the hedge fund sales group – as head of equity sales and trading.
Numerix launches CompatibL Technologies
New York-based analytics provider Numerix is forming a new company that will seek to accelerate definition and adoption of derivatives systems interoperability standards.
Weather derivatives notional volumes fall by $100 million
The Weather Risk Management Association (WRMA), the international trade organisation of the weather derivatives industry, yesterday said that the notional value of weather derivatives contracts fell by $100 million from last year’s figures.
Japan electronics finish the week off their highs
The cost of credit protection on Japanese electronics companies ended the week off their highs, as market participants finished re-adjusting portfolios and protection sellers re-emerged in the market.
Korea’s Woori Bank installs Reuters’ Kondor+
Korea’s Woori Bank, the country's second largest bank, has signed an agreement with Reuters to use Kondor+ as its risk management tool for derivatives and bond transactions.
Banks not ready for advanced IRB, says Trema speaker
Many international investment banks are not yet ready to implement the advanced internal-ratings-based approach to measuring credit risk, according to a controversial speaker at this week's Trema World Forum in Monaco.
CSFB debuts Cindi
Credit Suisse First Boston (CSFB) has launched a pair of credit default swap indexes called the Credit Indexed-Note Default Index (Cindi).
Securitisation will not be damaged by Basel II, says Mercer Oliver Wyman
Securitisation and related forms of credit risk transfer are unlikely to suffer in the long-term under the Basel II proposals, according to a report published today by financial and risk management consultancy, Mercer Oliver Wyman.
Lehman to launch credit default swap indexes
Lehman Brothers plans to launch a number of credit default swap indexes covering the US, Europe and Japanese credit default swaps (CDS) market by July.
Napier Scott builds buy-side hiring capability
UK-based headhunter Napier Scott, which specialises in front-office capital markets hires, has expanded its buy-side capability by naming Simon Bell as a partner in its wealth management search division.