News
NYBOT appoints new CEO
The New York Board of Trade (NYBOT) has appointed its chairman, Charles Falk, to be its new president and chief executive officer (CEO). Falk has been acting in the position since the resignation of the previous CEO, Mark Fichtel, in April 2002.
IDEAglobal moves into credit derivatives
IDEAglobal, a Singapore-based market research company best known for its fixed-income commentary, is moving into credit derivatives.
Ferc says clearing house cooperation would boost energy sector
Increased co-operation among energy clearing houses in the US would help ‘jump-start’ the sector’s recovery, according to Lee-Ken Choo of the Federal Energy Regulatory Commission.
MMS launches one-stop credit service
Market data provider MMS International launched a real-time credit and derivatives commentary service last week, its first new service in five years.
Caruana defends Basel Committee on SMEs to European parliament
Basel Committee for Banking Supervision chairman Jaime Caruana strongly defended the group's proposals for credit risk weightings for loans to small and medium-sized enterprises (SMEs) to the audience at a EU parliament workshop on the subject yesterday…
DrKW appoints two to short-term equity products group
Dresdner Kleinwort Wasserstein (DrKW) has made two appointments within its short-term equity products group.
Bankgesellschaft Berlin picks Trema
Bankgesellschaft Berlin (BGB) has selected the French-based financial software services provider, Trema, to help streamline the German bank’s operations.
Integral names Liedberg as director of North American sales
Integral Development has hired Brian Liedberg as director of North American sales. Liedberg joins Integral from Cognotec Americas, where he led marketing of the company’s trading services.
RiskMetrics sees demand growing for ASP platforms
The adoption of application service provider (ASP)-based financial risk management systems is increasing rapidly, according to RiskMetrics.
Prebon Marshall and Swapstream agree to jointly promote swap and OTC trading platform
Inter-dealer broker Prebon Marshall Yamane has formed a strategic partnership with London-based Swapstream, to promote the trading platform to its customers.
ISE moves closer to equity index options trading
New York-based electronic equity options market, the International Securities Exchange (ISE), has stepped up its attempts to go head-to-head with the Chicago Board Options Exchange (CBOE) in trading equity index options by unveiling its first product,…
Standard & Poor's enters portfolio risk modelling
Standard & Poor's (S&P) Risk Solutions has launched a portfolio risk tracker model. The model covers both credit and market risk, which should allow banks to calculate their economic capital and perform risk assessments across the full range of risks…
EU Parliament to hold "Basel II and SMEs" workshop, publish paper
The European parliament is holding a workshop, Basel II and the consequences for SMEs, on July 10.
Trésor unlikely to resume swaps programme in near future
The French debt management agency, the Agence France Trésor, will not resume its swaps programme in the current market conditions, said Sylvain de Forges, the agency's Paris-based chief executive.
Microsoft drops stock option compensation
US software company Microsoft has broken ranks with other leading technology providers by announcing its intention to end employee compensation using stock options.
JP Morgan Chase and Morgan Stanley to launch Trac-x Europe options
JP Morgan Chase and Morgan Stanley are launching options on their Trac-x Europe credit default swap index this afternoon.
FASB unlikely to delay FIN 46, says CSFB
The US Financial Accounting Standards Board (FASB) is unlikely to delay the introduction of financial interpretation number 46 (FIN 46), the consolidation of variable interest entities (VIEs), according to the accounting and tax research team at Credit…
Quantitative impact studies will go regional
The Basel Committee on Banking Supervision does not plan on conducting further quantitative impact studies (QISs) to explore the effect that the new Basel II framework will have on the international banking industry, according to Patricia Jackson,…
New EU supervisors group to be created for CAD implementation
The EU Commission has indicated the need for the creation of "a new high-level forum of European supervisors" to help implement the EU's capital adequacy directive (CAD) by the 2006 deadline evenly across the region. The new draft CAD also requires…
FSA publishes Basel II/CAD implementation consultation
The UK's Financial Services Authority published its 'Report and first consultation on the implementation of the new Basel and EU Capital Adequacy Standards' in early July.
FASB unlikely to delay FIN 46, says CSFB
The US Financial Accounting Standards Board (FASB) is unlikely to delay the introduction of financial interpretation number 46 (FIN 46), the consolidation of variable interest entities (VIEs), according to the accounting and tax research team at Credit…
BNP Paribas beats SG for ZCM assets
French bank BNP Paribas has entered the final stages of negotiations to purchase about 140 structured transactions linked to funds investments from Zurich Capital Markets (ZCM), a division of Swiss insurer Zurich Financial.
Eurex to extend terms on Swiss and German equity options
International derivatives exchange Eurex plans to extend the terms of certain German and Swiss equity options.
Fed publishes ANPR preview material
The US Federal Reserve has published material on its website that gives readers a preview of what can be expected from the forthcoming advance notice of proposed rulemaking (ANPR), which has a planned late-July release date.