News
Basel II may prompt mortgage market consolidation
The Tower Group, a US-based consultancy, has just published a report that says the Basel II capital Accord may prompt the consolidation of mortgage lenders in both the US and EU markets, and improve pricing in mortgage instruments.
RWE deploys Trema to integrate treasury and asset management operations
German utility powerhouse RWE plans to extend its straight-through processing (STP) capabilities across its global subsidiaries using front, middle and back office integrated software from Swedish technology company Trema.
Meff launches Spanish central counterparty for repos
Meff, the Spanish derivatives exchange, plans to act as a central counterparty for government bond repurchase agreements (repos), following a change in Spanish finance law.
AIG hires risk manager in New York
Paul Stubbs will join AIG Trading Group in Greenwich, Connecticut, as a vice-president in foreign exchange and commodity risk management. He will report to Mark Balfan, senior vice-president and global head of market risk management.
Basel II may prompt mortgage market consolidation
The Tower Group, a US-based consultancy, has just published a report that says the Basel II capital Accord may prompt the consolidation of mortgage lenders in both the US and EU markets, and improve pricing in mortgage instruments.
Mizuho takes FNX for foreign exchange options
Mizuho Tokyo has upgraded to release 4.4 of FNX’s Sierra System for FX options trading. The new release has faster algorithms and architecture to accommodate Mizuho’s high volumes, FNX said.
Tiffe to launch long-term interest rate futures
The Tokyo International Financial Futures Exchange (Tiffe) plans to launch long-term interest rate futures by May, despite a fall-off in interest for the exchange's short-term rates contracts.
Ong moves into academia
Former chief risk officer for the Americas at Credit Agricole Indosuez, Michael Ong, has moved into academia with a full professorship and directorship on the finance program at the Illinois Institute of Technology in Chicago.
HSBC appoints investment banking and markets co-heads
HSBC last week announced the appointment of Stuart Gulliver as co-head of the corporate, investment banking and markets business (CIBM), responsible for foreign exchange, fixed income, syndicated loans, structured credit, precious metals, equities and…
DataSynapse adds IBM functionality
New York-based technology vendor DataSynapse has expanded its LiveCluster service that provides on demand computing power to be able to use IBM’s eServer zSeries mainframe computers.
CBOT signs on for Radianz services
The Chicago Board of Trade (CBOT) has signed a three-year deal with Radianz to provide an outsourced IP network to deliver its real-time data, CBOT and Radianz officials say.
Chinese derivatives regulations expected soon, say bankers
The Chinese central bank is expected to publish new regulations within the next few months aimed at easing tough restrictions in the country's derivatives market, say bankers.
Japan credit spreads tighten as Iraqi conflict draws to a close
Credit protection on Japanese names continued a tightening trend this week, on the back of positive sentiment globally with the war in Iraq nearing a close and the absence of negative news in the domestic market.
Chinese derivatives regulations expected soon, say bankers
The Chinese central bank is expected to publish new regulations within the next few months aimed at easing tough restrictions in the country’s derivatives market, say bankers.
Restructuring debate will rage on after CP3, says Munro
The Basel Committee's widely anticipated ditching of restructuring as a required credit event for capital relief in its forthcoming third consultation paper on Basel II, will not bring to an end the heated debate between hedging banks and investors over…
Principia expands its credit functionality
Principia Partners, a Jersey City-based risk management technology vendor, said it has enhanced the credit derivatives capability of its Principia System front- to back-office product.
RBS expands Italian securitisation team
The Royal Bank of Scotland (RBS) has appointed Fulvio Pelargonio as director of securitisation, based in Milan.
Restructuring debate will rage on after CP3, says Munro
The Basel Committee’s widely anticipated ditching of restructuring as a required credit event for capital relief in its forthcoming third consultation paper on Basel II, will not bring to an end the heated debate between hedging banks and investors over…
Goldman Sachs re-enters power generation sector
Investment bank Goldman Sachs is re-entering the physical power market for the first time in two years with the purchase of a 940 megawatt natural gas plant from troubled energy company El Paso Merchant Energy.
US-UK regulators clash over Basel II implementation
Last week, senior executives from the US Federal Reserve and the UK Financial Services Authority clashed over the differing implementation plans for the Basel Accord revisions in a pair of speeches delivered to two financial industry trade organization…
Duke exits North America prop trading
Duke Energy has closed its proprietary trading business at its North American merchant energy businesses, Duke Energy North America (DENA) and Duke Energy Merchants (DEM). The move by the Charlotte, North Carolina-based energy company was not entirely…
SAS launches new risk management practice in the UK
SAS, a North Carolina-based risk technology and analytics company, has set up a new UK risk management practice for enterprise risk services. It will focus on helping organisations in the financial services and energy sectors identify and understand…
AXA Investment Managers hires CDO head
AXA Investment Managers (AXA IM) has appointed Laurent Gueunier as head of investment-grade collateralised debt obligations (CDOs).
Eurex boosts new US exchange plans with ex-Goldman Sachs hire
European derivatives exchange, Eurex, has hired Michael McErlean to join the the Swiss-German exchange's US management team in preparation for the launch of a registered US exchange.