News
Isda AGM: Japanese derivatives slowdown due to poor health of financial intermediaries, says Broadman
A slowdown in outstanding derivatives volumes in Japan over the last few years can be partly attributed to the poor financial health of the country’s intermediaries and banks, according to Bart Broadman, vice-chairman and head of credit and rate markets…
Isda AGM: Two new directors elected to Isda board
The International Swaps and Derivatives Association has elected two new directors to its board during its annual general meeting in Tokyo today.
Dresdner hires marketer for Korea market
German investment bank Dresdner Kleinwort Wasserstein has hired Charles Jo as director and marketer in its capital markets sales and marketing team.
Majority of major corporates using derivatives - Isda
An overwhelming majority of the world’s largest 500 companies use derivatives to hedge their risks, according to the first corporate derivatives survey by the International Swaps and Derivatives Association (Isda), published at the association’s 18th…
Risk Europe 2003: Still no “best practice” for integrating economic and regulatory capital, says Buerger
There is still no “best practice” approach to implementing an effective risk management framework that integrates economic and regulatory capital requirements, Peter Buerger, head of group risk control at Germany’s Commerzbank, told delegates attending…
Barra to lay off 9% of workforce
Barra, the Berkeley, California-based risk management technology vendor, is to reduce its workforce by approximately 9%, from 519 employees to 470 employees worldwide.
Isda AGM: BOJ reiterates intention to purchase corporate ABS
The Bank of Japan (BOJ) today reiterated its intention to buy asset-backed securities from small and medium sized companies in an unprecedented move to remedy the ills of the Japanese financial system.
FSA and BBA lose key staff
LONDON - Both the Financial Services Authority (FSA), the UK's financial regulator, and the British Bankers Association (BBA), a major industry association, have lost key operational risk staff.
Risk conference panellists issue warnings on US Basel position
Panellists on a roundtable devoted to the subject of the revisions to the Basel capital accords issued dire warnings about the implications of the US decision not to implement Basel II in its full form, but rather to select about 10 "internationally…
Op risk database in tug-of-war
Two operational risk management firms are claiming ownership of the same external loss database.
Risk Europe 2003: Industry worried about ‘level playing field’ implementation of Basel II
Bankers and their banking associations are increasingly concerned that the new bank capital Accord Basel II and its European equivalent CAD3 may not be implemented in a consistent manner in different national jurisdictions. These fears were expressed…
Euronext.Liffe to lower trading fees on French equity options
Trading fees on Euronext.Liffe’s French equity options will fall by 17-50% when trading migrates to LiffeConnect on April 14, the derivatives exchange claimed.
Risk Europe 2003: Reuters signs deal with NumeriX for exotic derivatives libraries
Reuters has signed a deal with NumeriX, the US derivatives analytics company, to offer a suite of exotic derivatives pricing libraries for customers of its Kondor+ flagship risk management system. The deal was unveiled at Risk 's eighth annual Risk…
Risk Europe 2003: Government debt not subject to traditional risk management requirements, says de Forges
Government debt, while affected by volatility risk in particular, nevertheless cannot be subject to the risk management approaches and constraints of other businesses, according to Sylvain de Forges, chief executive of Agency France Tresor, the French…
RBC Centura appoints chief risk officer
RBC Centura, a US retail banking subsidiary of Royal Bank of Canada, has appointed Andrea Bolger as its new chief credit and risk officer. She replaces Graham McLachlan, who has relocated to Vancouver as RBC’s regional president.
Trichet calls for more transparency, especially for credit derivatives
Jean-Claude Trichet, governor of the Bank of France, said transparency is essential to prevent a "herd mentality" in the financial market that can create artificial swings in market prices.
Hong Kong banks ready SARS contingency plans
Banks are readying contingency plans for FX trading in Hong Kong, as a potentially fatal pneumonia virus grips the trading centre.
Standardised approach may receive op risk charge cut, says ECB official
The operational risk charge related to the Basel II 'standardised approach' may be cut in the third consultative paper (CP3) due for release next month by the Basel Committee on Banking Supervision, according to Panagiotis Strouzas, a senior expert in…
Trichet calls for more transparency, especially for credit derivatives
Jean-Claude Trichet, governor of the Bank of France, said transparency is essential to prevent a “herd mentality” in the financial market that can create artificial swings in market prices. During a keynote address at the Professional Risk Managers’…
Standardised approach may receive op risk charge cut, says ECB official
The operational risk charge related to the Basel II ‘standardised approach’ may be cut in the third consultative paper (CP3) due for release next month by the Basel Committee on Banking Supervision, according to Panagiotis Strouzas, a senior expert in…
More FX traders for Bank One
Bank One hired two FX traders in March, continuing a build-up in spot and options trading begun earlier this year.
Swapstream and SwapsWire join forces for interest rate swaps processing
Swapstream, a trading platform for swaps and over-the-counter derivatives, has reached an agreement to interface with SwapsWire, the industry-backed integrated electronic processing network for derivatives. Deals executed on Swapstream by banks and…