News
Eurex achieves another record-breaking month
Eurex, the international derivatives exchange, has reported record-breaking volumes for March 2003. More than 106 million contracts were traded last month, an increase of almost 20 million over the previous monthly high, set in October 2002. Year-on-year…
Korea opens retail market
New angles
Taiwan ABS market off to a quick start
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S&P and RDB launch SME CreditModel in Japan
Standard and Poor's (S&P) Risk Solutions and the Risk Data Bank of Japan (RDB), a credit risk data provider, have launched a new advanced default probability model that assesses the creditworthiness of small and medium-sized (SME) Japanese enterprises.
Tech glitch strikes CLS
The failed settlement of more than 20,000 Australian dollar and yen trades on the continuous-linked settlement (CLS) service last week was caused by multiple technical faults, senior CLS officials said.
S&P and RDB launch SME CreditModel in Japan
Standard and Poor’s (S&P) Risk Solutions and the Risk Data Bank of Japan (RDB), a credit risk data provider, have launched a new advanced default probability model that assesses the creditworthiness of small and medium-sized (SME) Japanese enterprises.
State Street expands foreign exchange options capability
Boston-headquartered State Street plans to expand its foreign exchange options business to better serve the needs of its clients, naming Hank Lynch as head of global foreign exchange options – a newly created position.
BIS report highlights asset managers’ role in inefficient markets
The structure of incentive schemes may limit the ability or willingness of institutional asset managers to act as a natural counterbalance to mispricing, according to the Committee on the Global Financial System (CGFS) – a G-10 central bank forum that…
SEC announces details of hedge fund forum
The Securities and Exchange Commission (SEC), a US financial regulatory authority, plans to hold a hedge fund round table on May 14 and 15 to debate whether such funds negatively affect public investors.
Fitch Risk launches Credit Rating System
CreditVantage, the credit risk management division of Fitch Risk, has launched Credit Rating System (CRS), a suite of credit rating products designed to assist banks in implementing industry best practices in their credit analysis and capital allocation…
No change to retail hedge fund regulations, says FSA
The Financial Services Authority (FSA), the main UK financial services regulator, has said it will not change regulations relating to the marketing and distribution of hedge funds to retail investors in the UK.
Carr to discuss application of integral transforms to option pricing at Risk Europe
Peter Carr, recipient of Risk 's 2003 quant of the year award, will discuss how fast Fourier techniques can be applied to option valuation problems during his address at Risk Europe on April 9.
Martin to present on innovations in credit portfolio modelling
Richard Martin, a quantitative analyst in BNP Paribas’ fixed-income group, will present his assessment of new innovations in credit portfolio modelling at Risk Europe on April 9.
UBS Warburg’s Thomas to discuss next generation of CDO products at Risk Europe
UBS Warburg executive director for global credit derivatives, Alberto Thomas, will discuss the future of collateralised debt obligation (CDO) products during his address at Risk Europe on April 9.
BarCap's Thompson to offer insight into VAR-based pension plan asset allocation decisions
Tim Thompson, head of economic capital at Barclays Group, will present his company’s new value-at-risk method for evaluating and addressing corporate pension plan underfunding under new UK accounting rule FRS 17 at Risk Europe .
Japanese airlines go against credit market’s tightening trend
Technical factors continued to keep Japan’s credit default swaps on a tightening trend this week, except for airlines for which the cost of protection continued to rise on concern that the war in Iraq and Japan’s weak economy will seriously damage the…
BoA’s Mooney joins Trafigura
David Mooney has left Bank of America in New York and joined Trafigura, a privately owned Swiss-based commodity trading company with offices in 30 countries. Mooney, former head of commodity derivatives at BoA, joined Trafigura’s London office as head of…
Offers of protection remain thin in subdued credit markets
Credit default swap spreads have tightened again in Europe in the second half of this week, but markets have remained thin and subdued, say London-based credit derivatives traders.
JP Morgan names Standing’s replacement
Tom Hoppe, global chief operating officer (COO) of JP Morgan Chase’s credit and interest rate markets business, will replace Rob Standing as head of the division. Standing is leaving the bank to run the London Diversified Fund, a hedge fund.
No change to retail hedge fund regulations, says FSA
The Financial Services Authority (FSA), the main UK financial services regulator, has said it will not change regulations relating to the marketing and distribution of hedge funds to retail investors in the UK.
SEC announces details of hedge fund forum
The Securities and Exchange Commission (SEC), a US financial regulatory authority, plans to hold a hedge fund round table on May 14 and 15 to debate whether such funds negatively affect public investors.
Fitch Risk launches Credit Rating System
CreditVantage, the credit risk management division of Fitch Risk, has launched Credit Rating System (CRS), a suite of credit rating products designed to assist banksin implementing industry best practices in their credit analysis and capital allocation…
SG appoints new head of global forex institutional sales
SG, the corporate and investment banking arm of Société Générale, has appointed Dominick Errichetti, previously head of foreign exchange trading and sales for the Americas, as head of the French bank's global institutional foreign exchange business.
Credit swap spreads edge out on Iraq war fears
Spreads in the credit default swap market started widening in trading this week, as sellers of credit protection left the market due to increasing uncertainty about a quick resolution of the US-led invasion of Iraq, London-based traders said today.