News
Mistry joins Native American Securities
Azam Mistry, HSBC’s former director of risk management advisory in Asia-Pacific, has re-emerged at Native American Securities in New York as its new head of derivatives marketing and sales.
Kiodex teams with Reuters in Asia and Latin America
Reuters is to market the Risk Workbench platform of New York-based technology company Kiodex to its commodities and energy customers in Asia, Latin America and the Caribbean.
New US online options exchange announces investors
The Boston Options Exchange (BOX), a venture of the Boston Stock Exchange, has announced investment stakes by Credit Suisse First Boston, JP Morgan Chase, Salomon Smith Barney and UBS Warburg. The size of the investments was undisclosed.
Deutsche Bank credit protection trades wider following Q3 losses
The cost of senior debt protection for Deutsche Bank has crept 5 basis points wider to 58bp-mid after the bank posted a third-quarter net loss of €299 million. In otherwise thin markets, credit derivatives traders in London said active buyers of…
Singapore issues risk management guidelines
SINGAPORE - Guidelines on sound risk management practices issued by Singapore regulators today emphasise the three pillars of adequate management oversight, sound risk management policies and strong risk measurement ability.
Currency overlay set to hit $500 billion
Currency overlay, the management of currency exposures in an investment portfolio separate from underlying asset exposures, is set to become a $500 billion dollar industry within the next three years, according to Piero Overmars, Dutch bank ABN Amro’s…
ING provides cross-currency swap for Samsung Card ABS
The Netherlands' ING Bank will provide the cross-currency swap for South Korean consumer finance company Samsung Card’s $400 million of cross-border asset-backed securities, said a spokeswoman for the Korean company.
RiskMetrics links fixed-income trading system to its risk management system
RiskMetrics Group, the New York-based risk analytics and technology firm, is integrating a pricing and portfolio analytics system into RiskManager, its flagship web-based application for the measurement and analysis of market-based value-at-risk.
JP Morgan signs up 18 CLS third-party customers
JP Morgan Treasury Services, a unit of JP Morgan Chase, has signed up 18 third-party service customers to allow them access to continuous linked settlement (CLS). The third-party service contracts allow counterparts to settle their foreign exchange…
Prebon Yamane launches py match for Singapore dollar
Brokerage house Prebon Yamane Asia-Pacific has extended py match, its online automated matching system for floating rate reset risk positions in swap portfolios, to include Singapore dollars.
Singapore issues risk management guidelines
Guidelines on sound risk management practices issued by Singapore regulators today emphasise the three pillars of adequate management oversight, sound risk management policies and strong risk measurement ability.
Airline exposures cast shadow over CDOs and derivatives trading
Collateralised debt obligation (CDO) investors assessing their credit risk exposure should be aware that recovery prospects among airlines bonds vary dramatically from company to company, according to Goldman Sachs.
Vivendi spreads widen due to Cegetel bid fears
Credit protection spreads on Vivendi Universal debt widened by 60 basis points yesterday as speculation again mounted that the French telecoms company would attempt to boost its stake in French mobile telephone company Cegetel. Five-year credit default…
Defaults by EU companies outpace global and US counterparts, says S&P
The default rate in the European Union (EU) continued to outpace its global and US counterparts during the third quarter, according to rating agency Standard & Poor's (S&P). A total of 20 rated EU entities have defaulted on rated debt worth $8.7 billion…
Basel II asset securitisation paper issued
BASEL – Global banking regulators today issued their delayed working paper on the treatment of asset securitisations under the complex, risk-based Basel II bank capital accord.
EU Cad 3 paper delayed to mid-November
The European Commission hopes to issue an update on progress with its complex third bank capital adequacy directive (Cad 3) in mid-November, a delay to its original plan to publish a paper in late October, a commission spokesman said.
Basel II asset securitisation paper issued
Global banking regulators yesterday issued their delayed working paper on the treatment of asset securitisations under the complex, risk-based Basel II bank capital accord.
Wall Street Systems names McDermott as Japan country manager
US-based Wall Street Systems has hired Sean McDermott as its country manager for Japan, as part of its on-going expansion into the Asia-Pacific markets.
LCH selects onExchange for OTC electricity clearing
Financial technology firm onExchange has signed up with the London Clearing House (LCH) to provide clearing for over-the-counter electricity contracts on the soon-to-be-launched European Energy Derivatives Exchange (Endex).
JP Morgan Chase markets CDO with equity puts in Asia
JP Morgan Chase has begun marketing synthetic collateralised debt obligations (CDOs) with embedded equity put options to a small number of investors in Asia-Pacific. This type of structure is aimed at sidestepping the sometimes-thorny issue of…
LSE launches covered warrants trading
The London Stock Exchange (LSE) launched its covered warrants market this morning, giving UK private investors direct access to equity hedging tools.
EnergyClear and Vmac to develop clearing function
Houston-based, industry-owned energy derivatives clearing house EnergyClear Corporation has entered into a letter of intent with New York-based credit risk assurance provider Virtual Markets Assurance Corporation (Vmac) to develop a program linking Vmac…
Market mulls forex options benchmark
Standard foreign exchange options benchmark prices could be the answer to inaccuracies in marking exposures to market, but whether the move is possible is a matter for debate, according to senior options market participants.
Danske plans systems upgrades for exotics and swaps
Denmark’s Danske Bank plans to upgrade its front-end derivatives trading technology by introducing a number of new systems modules developed by IT provider Summit Systems, an operating unit of UK software company Misys.