News
Asset Alliance sues Beacon Hill for $500 million
Asset Alliance, a $4.5 billion hedge fund investor based in New York, has filed a $500 million arbitration claim against the mortgage arbitrage fund, Beacon Hill.
IDC finalises S&P Comstock acquisition
Interactive Data Corporation (IDC) has purchased S&P ComStock, a real-time information service providing financial data from more than 180 stock exchanges worldwide.
Credit derivatives employees reap the highest salaries
Staff employed in the credit derivatives divisions at banks on average receive the highest salaries of all staff, with an Asian-based managing director in synthetic structuring at a bulge-bracket firm earning an average basic plus bonus of £1.35 million…
Korea’s Koram Bank joins SuperDerivatives
Korea’s Koram Bank, a joint venture established by a consortium of local conglomerates, has joined SuperDerivatives, the internet-enabled currency options pricing system.
Moneyline Telerate to offer GFI repo data
Moneyline Telerate will offer access to inter-dealer broker GFI’s European repo data in the next couple of months, and plans to offer other GFI data later this year.
Canadian regulator addresses derivatives-based insider trading
The Ontario Securities Commission (OSC) plans to introduce regulations that prevent sophisticated investors from using derivatives to circumvent current insider trading rules.
"Substantial flaws still remain" in Basel II, says CSFB's Ervin
"While there is much to admire in the new [Basel II] rules, there are also many elements that raise serious concern," said Wilson Ervin, a managing director and head of the firm's strategic risk management department of Credit Suisse First Boston, who…
US deadlines for regulatory proposals revealed
The US plans to kick its Basel II regulation machine into gear fairly quickly, according to a source with regulatory connections.
US regulators restrict Basel II adoption amid agency infighting
In Congressional hearings on February 27, top US bank regulators sharply criticised the proposed Basel Accord revisions, and used their criticisms to justify plans to apply the new set of international banking regulations to only the top 10 banks in the…
FASB's stock option rules spur pricing model developments
Academics and consultants are rushing to bring out new equity option pricing models in the wake of the controversy surrounding the US Financial Accounting Standard's Board (FASB) rule 123 on accounting for stock-based compensation.
Substantial flaws remain in Basel II, says CSFB's Ervin
Wilson Ervin, head of the strategic risk management department at Credit Suisse First Boston, yesterday said that there are causes for concern in the Basel II proposals. "While there is much to admire in the new [Basel II] rules, there are also many…
JP Morgan Chase closes first Korean synthetic credit transaction
JP Morgan Chase has closed South Korea’s first synthetic credit transaction this week. The US investment bank has arranged a hybrid 10-year $30 million credit-linked note (CLN) with exposure to Korea Development Bank credit risk and the super senior swap…
Japan credit default swaps seen at the end of tightening trend
Japanese credit default swaps have reached the end of their tightening trend, and market participants are now waiting for direction, dealers said. But with the fiscal year-end approaching, they predict that participants are likely to stay on the…