News
RMS adds new European and US temperature data
Risk Management Solutions (RMS), a California-based provider of software for the management of natural hazard risks, has expanded the number of weather databases in its Climetrix weather derivatives trading and risk management system in Europe and the…
Barclays Capital hires director of forex sales in Asia
Barclays Capital, the investment banking division of Barclays Bank, has hired Henry Yeong as director of foreign exchange sales, based in Singapore.
Euronext pays CME $7.5m to settle Wagner patent dispute
Pan-European exchange Euronext will pay the Chicago Mercantile Exchange (CME) $7.5 million related to settlement of an indemnification dispute. The dispute revolves around the CME’s $15 million deal in August last year with electronic brokerage eSpeed…
ABA sets up new op risk committee
The American Bankers Association (ABA) has created a new operating risk committee to help bankers reduce losses and comply with new capital requirements laid out in Basel II, the new regulatory capital accord being devised by the Basel Committee on…
Ice sues Nymex over alleged abuse of monopoly power
Energy trading platform Intercontinental Exchange (Ice) is suing its rival, the New York Mercantile Exchange (Nymex), over alleged abuse of monopoly power in the energy trading markets.
ABA sets up new op risk committee
The American Bankers Association (ABA) has created a new operating risk committee to help bankers reduce losses and comply with new capital requirements laid out in Basel II, the new regulatory capital accord being devised by the Basel Committee on…
Japan credit default swaps in quiet start to New Year
Credit default swaps on Japanese names were unchanged on Monday, as market participants came back for a half day after the long New Year holiday.
US Senate calls for structured finance probe
The structured finance businesses of leading financial institutions in the United States are set to face a major business practice investigation during the next six months, with top US regulators set to introduce a new code of governance for structured…
High derivatives data traffic plagues market networks
There are growing fears that market data vendors and their networks may face capacity problems due to a sharp increase in derivatives market data traffic caused by jumps in price updates and data feeds from exchanges.
SGX relaxes listing requirements for structured warrants
A year after Hong Kong resurrected its warrants market by relaxing listing requirements, the Singapore Exchange (SGX) has eased its own listing rules for covered warrants in a bid to boost the local market.
Tokyo-Mitsubishi replaces European derivatives head
Tokyo-Mitsubishi International, the international investment banking arm of Japan’s Bank of Tokyo-Mitsubishi (BTM), has made its New York head of capital markets, Shingo Ninomaru, head of financial derivatives and securitisations in London.
Tullett and Starsupply merge oil businesses
Brokers Tullett Liberty and Starsupply Energy have merged their oil businesses to create what they claim is one of the largest energy broking operations worldwide.
NYSE to recalculate Composite index as basis for ETF
The New York Stock Exchange (NYSE) plans to rebalance its broad-based Composite index, in a move that should herald the introduction of an NYSE Composite exchange-traded fund (ETF) later this year.
US Risk Management Association appoints new operational risk head
Charles Taylor has been appointed director of operational risk at the 88-year-old Risk Management Association (RMA), based in Philadelphia, a 3,000-member organisation catering primarily to US commercial banks, community banks and some global investment…
Eurex dismisses imminent US expansion rumours
European derivatives exchange Eurex today dismissed rumours that it is accelerating its strategy to expand in the US.
JP Morgan Chase takes $400m surety bond hit
JP Morgan Chase has settled its high-profile legal dispute with 11 of the world’s leading insurers, over payment of surety bonds issued by the insurers that guaranteed prepaid commodity forward contract obligations between now-bankrupt energy trader…
Basel Committee expects to make announcement on QIS 3 findings in first quarter of 2003
BASEL - The Basel Committee on Banking Supervision expects to make a preliminary announcement on the findings of the QIS 3 survey of banks late in the first quarter of 2003, a Bank for International Settlements (BIS) spokesperson said at the end of…
MBRM buys Cygnifi intellectual property rights
MB Risk Management (MBRM), a London-based financial analytics company, has bought the entire intellectual property rights of JP Morgan spin-off Cygnifi Derivative Services from its bankruptcy trustees.
Swiss Re names Godbehere as chief financial officer
Ann Godbehere will assume the role of chief financial officer at reinsurer Swiss Re on April 1. Her promotion follows current incumbent John Fitzpatrick’s promotion to chief executive of Swiss Re's life and health business group, a vacancy created by…
Bank Leumi appoints new chief credit officer for the US
Israel’s Bank Leumi has named Ira Romoff as its new chief credit officer and risk manager for North America. He will replace Stanley Karp, who will retire from the bank following 20 years' service tomorrow.
Morgan Stanley creates 124 more managing directors
US investment bank Morgan Stanley has promoted 124 of its staff to managing directors, taking its total number of staff at that level to 983. Stephen Blyth, a New York-based options trader and Risk contributor, was among those promoted.
JP Morgan Chase offers standard maturity dates for credit derivatives in Europe
JP Morgan Chase will quote credit default swaps in Europe with 12 standard maturity dates for each calendar year from today. The move is part of an effort to boost liquidity in the credit derivatives market, with European contracts now ending on the…