News
Deutsche Bank forex up 15%
In line with its top-tier rivals, Deutsche Bank has bucked the mid-tier trend of lower forex earnings from reduced market volatility, to report a 15% increase in first-half FX profits.
Summit and CoVision link up for hedge fund trading platform
New York-based transaction processing technology company, Summit Systems, has teamed up with another New York company – investment management firm CoVision Capital Group – to create an investment trading platform specifically geared to hedge funds.
CreditTrade launches mark-to-market credit derivatives service
Credit derivatives inter-broker dealer and data provider, CreditTrade, and UK pricing company Totem Market Valuation, have launched a consensus-based, mark-to-market pricing service for banks.
Barclays opts for SunGard’s BancWare
Barclays Bank has implemented SunGard Trading and Risk Systems' BancWare product for its financial risk management activities across the UK, France and Spain.
Bank of America expands global proprietary trading
Bank of America has named Lawrence Barwick as global head of proprietary FX trading, based in London. The appointment is part of a build-up of global prop trading - the latest stage in the bank’s wholesale expansion of foreign exchange, Larry Baum,…
Basel II could reinforce economic cycles more than expected, says BIS study
BASEL – The Basel II bank capital accord could reinforce economic cycles to a greater extent than expected, according to a working paper issued today by the Bank for International Settlements (BIS), the so-called central bankers’ central bank.
Icap faces SEC scrutiny over Blackbird role
UK inter-dealer broker Icap could face a raft of regulatory probes due to accusations that it bought a minority stake in US electronic brokerage Blackbird to stifle potential competition to its own voice-brokered business.
Credit Markets Update: Traders see rush for protection on European bank debt
Traders have seen a big increase in demand for debt protection on European bank debt, following a string of results announcements that saw a big increase in bad debt provisions, along with disappointing profits at European banks.
Japan Credit Market Update: Spreads rise on weak stocks and rating downgrades
The cost of credit protection on Japanese companies continued to rise this week, as weakness in the stock market prompted many players to hedge their credit exposure.
Basel II could reinforce economic cycles more than expected
The Basel II bank capital accord could reinforce economic cycles to a greater extent than expected, according to a working paper issued today by the Bank for International Settlements (BIS), the so-called central bankers’ central bank.
BoA hires Citi veteran to head Asian derivatives sales
Bank of America (BoA) has hired Freda Sze as regional head of global derivatives sales in its global markets group. Based in Hong Kong, Sze will report to Goetz Eggelhoefer, Asian head of global markets.
McDonough staying with Basel II, Crockett leaving BIS
BASEL, SWITZERLAND - New York Federal Reserve Bank president William McDonough said in July he would continue as head of the group of global banking regulators drafting the controversial Basel II bank capital rules until the job was done.
US agency forms working group on Basel II’s third pillar
A working group of financial services industry members and regulators is being formed by the US Federal Deposit Insurance Corporation (FDIC) to recommend a four-point disclosure policy for the third pillar of the Basel II bank Accord.
Private investigator Capcon focuses on UK banks
UK-based private investigation firm Capcon is making a push to win more business from banks and brokers worried by the operational and reputational risks of dealing with, or employing, people with 'skeletons in the closet'.
GFI launches trading for dry freight derivatives
New York based-brokerage GFI Group is to offer hybrid voice and online trading of dry freight derivatives in a joint venture with Arrow Chartering, a London-based shipbroker.
Ice to launch clearing for UK natural gas
Energy trading platform IntercontinentalExchange (Ice) is to begin clearing its UK over-the-counter natural gas contract on September 12.
US agency forms working group on Basel II’s third pillar
A working group of financial services industry members and regulators is being formed by the US Federal Deposit Insurance Corporation (FDIC) to recommend a four-point disclosure policy for the third pillar of the Basel II bank Accord.