News
Icap recovers after WTC attacks
Icap, the word’s largest inter-dealer broker, says that a busy period for its interest rate swaps business during October and November, due to economic uncertainty and volatile interest rates across the globe, helped spur a 22% rise in global revenues,…
Algo to offer Basel II-compliant credit risk solution
Algorithmics, the Toronto-based risk management technology firm, says it is working with its clients to include a credit solution in its suite of products which meets the specific data architecture, data modelling and technology requirements required…
Capital Risk signs with Longitude to offer weather products
New York-based weather risk specialist, Capital Risk, has teamed with Longitude, a developer of financial technology to facilitate new derivatives markets, to develop weather risk management products.
Cognotec selects Radianz to expand customer base
Cognotec, the Dublin-based foreign exchange and money-market trading solutions provider, has signed a three-year contract with US financial services e-network supplier Radianz. The multi-million dollar contract connects Cognotec to RadianzNet extranet –…
Rolfe & Nolan and TruExchange in partnership for STP
Rolfe & Nolan Systems, the UK-based supplier of derivatives technology solutions, and TruExchange, a Massachusetts-based vendor of trading and matching engines for electronic exchanges and derivatives markets, have entered a partnership to provide a…
Asian bond platform goes live
BondsInAsia (BIA), a group formed through the collaboration of BNP Paribas, Citigroup, Credit Suisse First Boston, Deutsche Bank, HSBC and Reuters, has started live trading on its electronic trading platform for Asian fixed-income securities, BIA Trading…
Isda moves to clarify credit derivatives language
The International Swaps and Derivatives Association has moved to further clarify the definition of what constitutes a credit event in the credit derivatives business, in a new paper, 'Supplement relating to successor and credit events', published as a…
Isda appoints head of research
The International Swaps and Derivatives Association, has made David Mengle its new head of research, a newly created position. Mengle will be responsible for providing research and analytical support for various Isda derivatives committees and…
BNP Paribas extends derivatives back-end system
French banking group BNP Paribas is extending its Ubitrade Futures and Options back-end system to manage all its global custody and stock-broking activities. This is part of an ongoing process to restructure its futures and options business following the…
Danaharta launches Malaysia’s first CLO
Malaysia’s national asset management company Pengurusan Danaharta Nasional Berhad (Danaharta), which is targted at resolving the country’s non-performing loan problem, has issued its first asset-backed securitisation (ABS) worth $81.6 million.
Prime brokerage on Currenex by close of year
Currenex, the online global currency exchange, will make available prime brokerage services to members of its FXtrades forex platform by the close of 2001, according to Lori Mirek, the firm’s New York-based president and chief executive officer.
Reliant to launch new hybrid weather-energy swap
Houston-based Reliant Energy appears to be attempting to take the mantle of industry innovator from troubled Enron by launching a new US natural gas index and associated hybrid swap contract that integrates energy and weather risk – the weather-sensitive…
Liffe confirms weather trading start date
The London International Financial Futures and Options Exchange (Liffe) has confirmed that it will launch its weather futures contracts on December 10 2001. The contracts will be listed and traded on Liffe Connect, and will be the first exchange-traded…
ING Barings debuts with synthetic CDO in Asia
ING Barings, the investment banking arm of Dutch bancassurer ING, has arranged what it claims to be the first arbitrage synthetic collateralised debt obligation (CDO) transaction managed by a portfolio manager in Asia, in an attempt to cater to the…
Indosuez Asian derivatives team unaffected by cuts
Indosuez WI Carr Securities’ Asian derivatives team will not be affected despite cuts of 300-plus staff at the investment bank throughout the region, according to a senior official at the bank. The 22-strong derivatives team will instead be integrated…
LCH appoints two new directors
The London Clearing House (LCH) has made David Pritchard and David Robins non-executive directors of the company, effective from November 26.
New chairman for MFA
Samuel Weiser, managing director of Ranger Capital Group, a Texas-based private investment management company, will replace Jeffrey Izenman as chairman of the Washington-based Managed Funds Association (MFA). MFA is a ten-year-old organisation for…
Rogue trade hits Eurex
A futures contract trading entry error on European derivatives exchange Eurex caused DAX December contracts to fall more than 800 points in early trading yesterday, sparking a fall in German equities that filtered through to London and Paris.
CBOE elects 11 directors
The Chicago Board Options Exchange (CBOE) has elected 11 directors to serve staggered terms on its 23-person board of directors. The terms of the newly elected directors will start when the board holds its first meeting in January 2002.
ANZ poaches Rabobank’s food and agri risk team
ANZ Investment Bank, the investment banking arm of Australia and New Zealand Banking Group, is to expand its role in soft commodities by hiring four ex-Rabobank staff in London. The move will establish ANZ's presence in agricultural futures.
Deutsche boosts US swaps sales effort
Deutsche Banc Alex. Brown, the US investment banking arm of Germany's Deutsche Bank, has lured Steve Beck from internet mortgage bond trading platform, Vertical Crossings, to become a senior salesman offering interest rate swaps and bonds in the US.
ICE enters weather risk market
IntercontinentalExchange (ICE), the Atlanta-based electronic commodity market-place, has launched weather derivatives on its trading system. ICE said its weather derivative products would provide energy market participants with a valuable tool for…