News
Lehman Brothers takes financial officer from Deutsche Bank
Andrew Wright, global chief financial officer for Deutsche Bank’s private client and asset management division, as well as regional CFO for continental Europe, is to move to Lehman Brothers.
CPSS: OTC settlements good, but still room for improvement
Systems for the clearing and settlement of over-the-counter (OTC) derivatives trades have strengthened over the past few years, but further progress is needed to reduce risk, according to a Committee on Payment and Settlement Systems (CPSS) report issued…
Rabobank names fund and equity derivatives heads
Rabobank has appointed a new team to manage its global equity and fund derivatives business.
BIS: highest CDO issuance ever but slowed overall derivatives trading
Global issuance of funded collateralised debt obligations (CDOs) reached a record $489 billion in 2006, showing strong investor interest in structured products. Synthetic CDO issuance also surged last year, doubling to $450 billion from 2005 issuance…
ABN Amro names German fixed-income capital markets head
ABN Amro has named Richard Zirps head of fixed-income group capital markets for Austria and Germany.
Juice Energy secures investment
Recently formed US power retailer Juice Energy has announced that it has secured significant capital commitments from a high-calibre group of investors.
First cleared Belgian OTC power trade
The first cleared over-the-counter Belgian electricity trade was concluded this morning, brokered by energy broker Spectron
Moody’s backtracks on bank ratings
Following criticism over the use of Joint Default Analysis (JDA) in calculating its bank ratings, New York-based Moody’s Investors Service will review the practice.
CBOE, CME and Eurex race to launch first exchange-traded credit derivatives
The Chicago Mercantile Exchange has announced its credit index event contracts will start trading on May 6, subject to regulatory approval, making them the first exchange-traded contract on a US credit derivative index.
GFI promotes two new European heads
New York-based interdealer broker GFI has appointed Julian Swain as head of its London operations, replacing Steve McMillan, who has left the company.
ICE proposes $10 billion merger with CBOT
The IntercontinentalExchange (ICE) has made a proposal to the Chicago Board of Trade to combine the two companies in a stock-for-stock transaction that would create the world’s most comprehensive derivatives exchange, ICE announced today.
AIG Financial Products launches partnership with Tenaska
AIG Financial Products, a member company of American International Group (AIG), has signed an agreement to purchase a 50% partnership interest in Tenaska Energy’s natural gas marketing companies Tenaska Marketing Ventures, Tenaska Marketing Canada, and…