Citi
Goldman and Citigroup to become CBOT swaps market makers
From next month, Goldman Sachs and Citigroup will act as electronic market makers for the Chicago Board of Trade's (CBOT) five-year and 10-year interest rate swap futures contracts.
Citigroup adds credit correlation specialist
Citigroup has hired Mickey Bhatia to head its global credit correlation trading business as it continues to bolster its global credit business with new appointees. Bhatia joins from Deutsche Bank, where he was head of flow credit correlation trading…
New forex sales chief for Citi
Citigroup has made Anu Jayanti global head of foreign exchange sales in New York. The move marks a promotion for Jayanti, who was previously global head of leveraged sales and regional head of forex for North America at the bank.
In the frame
Seven of the industry's top op risk executives debated framework implementation at a recent roundtable discussion in New York, moderated by Ellen Davis and sponsored by enterprise-wide risk solution firm FRS
BNP hires Citi forex options head
BNP Paribas has hired a number of foreign exchange employees from rivals Citigroup and Barclays Capital, as the French bank continues a drive to increase its presence in the US and Europe.
Ex-Deutsche’s Raynes to head Citigroup’s structured credit division
Citigroup has appointed Michael Raynes as head of its global structured credit products division in New York. He joins from Deutsche Bank, where he spent six years, most recently as head of the global CDO group and co-head of the global securitised…
CBRC concerned about selling Chinese banks
The China Banking Regulatory Commission (CBRC) has admitted it is concerned about the role of foreign financial firms operating in China.
Temasek buys £2.3bn stake in Standard Chartered
Singaporean investment company Temasek Holdings has bought an 11.55% stake in Standard Chartered from the Tan Sri Khoo Teck Puat estate for around £2.3 billion. The move makes it the largest single shareholder in the London-based bank.
Standard confirmation for preferred CDS hammered out
Eight dealers have agreed upon standard documentation for preferred credit default swap (CDS) transactions. The new standards will likely enhance liquidity of the nascent market.
Barclays Capital prises Shelton from Citigroup
David Shelton has quit his position as a director in Citigroup’s global credit derivatives research unit in London, and is to join Barclays Capital.
CDS IndexCo and Markit launch synthetic US CMBS index
CDS IndexCo and Markit have launched CMBX, a range of synthetic credit default swap (CDS) indexes of US commercial mortgage-backed securities (CMBS), which will trade from today.
Citigroup adopts Reveleus' Basel II solution
Citigroup is to implement the Reveleus Basel II solution to support the global bank's US and international regulatory requirements under the Basel II Accord.
IIC launches euro iBoxx ABS index
Frankfurt-based International Index Company (IIC) has launched the iBoxx EUR ABS 50 index, which consists of the 50 largest and most liquid AAA-rated European floating rate asset-backed securities (ABS) and mortgage-backed securities (MBS). Each…
Citigroup hires Browning as head of forex
Citigroup has hired Marcus Browning, formerly head of forex options at Merrill Lynch, as its first global head of forex trading.
Coyne joins Citibank to head FX prime brokerage
Deutsche Bank’s former global head of forex prime brokerage Andrew Coyne has joined Citigroup to run its global foreign exchange prime brokerage operation in London.
Algorithmics and Citigroup in credit risk partnership
Algorithmics, a Toronto-based specialist in enterprise risk management, has entered into a strategic alliance with global banking giant Citigroup to deliver a global suite of credit risk models. The models will provide credit risk and default analytics…
Nikko hit by latest Japanese trading error
A new trading error on the Tokyo Stock Exchange looks set to cost broker Nikko Citigroup an estimated JPY1 billion ($8.6 million). The development follows a more serious trading error at Mizuho on December 8.
PBOC gives OTC foreign exchange trading go-ahead
The People's Bank of China (PBOC) has opened up the country's spot FX market to over-the-counter trades, and authorised the China Foreign Exchange Trading System (CFETS) to determine the daily central parity rate for the RMB against foreign currencies.
Dealers boost online emerging market forex options services
Bank of America and Citigroup are among the latest in a series of banks building up online capabilities for emerging market currency options, as the market for the products continues to expand.
Risk and responsibility
A growing number of banks are producing sustainability reports detailing their environmental and socially responsible initiatives. Is this just slick PR or has sustainability become an important risk management consideration? Clive Davidson investigates
Under Scrutiny - Regulators focus on credit
Well-publicised risk issues and a recent growth spurt have brought credit markets firmly under the scrutiny of global regulators. Nikki Marmery investigates whether the attention will prove to be a boon for attracting more investment - or a barrier to…
Major dealers issue joint letter to Fed on credit derivatives
The New York Federal Reserve meeting with 14 major dealers on September 15 appears to have succeeded in coercing the industry into taking more concerted action to tackle the mounting problems in credit derivatives confirmation backlogs. Following the…
BNP Paribas reinforces structured products team in Germany
BNP Paribas has made two new appointments to its German structured product team and one to its bond team in Frankfurt.
Isda’s ‘novation protocol’ aims to tackle derivatives backlogs
The world's major derivatives dealers have signed up to the International Swaps and Derivatives Association’s long-awaited ‘Novation Protocol’, which seeks to facilitate the transfer of existing trades to third parties.