Goldman Sachs
Banks counter IAS39 threat
Banks are developing new structuring models for corporate clients to ensure the IAS39 accounting standards do not result in a reduction of complex foreign exchange hedging activity, Risk 's sister publication FXWeek reports.
SG to be first to market with UK currency warrants
SG, the investment banking arm of Société Générale, will issue the first currency warrants in the UK next week. The move follows the release of warrants linked to oil, gold and house price moves by Goldman Sachs, SG’s biggest rival in this area.
Japanese credit spreads tighten, especially in electronics
The cost of credit protection on Japanese corporate debt tightened across the board this week, with spreads in the electronics sector particularly narrower, although volumes were thin.
Goldman Sachs snares Goh
Albert Goh, JP Morgan Chase’s head of equity derivatives origination for Asia ex-Japan, has been lured away from the bank to join rival Goldman Sachs.
UBS Warburg to join CJ 50 index
UBS Warburg has become the fifth credit derivatives dealer to contribute to the CJ 50 index, a joint venture product that tracks Japan's 50 most liquid credit default swaps.
More dealers sign up to new credit derivatives matching service
BNP Paribas, Bear Stearns, Credit Suisse First Boston, Goldman Sachs and UBS Warburg are the latest dealers to sign up to a new global credit default swap (CDS) matching service, which the Depository Trust & Clearing Corporation (DTCC) plans to launch…
Fujitsu spreads widen 30bp due to multiple woes
Credit default swap spreads on Japanese computer maker Fujitsu’s five-year debt protection widened 30 basis points this week, following media speculation that the company might become a “rehabilitation candidate” for the government’s Industrial…
International banks have stronghold in Italian derivatives market
The first survey of Italian derivatives dealers conducted by Risk Italia , the Italian language edition of Risk , found that international banks have a stronghold in the Italian derivatives market. But the results were also encouraging for Italian banks,…
Singapore’s UOBAM manages third synthetic CDO
Singapore’s UOB Asset Management (UOBAM) has once again moved into the synthetic collateralised debt obligation (CDO) market, managing its third transaction deal in eight months. This time, Goldman Sachs is the co-arranger of the transaction with UOB,…
New CDO issuance picked up in April, says Goldman
The collateralised debt obligation (CDO) market witnessed a turnaround in new issuance in April, according to research from Goldman Sachs in New York. But the year-to-date new issue of CDOs in the US and European markets is still down by more 20% and 50%…
Goldman launches warrants on UK house prices
Goldman Sachs will launch warrants linked to the UK residential housing market tomorrow, the investment bank said in statement today.
Sony hit by poor earnings reports and downgrade threat
Credit default swap spreads on Japan’s largest consumer and electronics group, Sony, widened further this week, following weaker than expected earnings results and the potential threat of a downgrade by Moody’s Investor Services, say traders.
Carbon across Europe
Pan-European emissions trading is a step closer after agreement of an EU directive. Atle Christiansen and Kristian Tangen of Point Carbon look at the consequences
Japanese credit spreads tighten to near-record levels
Japanese credit default swap spreads continued to tighten on technical factors, nearly reaching record levels, with trading volumes on the whole fairly subdued, according to traders.
Chinese derivatives regulations expected soon, say bankers
The Chinese central bank is expected to publish new regulations within the next few months aimed at easing tough restrictions in the country's derivatives market, say bankers.
Japan credit spreads tighten as Iraqi conflict draws to a close
Credit protection on Japanese names continued a tightening trend this week, on the back of positive sentiment globally with the war in Iraq nearing a close and the absence of negative news in the domestic market.
Chinese derivatives regulations expected soon, say bankers
The Chinese central bank is expected to publish new regulations within the next few months aimed at easing tough restrictions in the country’s derivatives market, say bankers.
Goldman Sachs re-enters power generation sector
Investment bank Goldman Sachs is re-entering the physical power market for the first time in two years with the purchase of a 940 megawatt natural gas plant from troubled energy company El Paso Merchant Energy.
Eurex boosts new US exchange plans with ex-Goldman Sachs hire
European derivatives exchange, Eurex, has hired Michael McErlean to join the the Swiss-German exchange's US management team in preparation for the launch of a registered US exchange.
Goldman down, Bear Stearns up in Q1 forex
Goldman Sachs last week reported reduced foreign exchange revenues within its fixed-income, currency and commodities (FICC) division for Q1, although other US investment banks fared better.
Mark-it Partners puts it all on Red
Deutsche Bank, Goldman Sachs and JPMorgan are negotiating the sale of their credit derivatives reference entity database, Red, to UK credit risk data company Mark-it Partners.
Amrolia quits as co-head of European corporates group at Goldman
Zar Amrolia, co-head of the European corporates group and former global head of foreign exchanges sales at Goldman Sachs, has left the bank after a series of job changes divested him of some of his forex responsibilities.
DST acquires State Street’s risk management unit Askari
DST International, the software arm of US investment management services provider DTI Systems, has acquired State Street’s risk management software arm Askari for an undisclosed sum.