JP Morgan
BBSP launches FX implied volatility forecasting
French technical analyst forecasting company BBSP has launched a service that charts and forecasts implied volatilities for currencies, officials at the firm said.
JP Morgan Chase to release ratings-based JECI, while ABN launches iBoxx note
JP Morgan Chase is planning to launch a ratings based version of its JP Morgan European credit index-linked security (JECI) in the next few months. The new JECI products will incorporate credits with specific ratings, initially focusing on AA and A rated…
IMF seeks scrutiny of insurers' credit risk
The International Monetary Fund (IMF) says greater information about insurers' financial markets activities – including credit risk transfers – is needed before their implications for financial stability can be clearly ascertained.
JP Morgan scoops Credit magazine's credit derivatives strategy research award
JP Morgan Chase has taken the top ranking in Credit magazine's credit derivatives strategy research survey, receiving almost twice as many nominations as the second ranked bank, Morgan Stanley. Credit is a sister publication to RiskNews .
JP Morgan sees mixed results in Risk ’s 2002 end-user derivatives rankings
JP Morgan Chase, the world’s largest derivatives house, managed only a fourth-place position in the non-financial companies section of Risk ’s 2002 end-user derivatives rankings. But the US financial group dominated the asset management rankings, with a…
S&P says ratings more accurate than credit default swap prices
Rating agency Standard & Poor's (S&P) defended its credit ratings approach amid criticism from bankers that there were inconsistencies in its company assessments across different sectors and regions.
Shapiro to quit JP Morgan Chase; Winters promoted
Marc Shapiro, head of finance and risk management at JP Morgan Chase, will retire from the bank at the end of next year. Confirmation of Shapiro’s departure came amid a management reshuffle announced by chairman and chief executive, Bill Harrison, which…
JP Morgan Chase may exit European energy business
JP Morgan Chase has lost nine of its energy derivatives traders, fuelling speculation that the US investment bank may close its energy operations, at least in Europe, following widespread cost-cutting and restructuring.
Rates Markets Update: Swap flows increase on economic news
Dollar-swaps saw big flows this week following a US Treasury announcement on Monday that it plans to borrow $120 billion to cover its budget shortfall. Ten-year swap spreads had come in from 57.5 basis points at the start of the week to 52bp midweek,…
Static data moves forward
Firms tackling high-speed and information-intensive tasks such as straight-through processing or risk management without accurate instrument and counterparty reference data may be taking enormous operational and credit risks. Clive Davidson reports on…
JP Morgan restructures credit and interest rate operations
JP Morgan Chase is creating a global credit management group, incorporating credit risk management, corporate banking and credit lending. The new division is intended to reflect a market trend away from differentiating between different debt instruments…
JP Morgan Chase and Deutsche join Currenex as member banks
JP Morgan Chase and Deutsche Bank have joined Currenex, the electronic foreign exchange trading portal. Currenex said the additions will enhance liquidity on the FX trading platform, and the news follows from the collapse of rival Atriax earlier this…
ABN Amro launches Asian absolute return group
ABN Amro has hired Richard Johnson and David Kwan as directors to create a new Asian absolute return strategy group in Hong Kong.
Exposing exposures: how far will it go?
The Enron debacle has spurred investors and creditors to press for greater disclosure of corporate risk and hedging strategies. Companies are beginning to respond. How far will it go?
FASB reverses on loan commitments
The US Financial Accounting Standards Board (FASB) has ruled that undrawn loan commitments will not be subject to derivatives accounting rules and do not have to be marked-to-market – a victory for commercial lenders.
NSSB hires fixed-income derivatives structurer
Nikko Salomon Smith Barney (NSSB) has hired Tatsuya Takeda as a director in its fixed-income derivatives team, according to an official at the bank in Tokyo.
LeBlanc leaves DrKW to head risk management at Barclays
Robert LeBlanc has joined Barclays Capital as its new head of risk management, after less than a year at German rival Dresdner Kleinwort Wasserstein (DrKW). Both banks declined to comment on the move.
JP Morgan launches European credit index-linked security
JP Morgan Chase today launched a security that gives investors exposure to a broad range of European credits.
Calls mount for bank and rating agency disclosure on Enron
Leaders of the US House Energy and Commerce Committee yesterday called on 10 investment banks and three credit-rating agencies to turn over records linked to Enron. Questions to the banks focused on loans to Enron and whether future business with Enron…
Barclays hires two for Latin America credit trading
Barclays Capital, the investment banking division of Barclays Bank, has hired Michael McGowan and Ronaldo Lyrio as directors of credit trading for Latin America, as part of the bank’s effort to grow its presence in the region.
Credit risk reporting: Managing the exposure challenge
Mass financial shocks – including Enron and Argentina – are forcing banks to disclose more information, faster, about their credit exposures to satisfy skittish investors. How are banks' technology infrastructures coping with this challenge?
Little change expected for yen in run-up to fiscal year-end
Japan's former vice-minister of finance for international affairs, Eisuke Sakakibara, aka 'Mr Yen', has suggested the yen should ‘ideally’ depreciate to the 160-180 range against the dollar, further fuelling speculation that the yen could decline sharply…
JP Morgan Chase launches short-term FX predictor
JP Morgan Chase today launched an Economic Activity Surprise Index (Easi) that it claims will help users predict short-term currency moves.
JPMC promotes Winters and Wilson
JP Morgan Chase has promoted Bill Winters and Don Wilson, co-heads of the firm's credit and rate markets business - including credit and rate derivatives - to its 15-strong executive committee.