Risk magazine
Isda AGM: China on course to further develop derivatives
The Chinese authorities are supportive of the development of a bilateral derivatives market in the country, despite losses suffered by corporations, asset managers and individuals from derivatives-linked products during the past year.
Rajendra joins Henderson Global Investors in structured products
London-based asset manager Henderson Global Investors has appointed Ganesh Rajendra in a newly created role as head of advisory and research within its structured products team.
Freddie Mac's acting CFO dies
David Kellermann, the acting chief financial officer of US government-supported mortgage buyer Freddie Mac, has died.
Singapore Mercantile Exchange appoints new CEO
The Singapore Mercantile Exchange (SME), the commodity derivatives exchange, has named Thomas McMahon as its first chief executive.
US Treasury failing on Tarp oversight, report finds
The US Treasury's $700 billion Troubled Asset Relief Program (Tarp) is vulnerable to fraud, abuse and profiteering, due to a lack of proper supervision, according to a highly critical report from the programme's inspector-general published today.
Markit names McPherson head of structured finance pricing services
London-based data provider Markit has appointed Neil McPherson as managing director of its structured finance pricing services.
New CEO for Fannie Mae
Michael Williams has been appointed president and chief executive for US mortgage lender Fannie Mae.
CDS spreads widen on US financials
The cost of credit protection on major US banks rose further in early European trading today as the market exercised caution over the recent flurry of positive first-quarter earnings.
CDS spreads widen on US financials
The cost of credit protection on major US banks rose today despite continued positive first-quarter earnings.
TriOptima targets swaps tear-up for mainland China and Taiwan
Swedish post-trade services group TriOptima plans to launch renminbi and new Taiwan dollar interest rate swaps (IRS) termination services in the second half of this year. The company currently offers its services across 19 currencies, including seven…
SG CIB tries to fix variance swap flaws
In the wake of hefty losses for sellers of variance swaps as volatility spiked last year, Société Générale Corporate and Investment Banking (SG CIB) is touting products that might make selling variance more palatable for investors.
ANZ appoints Australia CRO
Australia and New Zealand Banking Group (ANZ) has made two appointments in its risk management department, who will report to the bank's chief risk officer Chris Page.
ETFs resilient despite downturn, according to BGI
Exchange-traded funds (ETFs) continue to hold up well in the face of the recent economic downturn, according to research on the industry covering the first quarter of 2009 by San Francisco-based Barclays Global Investors (BGI).
CDSs on US banks tighten on JP Morgan profit
The cost of credit protection on major US banks fell yesterday in the wake of JP Morgan posting a first-quarter profit of $2.1 billion.
Citigroup swings to profit in Q1
Citigroup saw $1.59 billion in net income in the first quarter of 2009, compared with a net loss of $8.29 billion in the fourth quarter of 2008, and of $5.11 billion in the corresponding quarter last year.
Short-selling ban increased volatility more than credit crisis
The bans on short selling imposed in the US and Europe in 2008 had more effect on market volatility in off-limit stocks and equity markets than the financial crisis itself, a new study has concluded.
Defaults to rise as IMF predicts slow recovery
Default rates and credit costs are expected to rise this year, a survey of credit portfolio managers found, as the International Monetary Fund predicted a severe recession and sluggish recovery.
JP Morgan investment banking reports record profits
Today, JP Morgan reported that it earned $2.14 billion in the first quarter of 2009, a decline from the corresponding period last year when it saw a net income of $2.4 billion.
Q&A: Russia's chief bank supervisor explains Basel II delays
Alexey Simanovsky, director of banking regulation and supervision at the Bank of Russia, updates Risk on Basel II compliance and other risk management issues affecting the local market.
Cross returns to SEC as director of corporate finance
The US Securities and Exchange Commission (SEC) has appointed Meredith Cross as its new director of the corporate finance division.
Encouraging US data helps CDSs on European banks narrow
Five-year senior credit default swap (CDS) spreads referencing European banks narrowed this morning. With JP Morgan announcing a first-quarter profit of $2.1 billion, market participants hoped for more encouraging news from the US.
CIBC names Rule head of forex trading
CIBC has appointed Duncan Rule as head of foreign exchange trading, effective from April 27.
CDSs on European banks widen
The cost of credit protection on European banks increased this morning, as UBS predicted a first-quarter 2009 loss of Sfr2 billion.
HKMA ring-fenced assets before Lehman collapse
The Hong Kong Monetary Authority (HKMA) had identified 19 foreign banks whose financial health could have had a negative impact on the Hong Kong banking system before the collapse of Lehman Brothers in September last year.