Risk magazine
Banks lean on support loans
Several large investment banks have taken advantage of easier lending terms from central banks, aimed at increasing liquidity in the wake of the subprime crisis.
Bear Stearns recruits credit derivatives staff
Bear Stearns has made a number of credit derivatives hires in London.
SIV-lite vehicles take massive hit from S&P
Rating agency Standard & Poor's (S&P) has made spectacular downgrades to two structured investment vehicle-lites (SIV-lites), which combine collateralised debt obligation structures with short-term funding common in SIVs.
Citi, Hanwha withdraw applications for Korean OTC licences
US dealer Citi and Seoul-based Hanwha Securities last month withdrew their applications for over-the-counter (OTC) derivatives licences in South Korea, the country’s highest level of dealing licence. The firms applied for the licence in June, along with…
Deutsche poaches Grenfell from Macquarie as Asia commodities head
Simon Grenfell has left his position as a global co-head of the commodity markets division at Macquarie Bank in London to join Deutsche Bank in Singapore as head of commodities for Asia.
Close Brothers enters futures business
London-based investment bank Close Brothers has taken a 49.9% stake in Mako Global, a market-maker in exchange-traded derivatives.
Central banks act again as credit crisis continues
Central banks have acted today to increase liquidity in money markets, as the US subprime meltdown continues to have effects around the world.
Subprime rating actions spark EC review of agencies
The European Commission (EC) is planning an “intensive review” of credit rating agencies after the slew of recent rating actions on securities affected by poorly performing US subprime mortgages.
Japanese banks suffering from subprime crisis
Two of Japan's largest banks have taken significant losses from investments in US mortgage-backed securities.
Greenspan joins Deutsche Bank
Alan Greenspan, former chairman of the US Federal Reserve, has joined Deutsche Bank's investment banking division as a senior adviser.
Trichet: the worst is over in subprime crisis
Jean-Claude Trichet, president of the European Central Bank (ECB), told markets today that the worst of the volatility caused by the US subprime mortgage crisis is now over.
Goldman Sachs acts to support troubled fund
Goldman Sachs has led a $3 billion bailout of one of its own hedge funds after market turbulence lost it almost half its value - much of it in the last week.
Credit Suisse expands algorithmic trading business
Credit Suisse has launched its algorithmic trading business, Advanced Execution Services (AES) in seven new markets: Canada’s Venture Exchange, the Czech Republic, Greece, Hungary, Malaysia, Mexico and South Africa.
Evolution expands into global merchant banking
Evolution Markets Financial Services, a subsidiary of environmental market brokerage Evolution Markets, is set to expand its range of activities across global merchant banking within the environmental, energy and clean energy sectors.
BNP names EM structuring head
BNP Paribas has appointed Vlad Galea as head of emerging markets structuring in Europe within its fixed income institutional client group (ICG).
Deutsche appoints Asia-Pacific global finance and FX structuring head
Deutsche Bank has named Ray Franzi to the newly created role of head of global finance and foreign exchange (FX) structuring for Asia-Pacific.
Sovereigns step in as ABS funds reel
The fund management arm of French bank BNP Paribas has suspended redemptions on three of its funds - Parvest Dynamic ABS, BNP Paribas ABS Euribor and BNP Paribas ABS Eonia.
BarCap: CDB link will yield commodity opportunities
The £1.5 billion stake taken in Barclays by the state-owned China Development Bank (CDB) will help spur the two banks’ expansion in Chinese commodity derivatives, according to Benoit de Vitry, Barclays Capital’s London-based global head of commodities,…
Lloyds TSB hires in corporate derivatives sales
Lloyds TSB has appointed Luke Walker as a manager in its corporate sales team.
SocGen and Calyon agree to merge derivatives brokerages
Société Générale and Calyon have signed an agreement to merge their futures and options brokerages, Fimat and Calyon Financial.
US Futures Exchange to launch weekly binary options
The Chicago-based US Futures Exchange (USFE) will offer weekly binary options, each with nine or more strikes, to let investors take positions on the performance of five assets - crude oil, gasoline, gold, silver and the euro. The contracts are valued at…
Credit Suisse hires new European equity derivatives head
Yan Assoun has been hired by Credit Suisse as the bank’s new head of European equity derivatives trading.
S&P launches US commercial real estate index
Standard & Poor's and the California real estate and investment research group GRA have launched the S&P/GRA commercial real estate index (SPCREX), which, unlike other US indexes, will be based on closed commercial transactions only.
Nomura hires Korea head from Goldman
Japanese bank Nomura has appointed DK Shin as head of global markets for Korea, a newly created position that gives him responsibility for business expansion in the Korean market.