Risk magazine
LiquidityHub expecting launch in Q3
London-based electronic trading consortium LiquidityHub plans to start distributing the liquidity of 15 banks in interest rate swaps by the third quarter of this year.
Dow Kim leaves Merrill Lynch
Dow Kim, New York-based co-head of global markets and investment banking at Merrill Lynch, will leave the bank by the end of the year. According to the company, he plans to establish a multi-strategy private investment firm.
BGC hires first chief financial officer
London-based voice and electronic brokerage BGC Partners has appointed its own chief financial officer for the first time.
Deutsche Bank expands credit trading team in China
Deutsche Bank has expanded its global credit trading team in China, with Jianyi Zhu joining as head of global credit trading for Greater China, along with several other senior hires. All the hires are to newly created positions based in Hong Kong.
Credit Suisse poaches private bankers from UBS in Asia, loses Hong Kong branch manager
Credit Suisse has hired several senior private bankers in the Asia-Pacific region, most of whom are from UBS Wealth Management, but has lost its private banking branch manager in Hong Kong, Enid Yip, who resigned for personal reasons.
Taylor quits JP Morgan, energy group rejigs
Beau Taylor has resigned as JP Morgan’s head of global energy. The precise reason for Taylor’s departure is unknown, but an internal memo seen by RiskNews states that: “Effective immediately, Beau Taylor will be leaving the firm.”
Tradition names first chief operating officer
David Pinchin, founder and chairman of Tradition Financial Services (TFS), the Swiss interdealer broker, has been named as chief operating officer of its parent company, Compagnie Financière Tradition.
Creditex and T-Zero align with TSI
New York-based electronic brokerage Creditex has acquired a minority interest in New York-based syndicated loan settlement platform TSI.
CME wins CBOT's heart with increased bid
The Chicago Mercantile Exchange (CME) has increased its bid for the Chicago Board of Trade (CBOT), as it faces a rival takeover attempt from the Intercontinental Exchange (Ice).
BNP hires European structurers
BNP Paribas has hired four fixed-income and foreign exchange specialists for its London-based structured products team.
Bear Stearns names European prime brokerage sales head
Bear Stearns has appointed James Shekerdemian as head of sales for prime brokerage in Europe.
Broker suffers after BMO commodity losses
US commodity derivatives broker Optionable saw its shares plummet again today after Bank of Montreal, its most important customer, said it would suspend their relationship.
Barbakadze joins F&C as head of structured credit
Teimuraz Barbakadze has joined F&C in London as head of structured credit.
Nymex launches electronically traded options on energy and base metal contracts
The New York Mercantile Exchange (Nymex) will list options on crude oil, natural gas, gold and silver on the Chicago Mercantile Exchange’s (CME) Globex electronic trading platform, beginning on June 24 for a trade date of June 25.
BNP expands commodity derivatives
BNP Paribas has hired Jose Cogolludo as head of commodity derivatives sales and marketing, the first move in an expansion of its commodity team.
Merrill Lynch launches first rated CFXO
Merrill Lynch has launched the first full rated and managed collateralised foreign exchange obligation. The product is being managed by Crédit Agricole Asset Management, and rated by Standard & Poor's.
Singapore Exchange hires new head of development
Singapore Exchange has hired Chew Sutat as its new head of development, with effect from June 1. He is currently Standard Chartered’s group head of investment and treasury products for the wealth management business.
Trading platforms strike deal with LiquidityHub
LiquidityHub, the London-based electronic trading consortium, has signed agreements to distribute its liquidity in the interest rate swap and US Treasury bond markets across the Reuters and Bloomberg trading platforms.
DBS establishes first Islamic bank in Singapore
Singapore’s first Islamic bank was set up on May 7 to tap the burgeoning Islamic banking activity in Asia. It will offer services in commercial banking, corporate finance, capital market and private banking.
Two iTraxx ETFs licensed by IIC
Two exchange-traded funds are due to be launched referenced to the Frankfurt-based International Index Company’s (IIC’s) series of European credit default swap indexes.
New London-based global head of fixed-income for Lehman
Roger Nagioff, who has been appointed global head of fixed-income at Lehman Brothers, will become the bank’s first global head to be posted outside the US.
New software shows credit risk under-priced, Moody's says
Banks may have been consistently underestimating the risk involved in long-dated credit derivatives, if a new software package from Moody's KMV is correct.
Network Rail launches 30-year sterling linker
UK railway operator Network Rail has issued a £1 billion 30-year index-linked bond, the first in a series of long-dated index-linked issues that could total £6 billion.
Structured Products Americas: greater industry co-operation needed
Kevin Mahon, Florida-based senior vice-president at Countrywide Securities, has called upon the US structured products industry to work more closely together to provide greater transparency for investors. “Dealers need to clarify in plain English what a…