Risk magazine
JP Morgan launches first public international longevity index
Investment bank JP Morgan yesterday launched the first publicly available international index to trade longevity risk, in a bid to lead the development of a derivatives market.
Lehman buys 20% of DE Shaw
Lehman Brothers has purchased a 20% stake in DE Shaw group, a $29 billion New York-based hedge fund. The deal, which closed on March 12, involves an up-front payment and future performance-based payments.
CQS to launch Asian volatility fund
CQS, the London-based hedge fund manager with €4.5 billion under management, is preparing to launch the CQS Asia Fund. The fund, to be managed by Jean-Christophe Blanc, will go live in the coming weeks. CQS is seeking to raise $250-$350 million, and will…
CME launches weekly weather derivatives
The Chicago Mercantile Exchange (CME) will launch futures and options on a weekly weather index of 18 US cities from April 2.
Deutsche Börse loses CFO and COO in restructuring
Deutsche Börse’s chief financial officer Matthias Hlubek and chief operating officer Matthias Ganz have resigned, as part of a restructuring that could see capital distributed to shareholders.
Credit quality improving in February, defaults delayed to 2008
Hawaii-based risk technology vendor Kamakura has reported a further drop in its monthly global index of troubled companies, signifying an improvement in global credit quality.
China sets up new unit to manage investment of reserves
The People’s Bank of China (PBOC) is setting up a new company or agency to handle the investment of a portion of the country’s huge foreign exchange reserves, but details have yet to be announced, according to Chinese press reports.
SuperDerivatives launches derivatives trading platform for hedge funds
London-based technology firm SuperDerivatives has launched an online multi-asset derivatives trading platform, designed for hedge funds.
RBS hires European ABS & CDO sales head
Steven Hulett has been appointed to the new position of European head of debt markets asset-backed security and collateralised debt obligation sales at Royal Bank of Scotland.
PwC report pans limits in risk management
Corporate risk managers are too focused on complying with regulations at the expense of helping their companies operate, according to a new report.
Swiss Re plans first flood bond issue
Reinsurer Swiss Re intends to issue the world’s first catastrophe bonds, giving investors exposure to flood risk, by the end of March.
Stock index futures in China aimed at H1 2007
China could start trading stock index futures in the first half of 2007, according to Fan Fuchun, vice-chairman of the China Securities Regulatory Commission.
Merrill Lynch International chairman moves to Hong Kong
Kevin Watts, the London-based chairman of Merrill Lynch’s international subsidiary, will move permanently to Hong Kong from April.
Hong Kong-listed derivatives on Chinese stocks
US bank Goldman Sachs has launched the first exchange traded fund (ETF) derivatives on Chinese stocks, to be listed on the Hong Kong stock exchange.
Merrill Lynch hires two senior traders from Barclays
Merrill Lynch has hired two senior traders in Hong Kong – Herr Ling Yeoh as head of proprietary local currency trading and Amit Bansal as director of south Asia rates trading, both moving from Barclays Capital.
CESR elects new chairman and vice-chairman
The Committee of European Securities Regulators (CESR) has elected Eddy Wymeersch, chairman of the Belgian Banking, Finance and Insurance Commission (CBFA) as chairman of CESR, and Carlos Tavares, chairman of the Portuguese Comissão do Mercado de Valores…
US commercial property derivatives to launch in next two months
The first US commercial property derivatives will launch by May this year, following the National Council of Real Estate Investment Fiduciaries' (NCREIF) licensing of four investment banks to use NPI, its US property index.
Citi opens prime brokerage office in Singapore
Citigroup has opened a prime brokerage office in Singapore. The US dealer says the move underlines its commitment to Singapore and the growing importance and growth of the Singapore hedge fund industry.
AIG launches emerging markets FX indexes
Connecticut-based AIG Financial Products has created a family of emerging markets foreign exchange indexes. Launched yesterday, the AIG-EMFXI indexes provide exposure to three-month over-the-counter forwards contracts on 20 emerging market (EM)…
TSX and ISE to set up new Canadian derivatives exchange
Toronto Stock Exchange operator TSX Group and the New York-based International Securities Exchange (ISE) will jointly launch a new Canadian derivatives exchange in 2009.
Moody's methodology change sparks controversy
The first effects of Moody's widespread re-rating of European financial credits caused widespread consternation at the end of last month, apparently influencing credit market pricing and demand for basket credit derivatives trades.
NYSE struggles to implement Reg NMS on time
The New York Stock Exchange (NYSE) has failed to fully comply with the trading phase of Regulation National Market System (Reg NMS), which came into force yesterday.
Fed examining subprime ARMs
US banks may have sold subprime mortgages to borrowers unable ever to repay them, according to the US Federal Reserve.
Working group to set up diamond derivatives
After a meeting with the International Swaps and Derivatives Association, UK-based cut diamond market data provider Polished Prices is putting together a working group aimed at creating a market in diamond derivatives.