Risk magazine
NAB gets regulator’s nod to resume risk modelling
National Australia Bank (NAB) has received approval from the Australian Prudential Regulation Authority (Apra) to resume use of its internal model for the calculation of the market risk component of risk-weighted assets, the bank said in a statement…
RBS builds e-commerce team
The Royal Bank of Scotland (RBS) has made a series of hires in its e-commerce division.
98% of Euronext shareholders approve NYSE deal
At an extraordinary general meeting in Amsterdam, participating Euronext shareholders cast 70.3 million votes - 98% of the total - in favour of the exchange's planned merger with NYSE Group.
First trade for Creditex's online bulk CDS platform
Q-Wixx, the US credit derivatives technology company, has conducted its first electronic trade of a bundle of credit default swap (CDS) contacts.
Reuters launches new China pension index
Reuters has launched a second China pension index, as part of its efforts to create investment performance benchmarks for the country’s enterprise annuity funds.
BarCap launches options on hedge fund baskets
Barclays Capital has developed a range of new option products based on underlying baskets of hedge funds.
CME to list electronic FX options on Monday
The Chicago Mercantile Exchange plans to offer nine American-style foreign exchange options for trading on its Globex electronic trading platform from Monday, December 18.
Reuters and TMA to launch renminbi swap offer rate fixing
Reuters and the Hong Kong Treasury Markets Association (TMA) will launch a renminbi swap offer rate fixing on 18 December.
SEC risk chief resigns
Charles Fishkin, head of the US Securities and Exchange Commission's Office of Risk Assessment, has resigned to join an asset-management firm.
HSBC trades first renminbi non-deliverable swaption
HSBC has traded the first ever option on a renminbi non-deliverable interest rate swap, the bank said in a statement.
Hong Kong SFC suspends Credit Suisse prop trader
A convertible bond proprietary trader at Credit Suisse has left the bank after being suspended by Hong Kong’s Securities and Futures Commission (SFC) for alleged insider trading.
Lehman names Italy chief and new head of European fixed-income sales
Lehman Brothers has named Riccardo Banchetti as chief executive for Italy.
Russian bank launches first local CDO
Bank Zenit in Moscow has launched what it said is the first collateralised debt obligation (CDO) to be backed by Russian local corporate debt.
Singapore Exchange to license Topix indexes
The Tokyo Stock Exchange (TSE) has agreed to license Topix-related indexes to the Singapore Stock Exchange (SGX) to create derivatives and exchange-traded fund products.
SG partners with Kookmin Bank on commodity derivatives business
French bank Société Générale (SG) and South Korea’s Kookmin Bank have entered into a partnership to expand the commodity derivatives market in Korea.
BNP Paribas hires regional head of structured product sales
Stéphane Goursat has been named head of structured products sales at BNP Paribas for the UK, Ireland and South Africa.
CBOE names Griffith new vice-chairman
The board of directors of the Chicago Board Options Exchange (CBOE) has announced Bradley Griffith will serve as its vice-chairman in 2007.
Hong Kong exchange re-appoints chief, sets out strategic plan
Hong Kong Exchanges and Clearing (HKEx) today renewed Paul Chow’s contract as chief executive for a further two-year term from May 1, 2007 to April 30, 2009. The move follows the exchange’s announcement last Thursday (December 7) of its strategic plan…
FASB suggests more in-depth derivatives reporting
The US Financial Accounting Standards Board (FASB) has issued a proposal for more rigorous reporting of derivatives in financial statements.
Head of portfolio management leaves Primus
Charles Truett, head of portfolio management at New York-based credit derivatives company Primus Guaranty, is retiring at the end of March.
First moves on diamond derivatives
UK-based diamond market data provider Polished Prices, with New York-based news service Bloomberg and three international banks, has published a discussion paper on developing a market for diamond derivatives.
Citigroup launches Islamic finance products in Singapore
Citigroup in Singapore has launched commodity murabaha investments denominated in the US dollar, euro, pound sterling and Singapore dollar, the first such products launched in the city state since the Monetary Authority of Singapore approved the sale of…
US options volume may break two billion in 2006
The Chicago-based Options Industry Council (OIC) has reported both total US options volume and average daily US options volume have increased by 36%.
LiquidityHub hires chief executive
Robert MacLeod has been made chief executive of London-based LiquidityHub, a venture that aims to electronically pool the fixed income liquidity of 11 investment banks.