Risk magazine
GFI appoints new head of credit indexes
New York-based interdealer broker GFI Group has appointed Wayne Margolies as head of credit indexes for North America.
ICG acquires 15% of newly created Creditex Group
Pennsylvania-based Internet Capital Group (ICG) has taken a 15% stake in Creditex Group, just days after it was formed from London-based interdealer broker CreditTrade and New York-based credit derivatives trading platform Creditex.
Calyon hires former SG veteran Raphael Blot
Raphael Blot, formerly head of equity derivatives sales for Asia ex-Japan at Société Générale, has joined Calyon Corporate and Investment Bank as regional head of equity and fund derivatives marketing and sales for Asia-Pacific, including Japan.
Emirates joins jet fuel futures working group
Dubai-based airline Emirates has joined the working group set up by the Dubai Mercantile Exchange (DME) and ENOC Supply & Trading to explore the development of the first physically delivered jet fuel futures contract.
UBS hires Liverance
UBS has announced the appointment of Eric Liverance as executive director and head of US rate derivatives strategy.
Global clearing head leaves Bear Stearns
Richard Lindsey, Bear Stearns’ co-president and head of global clearing services, is leaving at the end of the year.
UK financial firms face £1 billlion start-up bill for Mifid
UK-based financial services firms could face a £1 billion bill for implementing the Markets in Financial Instruments Directive (Mifid), the UK’s Financial Services Authority (FSA) estimates.
Hefes nominated to equalise Euronext board
French financier Sylvain Hefes has been nominated by Euronext to the future board of NYSE Euronext, to equalise the number of American and European directors.
Credit Suisse hires Toone
Credit Suisse has announced the appointment of Alex Toone as managing director and head of global metal sales for its alliance with Switzerland-based commodities trading group Glencore International.
RBS appoints emerging market rate head
The Royal Bank of Scotland has appointed Stephen Laughton to the new position of head of global emerging-market interest rate options and exotics.
Isda praises letter to Geithner on equity derivatives
The International Swaps and Derivatives Assocation (Isda) has said it “applauds and supports” a letter from 17 investment banks to Timothy Geithner, president of the Federal Reserve Bank of New York, which commits them to improving the efficiency of the…
BNP hires two from Wachovia in equities and derivatives
BNP Paribas has made two hires from Wachovia Securities for its equities and derivatives business in New York.
Confirmation keeps OTC trading costs high, survey finds
The growth of the exotic over-the-counter market and the increase in confirmation requirements mean that trading costs have stayed high, according to a survey conducted by the London-based market analysts Z/Yen.
Morgan Stanley hires new quantitative structured products head
Bernhard Scherer has joined Morgan Stanley Investment Management as global head of quantitative structured products.
SwapsWire launches equity derivatives give-up service
London-based electronic confirmation service SwapsWire today launched its PBWire service, which supports give-ups on equity derivatives trades. PBWire allows buy-side clients, executing brokers and prime brokers to communicate give-up details in real…
Credit market front-running needs tackling, says Broadman
Front-running in the credit derivatives markets needs to be tackled, said Bart Broadman, founder and head of Singapore-based hedge fund Alphadyne Asset Management. Speaking at the second annual Asia Risk conference in Hong Kong on Monday November 20, he…
Jones Lang LaSalle enters property derivatives market
US real estate company Jones Lang LaSalle has set up its own property derivatives team.
NewSmith appoints Tsang as partner
London-based NewSmith Financial Solutions, the debt-focused financial adviser, has hired Terence Tsang as a partner.
HSBC appoints global head of exotics
HSBC Corporate, Investment Banking and Markets has appointed Laurent Boscherel to the newly created position of global head of exotics, within its global structured equity business.
Singapore Exchange restructures executive
The Singapore Exchange has made a number of changes to its senior management structure.
Lloyds TSB appoints head of debt origination
Lloyds TSB Corporate Markets has appointed Farouk Ramzan to the new role of head of debt origination.
Second time unlucky for Nasdaq as London Stock Exchange rejects bid
The London Stock Exchange (LSE) has rejected an offer from New York-based stock exchange Nasdaq to buy the company for 1,243 pence a share in cash, on the grounds that the bid “substantially undervalues” the company.
Credit derivatives still leading OTC growth, says BIS
Credit derivatives continued to be the fastest-growing sector of the over-the-counter market this year, despite rising numbers of early terminations.
More staff changes at Bear Stearns
Bear Stearns has appointed Morad Mahlouji and David Austin as co-heads of fixed-income sales in Europe, based in London.