Risk magazine
Fed appoints Cole as director of banking
The Federal Reserve Board has promoted Roger Cole to director of the banking supervision and regulation division.
Credit derivatives to hit $33 trillion by 2008, says BBA
The global market for credit derivatives is expected to reach $33 trillion by the end of 2008, according to a British Bankers’ Association (BBA) report released at its credit derivatives conference last week.
Barclays adds functions to Barx for FX
Barclays Capital has added new functions to its Barx for FX trading platform.
BarCap and Integral develop FX trading system
Barclays Capital and Integral, the Mountain View-based foreign exchange systems vendor, are developing a new product aimed at regional banks and brokers.
Icap held merger talks with LSE
The London-based interdealer broker Icap today confirmed that it has pulled out of negotiations with the London Stock Exchange (LSE) after holding merger talks to create a £6 billion UK-based exchange.
Bear Stearns chairman becomes Europe boss
Michel Peretie, chairman of Bear Stearns’ international arm, has been appointed to the new post of chief executive in Europe.
CBOT developing credit derivatives contract and expanding metals coverage
The Chicago Board of Trade (CBOT) is planning to offer credit derivatives to its customers.
Citi reorganises structured credit
Citigroup has reorganised and expanded its global structured credit business. The firm has combined its cash and synthetic structured credit businesses and made some key hires, as well as establishing an illiquid structured credit trading business area…
FSA intensifies scrutiny of OTC derivatives market
The UK’s Financial Services Authority (FSA) has warned investment banks and hedge funds that they need to address persistent weaknesses in the derivatives market.
Settlement biggest CDS market challenge, says Fitch
Prompt and efficient settlement is one of the biggest challenges facing the credit derivatives market, according to a survey published today by Fitch Ratings.
BNP hires two in hedge fund equity finance sales
BNP Paribas has filled two new positions on its European team selling equity finance to hedge funds.
TradeWeb offers Canadian bonds to Europe
Thomson TradeWeb, the Jersey City-based fixed-income trading system, has made Canadian bonds available to European customers with Toronto-based network CanDeal.
Boom in derivatives IT spending to hit $5.75 billion by 2009
Boston-based financial services research and consultancy organisation TowerGroup estimates that global IT spending on derivatives will grow 18% annually over the next three years.
Thai CDS spreads blow out on military coup
A political crisis in Thailand has rattled Asian markets, causing spreads on credit default swaps (CDSs) on Thai sovereign bonds to blow out to over 50 basis points on Wednesday from 36bp a day earlier.
Credit derivatives grow by 52% in first-half 2006, says Isda
The credit derivatives market is now worth $26 trillion notional after another six months of rapid growth, according to the International Swaps and Derivatives Association.
BNP expands credit derivatives team
BNP Paribas has created four new posts on its fixed-income structured products and derivatives team in London.
Cognotec hires three senior managers
Cognotec, the Dublin-based foreign exchange vendor, has recruited three senior managers, including two new members of its board.
RBS shuffles leveraged finance team
The Royal Bank of Scotland has made two personnel changes to its leveraged finance business.
Property derivatives growing, but pricing still difficult
The UK property derivatives market has crossed the £1 billion ($1.88 billion) notional mark, but pricing information shows that the market is still far from efficient, according to the London-based property think-tank, Investment Property Forum (IPF).
BarCap and Merrill Lynch expand derivatives research
Barclays Capital and Merrill Lynch have released new reports on derivatives strategies.
BarCap launches Mexico bank and broker-dealer operations
Barclays Capital (BarCap) has started trading in local markets in Mexico, with the launch of a combined bank and broker-dealer, Grupo Financiero Barclays Mexico. Barclays has invested $100 million in the group so far.
Ernst & Young signs Christie to integrate risk and regulation in UK
Ernst & Young has appointed Stephen Christie as head of financial services - risk and regulatory services for the UK, a newly created position based in London.
JP Morgan makes key appointments in global equities
JP Morgan has made several key personnel changes within the global equities group. The new appointments, which take effect immediately, include Nick Andrews, who takes on an expanded role as head of emerging markets for global equities, in addition to…
NY Fed’s Geithner emphasises systemic risk in derivatives markets
Speaking in Hong Kong, New York Fed president Timothy Geithner has called for better regulation of hedge funds and the derivatives market.