Risk magazine
IG names finance director
UK spread betting pioneer IG has named Steve Clutton as its new finance director.
HedgeStreet launches hurricane damage contracts
Online derivatives exchange HedgeStreet has launched contracts based on the value of damage caused in the 2006 hurricane season.
Sidenius joins JP Morgan credit modelling team
Jakob Sidenius has joined JP Morgan Chase in London as senior vice-president in credit quantitative research. Sidenius, who has written a number of technical papers on the pricing of collaterised debt obligations (See: All your hedges in one basket ),…
Top dealers slash equity exposures in Q2
The majority of the world’s largest market risk-takers slashed their equity market exposures during the second quarter of 2006, as they responded forcefully to sharp spikes in equity volatility in late May and early June.
Chinese regulator rotates senior managers
The China Securities Regulatory Commission (CSRC) has made several new senior appointments within local futures exchanges, including the soon-to-start China Financial Futures Exchange.
Northern Trust hires Andress to run derivatives operations
Chicago-based Northern Trust has recruited Stephen Andress as its global head of derivatives operations to run its back-office derivatives processing infrastructure.
Wachovia hires two in forex sales from StanChart
Wachovia has poached two forex sales personnel from Standard Chartered in Singapore and Hong Kong, as it continues to increase its presence in Asia.
Man launches HK retail fund
Hedge fund provider Man Investments has launched a principal-protected futures and options fund authorised by the Hong Kong Securities & Futures Commission and aimed at retail investors.
US companies face 57% increase in pension funding, says report
The passing by the US Congress of the Pension Protection Act earlier this month, which was signed into law by President George Bush yesterday, could result in some companies having to contribute 57% more to their pension funds, according to a report…
Moore Capital hires Schachter as head of risk management
Moore Capital has hired Barry Schachter as its director of quantitative resources, according to parties familiar with the hire. Schachter, who joined the US hedge fund in mid-June, will head its risk management, trade group analysis and financial…
Bank Islam signs first Islamic rate swap deal with StanChart
Bank Islam Malaysia has completed the world's first Islamic profit rate swap, a three-year 136 million ringgit ($36 million) deal with Standard Chartered Malaysia.
RBS debuts trading of electronic inflation swaps
The Royal Bank of Scotland (RBS) has launched electronic inflation swap trading within its single-dealer portal on Bloomberg.
Mizuho raids rival Nomura to boost equity derivatives unit
Mizuho International, the London-based international securities arm of the Japanese firm Mizuho, has appointed Mark White as head of equity derivatives sales and Antony Reeves as associate director, equity derivatives sales.
First non-deliverable RMB rate swap traded
HSBC and Standard Chartered Bank have traded what they believe to be the first renminbi (RMB) non-deliverable interest rate swap transaction. The RMB100 million ($12.5 million) transaction has a three-year tenor and involves Standard Chartered paying a…
Dresdner offers Ucits III-compliant volatility tracker funds
Dresdner Bank’s investment banking unit, Dresdner Kleinwort, and its private bank Kleinwort Benson, plan to launch two new equity volatility tracker funds in the next month. The funds will be listed via Dresdner Kleinwort’s Gresham defined funds platform…
SEC names new market regulation chief
Securities market expert Erik Sirri is to join the US Securities and Exchange Commission (SEC) as director of the market regulation division.
Citi rebuilds Asia commodities team
Citigroup has made several hires to its commodities team in Singapore. The US bank has been looking to build up the division since the departure to Merrill Lynch in April 2005 of commodities head Mark Long and most of his team.
Wachovia recruits new CDO distribution head
Wachovia Securities has hired Asif Khan in New York as its head of global structured credit product distribution
Barclays appoints European FX sales head
Barclays Capital has appointed Richard Longmore as managing director and head of European foreign exchange sales.
Cathay Pacific rides out high fuel costs
Cathay Pacific’s net fuel expenses rose by only 12.2% to HK$5.89 billion ($757 million) in the first half of 2006, compared with the same period last year, thanks to a stronger fuel hedging position. This was despite a 28.5% increase in the “average into…
Forex trader faces possible execution
A Vietnamese bank employee faces possible execution in Vietnam after losing some $5.4 million in allegedly unauthorised proprietary trading.
SEC proposes relaxation of Sarbox for foreign firms
The Securities and Exchange Commission (SEC) of the US has proposed a relaxation of the Sarbanes-Oxley rules, allowing foreign companies listing on US exchanges an extra year to comply with the regulations.
SEC goes after stock option 'fraud'
The US Securities and Exchange Commission (SEC) has charged three executives with fraud over a long-running option backdating plan.
DeAM appoints global head of alternative investments
Deutsche Asset Management (DeAM) has appointed Charles Leitner as global head of alternative investments. Leitner, who starts on September 1, will be responsible for all DeAM’s alternatives asset classes, which include real estate, infrastructure and…