Risk magazine
Korea derivatives trading volumes almost double in first quarter
South Korea saw a 93.5% increase in the notional volume of derivatives trading in the first quarter of 2006. In January to March, 12,907 trillion won ($13.7 trillion) were traded, compared with 6,671 trillion won in the corresponding period last year.
RBS recruits debt market strategy head for Japan
John Richards has moved from Barclays Capital to RBS Securities Japan, where he will head the Asia-Pacific debt market strategy and economics team.
Icap forms joint venture in China
Interdealer broker Icap is to form a joint venture with the China Foreign Exchange Trade System & National Interbank Funding Center (Cfets). The venture – Shanghai Cfets International Money Broking – will provide voice-broking services for the money,…
JP Morgan launches tradable iTraxx total return swaps
JP Morgan has today launched tradable iTraxx total return swaps (TRS) that will enable investors to have both long and short exposure risk in the European credit derivatives market.
Swapstream offers electronic butterfly spreads
Swapstream, the London-based electronic trading platform for interest rate swaps established in 2003, has launched the trading of implied butterfly spreads on its platform.
Deutsche hires Gunewardena to strengthen prime brokerage
Deutsche Bank has appointed Mel Gunewardena as managing director and global head of fixed income prime brokerage, within its global markets division.
Man Group snaps up 70% of Eurex US
Hedge fund manager and futures broker Man Group is to buy 70% of US Futures Exchange, formerly Eurex US, at a total cost of $58.2 million.
Citigroup snares Calpine CFO to head commodity capital markets
Citigroup has appointed Rodney Malcolm as managing director and global head of commodity capital markets.
SEC chief calls hedge fund oversight "inadequate"
US Securities and Exchange Commission (SEC) chairman Christopher Cox has called for more power to regulate hedge funds, saying that current rules are "inadequate".
Threadgold quits JP Morgan to run market risk at UBS
Andrew Threadgold, global head of market risk at JP Morgan Chase, has quit the US dealer to take on a similar role as global head of market risk at UBS.
China approves cross-currency master agreements
Lawyers hailed the release of a long-awaited master agreement for renminbi cross-currency forwards and swaps by China’s foreign exchange regulator, saying it was a big step forward in bringing onshore documentation closer to international standards.
PPF enhances risk modelling
The UK Pension Protection Fund (PPF) has added a macroeconomic scenario generator to its in-house long-term risk model.
CreditTrade and Creditex join forces
London-based interdealer broker CreditTrade and New York-based credit derivatives electronic trading platform Creditex have announced they will merge to form a single company to offer voice and electronic execution services in the fast-growing credit…
Regulatory penalties force out Chinatrust chairman
Jeffrey Koo has resigned as chairman of Chinatrust Commercial Bank, one of the largest private banks in Taiwan, due to a regulatory backlash over the bank’s acquisition of a rival bank’s shares through a structured note transaction conducted by…
ABN Amro unveils new inflation team
ABN Amro has named Vincent Voeten as global head of integrated inflation products, which encompasses both trading and structuring. Voeten was previously head of macro exotics trading for ABN Amro in the US.
Brown-Hruska quits CFTC for new role at Nera
Sharon Brown-Hruska has quit the US Commodity Futures Trading Commission (CFTC) to join the Washington DC-based National Economic Research Associates (Nera) Economic Consulting as vice-president in the securities and finance practice.
Rabobank trades its first hybrid derivatives
Rabobank International has traded its first hybrid product this week. According to Michael Weber, London-based head of the bank’s hybrid division, the contract was a quarterly callable dual range accrual on crude oil and the US dollar foreign exchange…
SSgA expands alternative strategies capabilities
State Street Global Advisors (SSgA) has unveiled a major expansion of its alternative strategies capabilities through several new initiatives, including the broadening of its absolute return strategies, new hires and entering into a licence for dynamic…
Citigroup sets up inflation trading team
Citigroup has hired five senior bankers to form a European inflation products team. The team, which is within the European rates trading arm of the bank, will be headed by Sebastien Goldenberg, managing director and head of inflation trading.
Rabobank forms US-based equity and fund derivatives team
Rabobank International has formed a New York-based equity and fund derivatives team within its global financial markets (GFM) group.
Perlman to lead Deutsche Bank’s US prime brokerage effort
Deutsche Bank Securities has hired Craig Perlman as managing director and US head of client service for prime brokerage within its global markets division.
Dow Jones and AIG launch commodity forward indexes
Dow Jones Indexes and AIG Financial Products have launched three new versions of the Dow Jones–AIG Commodity Index.
Derivatives and structured products up 53% in 2005, says Hong Kong’s SFC
Investments in derivatives and structured products by fund managers in Hong Kong grew 53% in 2005 to HK$29.5 billion ($3.8 billion) from HK$19.2 billion in 2004, according to the Securities and Futures Commission’s (SFC) ‘Fund Management Activities…
Trade associations slam UK regulator's proposals for benchmarking
The UK Financial Services Authority’s (FSA) proposals for using benchmarking for over-the-counter derivatives and structured products have been roundly criticised by the International Capital Market Association (ICMA), the International Swaps and…