Risk magazine
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The German deficit dilemma
German municipalities are turning to the derivatives market to manage the interest rate risks on their massive deficits. Will these instruments relieve their problems or add to them? Rachel Wolcott investigates
CBOT to list electronic ag futures
The Chicago Board of Trade will list agricultural futures on its electronic trading platform from August, in a move it says was driven by customer demand.
UK pension deficits cut by 61%
The pension deficits of the UK’s 200 largest defined benefit schemes have declined by 61% in the first four months of the year because of increasing returns from the equity and bond markets, according to research from Aon Consulting. Deficits now stand…
BoA bolsters rates team with ex-Morgan Stanley duo
Bank of America has hired two senior interest rate traders from rival Morgan Stanley, as it seeks to bolster its trading and rates teams across Europe, Middle East and Africa (EMEA). Tim Yip started last month, and was joined by Ferruccio Ferrara last…
CDS buyers should beware of de-mergers, warns Fitch
Investors in credit default swaps (CDS) could find their holdings unexpectedly affected by corporate spin-offs and de-mergers, rating agency Fitch has warned.
BNP hires Citi forex options head
BNP Paribas has hired a number of foreign exchange employees from rivals Citigroup and Barclays Capital, as the French bank continues a drive to increase its presence in the US and Europe.
Reuters signs two Gulf clients for risk management tool
Reuters has signed two deals in Dubai and Qatar for the use of its risk management platform, Kondor. The Department of Finance (DoF) in Dubai and the Commercial Bank of Qatar (CBQ) have purchased the trade and risk management product suite.
Icap buys EBS currency broker for $775m
London-based inter-dealer broker Icap has bought currency broker EBS for $775 million in cash.
Fitch sees stable credit risk for iTraxx Asia ex-Japan Series 5
The credit risk of the overall iTraxx Asia ex-Japan Series 5 credit default swap (CDS) index is “broadly stable” following its rollover from Series 4, notwithstanding a ratings deterioration of certain tranches within the index, according to a report by…
LSE £510 million payout goes ahead
Shareholders in the London Stock Exchange (LSE) yesterday backed the board's £510 million payout plan, as consolidation manoeuvring continued.
BNP Paribas to expand equity derivatives team by 200
BNP Paribas is increasing the headcount of its equity derivatives division by almost a third, in an effort to tap the growing demand for equity-linked products from emerging markets. In an interview with RiskNews , the bank’s global head of equities and…
Markit to calculate iTraxx values
Frankfurt-based International Index Company (IIC) has appointed UK-based data services provider Markit as exclusive calculation agent for the iTraxx indexes, which track the prices of credit derivatives.
Moulds appointed president of EMEAA at BoA
Jonathan Moulds is to take over from William Fall as president of Europe, Middle East, Africa and Asia (EMEAA) at Bank of America in London following Fall’s announcement of retirement after 11 years at the bank. The appointment will be effective…
Barna leaves Merrill for Deutsche equity role
Peter Barna has joined Deutsche Bank in New York as a director in the bank’s US convertible and equity linked solutions group. He comes from Merrill Lynch, where he worked for eight years, most recently as director in equity linked capital markets with…
Taiwan’s Polaris Securities launches CBO
Polaris Securities has closed its first collateralised bond obligation (CBO) transaction in Taiwan worth NTD12.2 billion ($375 million).
Thai futures contract set for April launch
The Thailand Futures Exchange (TFEX) will launch its first product, SET50 index futures, on April 28.
Dubai and Oman to develop Middle East sour crude futures
The Sultanate of Oman’s Ministry of Oil and Gas (MOG) and the Dubai Mercantile Exchange (DME) are working to develop a new Middle East sour crude futures contract backed by oil produced in Oman, which is set for launch in the fourth quarter this year.
Deutsche Börse to commence mutual fund trading
Deutsche Börse will launch trading of actively managed mutual funds next month, in a move aimed at attracting more private investors to the exchange.
CreditTrade implements straight-through processing
London-based inter-dealer broker CreditTrade has adopted straight-through processing by teaming up with London-based technology firm T-Zero. Within the next few weeks, banks will be able to streamline the processing and confirmation of credit derivatives…