Risk magazine
CBOE names Tilly as vice-chairman
The Chicago Board of Exchange has re-appointed Edward Tilly as vice-chairman of the exchange for 2006.
BNP Paribas snaps up West LB trader for high yield expansion
BNP Paribas has appointed ex-West LB credit trader Alvaro Ballesteros as part of its drive to further its growth in the European high yield market.
CSFB launches longevity index
Credit Suisse First Boston released the first-ever longevity index today, which it hopes will enable standardised structuring and settlement of longevity risk transfer instruments such as swaps and structured notes.
RBC in global switch to Risque system
Royal Bank of Canada (RBC) plans to run Sophis’ Risque cross-asset risk management software across its global capital markets businesses, as it seeks to minimise exposure to operational risk, RiskNews can reveal.
LSE rebuffs Macquarie approach
The London Stock Exchange today rejected a "derisory" takeover proposal from Macquarie Bank of Australia.
Isda introduces new definitions for FX and currency options
The International Swaps and Derivatives Association and Foreign Exchange Committee at the New York Federal Reserve have introduced an appendix to the 1998 definitions on FX and currency swaps this week. These changes are designed to standardise…
UK government backs effort to increase use of agriculture derivatives
The UK government has thrown its weight behind a Home Grown Cereals Authority (HGCA) initiative to encourage UK farmers and the banking community alike to make better use of financial risk management techniques, if the industry is not to be hit hard by…
Basel II to encourage smaller banks to invest in risky assets
The new Basel II capital rules will encourage smaller banks to invest in riskier assets, according Peter Plaut, a managing director in fixed income research at Bank of America in New York.
Ex-Reuters executive Byrne joins Calypso
Ken Byrne, former executive vice-president of Reuters in North America, has joined credit derivatives trading software vendor Calypso Technology.
CSFB buys more German NPLs
CSFB has bought a €300 million loan portfolio from the German mortgage bank Deutsche Genossenschafts-Hypothekenbank (DG HYP).
Renaissance lures Becker from ABN Amro
Russian investment bank Renaissance Capital has snared Pier Becker from ABN Amro in Moscow.
NYSE members approve merger
Members at the New York Stock Exchange (NYSE) have voted in favour of the merger with Chicago-based Archipelago today. About 95% of the 1,366 members voted, resulting in a 90% approval rate.
Iafe names Boyle as financial engineer of the year
The International Association of Financial Engineers (Iafe) has selected Phelim Boyle as its financial engineer of the year. Boyle, scientific director of the Institute for Quantitative Finance and Insurance at the University of Waterloo, is credited…
GlobalCoal set to take Icap to court
GlobalCoal plans to take UK interdealer broker Icap to court over a product-licensing dispute related to its Australian coal derivatives index.
Exchange-traded derivatives up 23% in Q3
The exchange-traded futures and options market has continued its rapid expansion, growing by 23% year-on-year in the third quarter to a turnover of $357 trillion, according to the latest figures released by the Bank for International Settlements (BIS).
McKenzie leaves CME to return to Morgan Stanley
Morgan Stanley has hired Ray McKenzie, previously a director of foreign exchange products at the Chicago Mercantile Exchange (CME), as an executive director in its futures business in New York.
BNP Paribas bolsters US equity derivatives team
Greg Hurley has joined BNP Paribas' equity derivatives business in New York, where he will head the single-stock trading team. Hurley moves from Merrill Lynch, also in New York, where he was a director in the bank's global linked equity derivatives group.
New CDS for ABS document to spur demand, says S&P
Analysts are predicting that revisions to the International Swaps and Derivatives Association's documentation templates for credit default swap (CDS) options referenced to asset-backed securities (ABS) could spark a several billion dollar fillip in…
Stainton quits Deutsche Bank for Citadel
Mark Stainton is to move from Deutsche Bank in London to the Chicago office of Citadel Investment Group to head Citadel's energy trading group, the hedge fund said.
China to open futures market to foreign investors
The Chinese government may relax its rules to encourage foreign investors to enter the country's lacklustre futures market, with ABN Amro the first to move.
Calyon hires Quek to run Singapore office
Calyon has hired Winston Quek as its local capital markets manager in Singapore.
SMBC reprimanded over forced swaps sales
Japanese regulators have criticised Sumitomo Mitsui Banking Corporation for compelling customers to buy interest rate swaps in exchange for extended loans.
CFTC chairman calls for more competition
Reuben Jeffery, chairman of the US Commodity Futures Trading Commission (CFTC), has underscored the importance of competition as a critical factor in maintaining the future success of the markets. "We must help foster a market environment that invites…
A metamorphosis in funds
Alternative investment products: Mutual funds