Risk magazine
New York Fed picks up on confirmation issue
The New York Federal Reserve Bank will meet regulators and leading banks next month in an attempt to deal with backlogs of unconfirmed credit derivatives trades.
Dresdner appoints head of retail solutions group
Dresdner Kleinwort Wasserstein (DrKW) has appointed Alberto Garcia Elias to head its newly created retail solutions group in London.
Diageo buys put to hedge General Mills stake sale
Diageo, the UK-based drinks company that makes Guinness and Smirnoff vodka, has bought a put option from Lehman Brothers that covers its entire remaining stake in US food company General Mills, owner of Cheerios, Green Giant and Häagen-Dazs ice cream.
China's CIRC publishes rules on bond investments
The China Insurance Regulatory Commission (CIRC) has issued its first formal rules on bond investments by domestic insurance companies. The move, coming a year after insurers were first allowed to invest in overseas bonds, is part of the CIRC’s efforts…
SGX teams up with CBOT
The Singapore Exchange (SGX) has teamed up with the Chicago Board of Trade (CBOT) to establish a commodities derivative exchange in the city-state.
BNP Paribas hires head of forex sales
BNP Paribas has hired Clive Banks as head of foreign exchange sales for its European corporate group (ECG).
Philippine Central Bank issues IAS 39 guidelines
The Philippine central bank, Bangko Sentral ng Philipinas (BSP), has issued guidelines for the adoption of financial reporting standards set by the International Accounting Standards (IAS) Board, including IAS 39 which deals with derivatives.
Tradition offers property derivatives
Tradition Financial Services (TFS) has become the latest inter-broker to enter the property derivatives fray.
JP Morgan joins Bloomberg SwapTrader
JP Morgan has become the latest investment bank to provide prices through SwapTrader, Bloomberg’s multi-dealer euro interest rate swap dealing platform for end-users launched in February, signalling a further move towards the electronic execution of…
Goodman to head emerging market FX at BoA
Bank of America (BoA) has recruited Lawrence Goodman, formerly a US government economist, to head its global emerging market foreign exchange team.
RBS raids Shinsei to establish leveraged finance business in Tokyo
Royal Bank of Scotland (RBS) has poached an eight-strong team from Shinsei Bank in Tokyo to extend its leveraged finance business into Asia.
LSE says no formal approach from Macquarie
The London Stock Exchange (LSE) said this morning it had received no formal approach from Australian investment bank Macquarie regarding a takeover.
RBS names Au as Singapore financial markets head
The Royal Bank of Scotland has appointed Ka Wing Au as head of financial markets in Singapore, replacing Will Lawton.
Collins Stewart Tullett faces takeover bids
London inter-dealer broker Collins Stewart Tullett announced this morning that it had received several takeover approaches from unnamed parties.
BNP Paribas sets up structured forex sales for European banks
BNP Paribas has set up a foreign exchange sales desk in London dedicated to non-reciprocal bank clients in Western Europe. The desk, consisting of two new hires and two internal moves, will focus on structured product sales.
PBOC further liberalises China’s derivatives market
The People’s Bank of China (PBOC) has issued new regulations allowing banks to trade renminbi forwards and cross-currency swaps in the interbank foreign exchange market. Under the new rules, non-bank companies such as insurance firms and asset managers…
Markit and MarketAxess team up
MarketAxess, a New York-based multi-dealer trading platform, has subscribed to Markit’s Reference Entity Database (Red) service for its credit derivatives index trading system, which it is expected to launch in September.
China relaxes RMB derivatives market
The People’s Bank of China (PBOC) has issued new regulations allowing banks to offer renminbi (RMB) cross-currency swaps for the first time. The regulations also make it possible for more banks, including foreign banks, to get approval to offer RMB…
Macquarie’s head of equity markets retires
Ottmar Weiss will retire from his position as head of Macquarie’s equity markets group (EMG) on September 30, a position he has held for five years.
JP Morgan offers clients collateral service
JP Morgan Chase has developed a collateral management service called JP Morgan CommanD.
TT reaches retail market through NinjaTrader
Trading Technologies (TT) has signed a partnership with retail trading software supplier NinjaTrader, allowing it to provide access to its exchange gateways to the retail market-place for the first time.
Crunch time for Eurex US
The board of Eurex agreed on Friday to give its troubled Chicago-based Eurex US operation a month's grace before the boards of the joint venture's owners, Deutsche Borse and the SWX Swiss Exchange, decide on its ultimate fate.
FfastFill and Trading Technologies partner on X Trader
FfastFill has agreed to integrate Trading Technologies' (TT) X Trader front-end with its own middle-office software, and will provide both applications as a complete package.
Deutsche Bank strengthens forex structuring unit
Deutsche Bank has hired two foreign exchange structurers to work in its client strategy and solutions (CSS) group in London.