Risk magazine
JP Morgan reorganisation continues
JP Morgan has promoted Antonio Polverino to head of corporate derivatives marketing in credit, rates and equities. He previously held a similar role, but covered credit and rates only.
BlueBay launches emerging market CDO
London-based BlueBay Asset Management has launched a $350 million emerging market synthetic collateralised debt obligation (CDO).
Caruana calls for more banking industry support for Basel II
The chairman of the Basel Committee on Banking Supervision, Jaime Caruana, today called for more help from the banking industry in verifying that the Basel II framework is correctly calibrated.
Automated processing of derivatives increasing, says Isda
Automated trade confirmations account for around one-third of all credit derivatives transactions and 20% of plain vanilla swaps trades, according to the International Swaps and Derivatives Association (Isda).
Credit derivatives volumes explode
Notional outstanding credit derivatives volumes grew by 55% over the second half of 2004, rising from $5.44 trillion to $8.42 trillion, according to a year-end market survey conducted by the International Swaps and Derivatives Association (Isda).
Treasury decides not to issue long-dated options
The UK Treasury says it will not issue long-dated interest rate call options, defying a specific recommendation of the Miles Review, a report on the mortgage market published just prior to the 2004 budget.
Collateral use in derivatives transactions up to $1.2 trillion
The use of collateral in derivatives transactions has leapt to $1.2 trillion, according to the International Swaps and Derivatives Association’s 2005 Survey. This represents an 18.4% increase over the corresponding figure in the 2004 Survey.
Dresdner hires six FX directors
Dresdner Kleinwort Wasserstein (DrKW), the investment banking arm of Dresdner Bank, has appointed six key directors to its foreign exchange businesses in London and Frankfurt.
Dow Jones Indexes joins forces with Markit and CDS IndexCo
Dow Jones Indexes, Markit and CDS IndexCo, a consortium of 16 investment banks, have signed agreements to govern the licensing, marketing and calculation of the Dow Jones CDX indexes.
GFI poaches 10 for new rate swaps desk
New York-headquartered inter-dealer broker GFI has hired 10 brokers to set up a new US interest rate swaps desk in London.
Deutsche Bank promotes Dunbar
Deutsche Bank has promoted Ivor Dunbar to head of global markets in Europe, excluding Germany.
JP Morgan reorganises credit derivatives business
JP Morgan has reorganised its structured credit business following a number of high level departures.
Icap platforms get regulator approval
The Monetary Authority of Singapore (MAS) has given Icap the go-ahead to offer its BrokerTec and Garban trading platforms in Singapore. The UK-based inter-dealer broker announced yesterday that the Singaporean watchdog has designated the platforms as…
Bear Stearns to implement new risk reporting data system
Prompted by increased trading volumes and regulation, Bear Stearns is currently in the final stages of testing a data management system for use in its risk reporting.
SG builds India private banking franchise
French bank Société Générale has extended its private banking franchise in India, with the appointment of Balakrishnan Kunnambath as managing director and global head of Indian subcontinent.
Morgan Stanley rejigs currency and rates group
Jonathan Chenevix-Trench, currently head of the global interest rate and currency group at Morgan Stanley in London, is to relinquish his position at the end of this month. This change will allow him to focus exclusively on his role as chairman of the…
DrKW raids Calyon’s sales team
Dresdner Kleinwort Wasserstein, the investment banking arm of Frankfurt-based Dresdner Bank, has poached three senior members of Calyon’s structured investment products team to establish a structured products and derivatives sales team servicing US…
Barclays boosts insurance and pensions solutions team
Barclays Capital has bolstered its insurance and pensions solutions team with the appointment of Jon Exley as director.
Merrill hires three for commodities group
Diego Parilla has joined Merrill Lynch from Goldman Sachs to head a new commodity solutions group. Two of Parilla’s former colleagues at Goldman, Kamal Gajree and Achim Traut, are joining him at Merrill’s new group in London.
SG CIB unveils cross asset research
Paris-based SG Corporate and Investment Banking, the corporate and investment banking arm of Société Générale, has combined its research capabilities to offer its customers cross-asset analysis spanning credit, equity, fixed income and foreign exchange…
Drop in volatility prompts move to exotics
The drop in equity implied volatility levels is making it harder to offer yield enhancement products, says Harold Kim, Hong Kong-based Citigroup managing director, speaking at a structured products forum in the Special Administrative Region.
CSFB launches Taiwan broking business
Credit Suisse First Boston (CSFB) has launched its derivatives broking business in Taiwan. The bank will trade futures and options listed on the Taiwan Futures Exchange (Taifex) for qualified foreign and domestic clients.
Retail investors fuel Asian structured products boom
The structured products market in Asia will continue to grow over the next 12 months, especially among the region’s retail investors. But the potential for mis-selling means that banks need to ensure they do not offer structures that are too complex and…
Goldman launches Barx rival
Goldman Sachs has followed in Barclays Capital’s footsteps by launching an electronic trading platform on Bloomberg for interest rate derivatives.