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Fitch to acquire Algorithmics
Fitch Group announced today that it is to acquire Algorithmics, a leader in enterprise risk management. The transaction, valued at $175 million, is expected to close in January 2005. The transaction is subject to customary regulatory approvals.
Derivatives exchanges look to expand market-making capabilities
Eurex, the electronic derivatives exchange, has widened the scope of its European equity options market-making (MM) programme.
Nomura continues equity derivatives build-up
Nomura, the Japanese securities firm, has continued its drive to create a strong European equity derivatives department, by unveiling a number of new hires.
Credit correlation model debuts on Bloomberg
Morgan Stanley’s credit correlation model has been made available on Bloomberg today. The model can be used to price basket and single-tranche credit derivatives.
Software glitch halts CBOE trading
The Chicago Board Options Exchange (CBOE) suffered an interruption in its order routing and dissemination reporting last Wednesday.
Barx proves catalyst for electronic swaps, says Icap’s Spencer
The move by UK investment bank Barclays Capital to offer live interest rate swaps prices via Bloomberg terminals is the catalyst that will drive the electronic trading of interest rate swaps, according to Icap chief executive Michael Spencer.
DrKW appoints new head of capital markets prop trading
Dresdner Kleinwort Wasserstein (DrKW), the investment banking division of Dresdner Bank, has appointed Richard Huston to the new position of global head of capital markets risk trading.