Risk magazine
Barcap adds in equity derivatives
UK-based investment bank Barclays Capital has made two appointments to its equity derivatives team in London.
Wachovia expands structured credit team
Wachovia Securities, the corporate and investment banking arm of Charlotte-based financial services company Wachovia Corporation, has recruited five people to work within the structured credit products group.
Bank of America reoganises credit research
Bank of America is reorganising its credit research team and will now cover European and global credits from the US.
ScotPower’s £400m dollar hedging boon
International energy firm ScottishPower said last week it made £400 million ($728 million) from hedging its US dollar revenues.
DrKW adds to capital markets sales team in Singapore
Dresdner Kleinwort Wasserstein (DrKW), the investment banking arm of Dresdner Bank, has hired Patrick Bei as a director in its capital markets sales team in Singapore.
Icap enters electronic futures fray
UK-based interdealer broker Icap will start electronic trading of exchange-listed futures contracts on its BrokerTec platform by the beginning of the fourth quarter, said Icap officials, reports Risknews’ sister publication, Trading Technology Week .
Morgan Stanley set to acquire Barra
Morgan Stanley Capital International (MSCI), a provider of equity, fixed-income and hedge fund indexes based in New York, will acquire California-based technology company Barra within 120 days, for approximately $816.4 million, or $41.00 a share, the…
BNP unit pushes STP for forex
BNP Paribas Securities Services is using CheckFree’s straight-through processing (STP) module to scale its processing services for foreign exchange transactions, reports Risknews’ sister publication, Trading Technology Week .
Reuters names treasury head
Reuters has named Mark Robson its global head of treasury and fixed income, during a year when the UK company has placed the development of its treasury business as a high priority.
SunGard buys Derivatech
Front Capital Systems, the Swedish subsidiary of SunGard, has bought FX options software vendor Derivatech.
Growth in credit derivatives at 29%
Notional volumes in the credit derivatives market now stands at US$3.58 trillion, representing year-over-year growth of 29%, according to trade body the International Swaps and Derivatives Association.
Derivatives risks overstated, say academics
The majority of finance professors at the world’s top business schools believe the risks of using derivatives have been overstated, according to the International Swaps and Derivatives Association.
Cross-market valuation
This article takes the guesswork out of what credit margin to use when valuing credit-risky derivatives, and also sheds light on how relative value trading and capital structure arbitrage may be analysed quantitatively.
PD estimates for Basel II
One of the main issues banks will have to face to comply with the new Basel II internal ratings-based approach is to prove that the long-run average probabilities of default they assign to their clients, which will be used as the basis for regulatory…
Ingots we trust?
Metal trading
Pricing potholes
Valuation
Bullish on commodities
Hedge funds
Mixed signals
Global credit
String theory
Commodity pricing theory
The correlation conundrum
Credit Defaults
De Vitry elected to Isda board
Benoit de Vitry, London-based global head of commodities and emerging markets rates at Barclays Capital, has been elected to the board of the International Swaps and Derivatives Association (Isda).
Go further
Introduction
A long bull run
Introduction