Risk magazine
Inflation option auction plans
New angles
Modelling the unthinkable
Insurance special – Terrorism insurance
Modelling firm tackles surety bond woes
New angles
Liability hedging without the tears
Interest rates
RiskNews review
RiskNews review
Goldman launches gold warrants for retail
New angles
Tailoring internal models
Insurance special – Risk models
Substantial flaws remain in Basel II, says CSFB's Ervin
Wilson Ervin, head of the strategic risk management department at Credit Suisse First Boston, yesterday said that there are causes for concern in the Basel II proposals. "While there is much to admire in the new [Basel II] rules, there are also many…
JP Morgan Chase closes first Korean synthetic credit transaction
JP Morgan Chase has closed South Korea’s first synthetic credit transaction this week. The US investment bank has arranged a hybrid 10-year $30 million credit-linked note (CLN) with exposure to Korea Development Bank credit risk and the super senior swap…
Japan credit default swaps seen at the end of tightening trend
Japanese credit default swaps have reached the end of their tightening trend, and market participants are now waiting for direction, dealers said. But with the fiscal year-end approaching, they predict that participants are likely to stay on the…
Formation of WBOT blows off course
Atlanta-based Weather Board of Trade (WBOT) has missed its planned February 2003 launch date, and its viability has been called into a question by a number of market participants. The online weather derivatives exchange originally planned to launch in…
FASB's stock option rules spur pricing model developments
Academics and consultants are rushing to bring out new equity option pricing models in the wake of the controversy surrounding the US Financial Accounting Standard’s Board (FASB) rule 123 on accounting for stock-based compensation. FASB is expected to…
US regulators restrict Basel II adoption amid agency infighting
In Congressional hearings yesterday, top US bank regulators sharply criticised the proposed Basel Accord revisions, and used their criticisms to justify plans to apply the new set of international banking regulations to only the top 10 banks in the…
Washington Mutual hires Amex CRO
Washington Mutual, the Seattle-based retail bank, has hired Steve Lobo as the company's senior vice-president and treasurer. Lobo, previously the risk watchdog at American Express, will be responsible for enterprise-wide treasury management functions,…
Ahold woes keep spreads wide in European credit default market
The European credit derivatives market has remained volatile this week following a series of problems faced by Dutch retailer Ahold. Corporate default swap levels were pushed wider at the start of the week, following revelations about accounting…
Hedge funds see first capital outflows in two years
Alternative investment strategies saw their first quarterly net outflow in more than two years in the last quarter of 2002, capping a year in which $16.3 billion in assets were added to hedge funds, according to research compiled by Tremont.
Korea First Bank installs Reuters Kondor+
Korea First Bank (KFB), one of South Korea's smallest commercial banks, has implemented Reuters Kondor+ risk and trade management system.
US options broker lures Feinberg from CIBC
New York-headquartered Israel A Englander, the largest options broker in the US, has hired Peter Feinberg as executive vice-president.
Insurers to sue Worldwide Weather Trading for fraud
A number of insurance companies have been granted the go-ahead by the Nassau County Court in New York to launch a lawsuit against Worldwide Weather Trading (WWT), alleging the company fraudulently sold weather derivatives policies. The plaintiffs will…
Stuttgart exchange to give German investors access to Euronext ETF
German investors will have access to Euronext exchange-traded funds (ETFs) from next month, following a selling agreement between the pan-European exchange and Boerse Stuttgart.
Eurex expands basis trading facility
Eurex will expand its over-the-counter basis trading facility to include selected euro bonds issued by member states of the European Monetary Union on Monday, said the derivatives exchange in a statement. The new facility is designed to complement…
Ex SunGard staffers enter bid to buy Rolfe & Nolan
Novora, a company founded by former derivatives processing technology executives at SunGard Data Systems, has teamed up with venture capital firm Battery Ventures to analyse a possible bid for struggling UK back-office technology company Rolfe & Nolan.
Isda pushed for electronic documentation of complex swaps
The International Swaps and Derivatives Association today released its recommendations for financial products markup language (FpML) version 2.0 for rates products.
Board of Trade Clearing Corporation elects three board members
The Board of Trade Clearing Corporation (BOTCC), based in Delaware, has re-elected two members and elected a new member to its board of governors.