Risk magazine
JP Morgan restructures credit and interest rate operations
JP Morgan Chase is creating a global credit management group, incorporating credit risk management, corporate banking and credit lending. The new division is intended to reflect a market trend away from differentiating between different debt instruments…
Greenspan highlights mortgage agency concerns
Federal Reserve chairman Alan Greenspan yesterday warned that government backing for US mortgage agencies, Fannie Mae and Freddie Mac, may prompt those that trade their mortgage securities to take excess risks. His comments are likely to further heat up…
TFS-Icap signs up DerivaTech
TFS-Icap, the hybrid voice and electronic broker for currency options, today said it has started to use the DerivaTech platform as its foreign exchange tool for voice-brokered transactions.
Major Spanish client for patsystems
Banesto Bolsa, the Spanish brokerage arm of the Banesto banking group, has signed up to J-Trader Gold, a derivatives trading service supplied by patsystems, the London-based software vendor.
JP Morgan Chase and Deutsche join Currenex as member banks
JP Morgan Chase and Deutsche Bank have joined Currenex, the electronic foreign exchange trading portal. Currenex said the additions will enhance liquidity on the FX trading platform, and the news follows from the collapse of rival Atriax earlier this…
SGAM to hedge Santander’s Supersatisfaction II
SG Asset Management (SGAM) has won a contract to hedge an expected €1 billion of equity-linked deposits issued by Spanish bank Santander Central Hispano (SCH).
Risk 2002 Europe: Risk management remains an ‘art’, says Breeden
Douglas Breeden, dean of the Fuqua School of Business at Duke University, said risk management remains an ‘art’ despite significant theoretical advances in the subject, using the example of disparate pricing in US mortgage securities to illustrate his…
Risk 2002 Europe: BarCap head says Enron hires nearly integrated
Barclays Bank’s investment banking unit, Barclays Capital, plans to launch a fully integrated commodities risk management and financing service following its energy hiring spree during the past three months.
Fresh calls for OTC energy market regulation
A broad-based coalition of natural gas producers, service companies, consumer groups and utilities is set to call on the US Congress and federal regulatory agencies to regulate the over-the-counter (OTC) energy derivatives market.
Credit Agricole Indosuez boosts credit derivatives team in Asia
Credit Agricole Indosuez has hired Medes Ma as credit trading manager in its credit derivatives team in Hong Kong, according to Loïc Fery, head of credit derivatives Asia.
Algorithmics charts new business strategy
Ron Dembo, founder and chief executive officer of risk management systems provider Algorithmics, has said that within a few years, one third of Algorithmics’ revenue could come from the company’s new alliance with Bloomberg, announced in January…
Atriax fall stirs corporates into action
Online FX trading could be set to soar, according to industry officials, after the collapse of multi-bank platform Atriax removed some obstacles to client take-up. And its rival FXall looks set to benefit most from the surge in uptake, according to a…
HVB invests in equity trading with Front
Hypovereinsbank (HVB), the German private sector bank, has extended its agreement with Stockholm-based trading technology providers Front Capital Systems, an operating unit of SunGard Trading Systems. HVB will implement Front Arena globally for its…
AIB appoints 'special' risk management adviser
Allied Irish Banks has appointed a 'special adviser' on risk management in the wake of fraud investigations into its US subsidiary Allfirst, which lost almost $700 million in currency trading.
Credit Markets Update: telecom spreads rally in strong US equity market
This week telecoms continued their rally on the back of a strong US equity market, with spreads tightening by up to 10 basis points. But telecom equipment makers were punished by weak results from Nokia, and saw credit default swaps widen.
Isda AGM: Isda names netalytics backers
Robert Pickel, Isda chief executive, today revealed that BNP Paribas, Citigroup, Lehman Brothers and Royal Bank of Scotland have all signed up to its online netting analysis tool, netalytics.
Isda AGM: FpML2.0 ready for widespread deployment
The latest version of Financial products Market Language (FpML) – the e-commerce standard supporting OTC trading for financial derivatives – which could potentially save the industry $1 billion per year in processing costs, has received ‘trial…
Rates Markets Update: Swaps ride out terrorist scare
Interest rate swap spreads continued in a narrow range this week, despite a slight widening caused by the fear that the crash of a small plane into a Milan office building on Thursday was the work of terrorists. Initial fears led to 10-year US dollar…
Dresdner hires new director in hedge fund sales group
Dresdner Kleinwort Wasserstein has hired Jean Pierre Engele as a director in its equity hedge fund sales team.
Isda AGM: UBS Warburg Energy to expand online product offering
UBS Warburg Energy may add interest rate swaps along with metals and currency derivatives to the online energy-trading platform it bought from bankrupt energy trader Enron in January this year.
SFE appoints market makers for options
The Sydney Futures Exchange (SFE) has appointed two official market makers for its SPI 200 options contract in an attempt to enhance the liquidity of the exchange-traded options market.
CDC Ixis hires two ex-Gen Re staff
CDC Ixis Capital Markets has hired two ex-Gen Re staff to its structured derivatives and derivatives marketing teams.
HKEx to delist forex futures
Hong Kong Exchanges and Clearing (HKEx) will delist its one-day rolling currency futures contracts for euro, yen and sterling on May 21.
Isda AGM: Sweden could pull back from swaps market
More bank credit rating downgrades could prompt Sweden’s Debt Office to pull out of the swaps market. That was the warning delivered today to the International Swaps and Derivatives Association meeting by Erik Thedéen, head of the debt management…