Risk magazine
Isda AGM: Isda launches netting analysis tool
The International Swaps and Derivatives Association will unveil a new online netting analysis tool called netalytics at its AGM on Friday. The netalytics service, developed through a joint venture with law firm Allen & Overy, is only available to Isda…
Tokio Marine launches TokioWeather
Japan's Tokio Marine and Fire Insurance has launched TokioWeather, the country's first software program that calculates the premium on weather derivatives, according to an official at the insurer in Tokyo.
Fame shake-up under new chief executive officer
Fame Information Services, the New-York based market data vendor, has secured a new investment from majority shareholder, Warburg Pincus, the private equity company. New plans to radically shake up the business have been unveiled by incoming chief…
Isda AGM: No room for doom and gloom
At the International Swaps and Derivatives Association's AGM today, outgoing Deutsche Bank chairman Rolf Breuer predicted more strong growth for the derivatives industry, despite problems faced by other financial markets.
Credit Markets Update: Spreads narrow as outlook turns positive
US Federal Reserve Chairman Alan Greenspan’s testimony before Congress today indicated that the Fed does not plan to raise interest rates any time soon and this, along with signs that the US economy is strengthening, caused spreads in the credit…
Isda AGM: Carver takes on SwapsWire challenge
SwapsWire, the electronic derivatives trade processing platform backed by 23 leading dealers, has announced that Chip Carver, head of e-commerce for the rates business at Goldman Sachs, has been recruited as its new chief executive. He replaces Andrew…
Insurers downplay ART role
The present and future presidents of the Risk and Insurance Management Society (RIMS) downplayed expectations that the hard insurance market will lead to a growth of capital market insurance structures, often called alternative risk transfers (ART).
Iris launches eqTrader
Iris Financial Systems, a provider of trading and risk management systems based in San Francisco, today launched eqTrader, a component-based equity portfolio management system, onto the European market. eqTrader enables portfolio managers to automate…
Deutsche appoints new fixed-income head in Europe
Deutsche Bank has appointed Scott Gewirtz as head of fixed income in Europe.
Isda AGM: New Isda board members unveiled
Henning Bruttel, head of foreign exchange and local markets at Dresdner Kleinwort Wasserstein in Frankfurt, was made the new vice-chairman of the International Swaps and Derivatives Association today. He replaces Thomas Montag, managing director of…
ABN Amro adds to Asian structured derivatives team
ABN Amro has hired Jamie McWilliam to bolster its structured derivatives team in Hong Kong.
Isda AGM: Enron report warns against a clampdown on derivatives
There is no need for further regulation of the over-the-counter (OTC) energy derivatives market, concludes an International Swaps and Derivatives Association report on the bankruptcy of Enron, published today.
Isda AGM: OTC derivatives growth soars in H2 – Isda survey
The value of notional outstandings of over-the-counter derivatives contracts grew significantly in the second half of last year, according to a survey released today by the International Swaps and Derivatives Association. Credit derivatives saw the most…
EU officials act on post-Enron policy issues
European Union (EU) finance ministers and central bankers ordered a review on Saturday of the supervisory issues for derivatives trading and the preparation of financial data to try to avoid any Enron-like collapses in Europe.
Deutsche launches credit index fund
Deutsche Bank launched the Xavex Dynamic Bond Portfolio Fund today. The new credit fund is index-based and indirectly uses the German bank’s over-the-counter (OTC) trading desk for hedging.
ABN Amro expands FX options team
Dutch investment bank ABN Amro has added three traders to its global foreign exchange options business.
Blackbird completes first FpML trades
Blackbird, the North Carolina-based electronic market-place for over-the-counter interest rate derivatives, has completed the first swap trades on an electronic network using Financial Products Markup Language, or FpML. The deals are the first practical…
Booth to head credit trading at RBS
The Royal Bank of Scotland (RBS) has hired Stewart Booth as head of credit trading for the capital markets division of RBS Financial Markets. Booth will not only run trading for credit derivatives, but also RBS' investment grade and high-yield businesses.
Merrill makes more key FX hires
Merrill Lynch has made another number of key hires to its FX team following the appointment of Michael deSa as global head of FX late last year. The US investment bank has lured Adam Kreysar, the highly rated global head of FX options at UBS, as its new…
Eurex to offer Stoxx sector futures in US
Eurex, the Swiss-German derivatives exchange, will start offering Dow Jones Stoxx 600 Bank and Dow Jones Euro Stoxx Bank index futures in the US today after receiving the regulatory go-ahead.
Chubb head calls for more chief risk officers
Dean O’Hare, chairman and chief executive of Chubb Corporation, believes companies without a chief risk officer are not handling risk management effectively. Speaking at the Risk & Insurance Management Society’s annual conference in New Orleans today, O…
Cicada creates risk data management group
Cicada, a US market data distribution systems company, has created a new subsidiary, Cicada Risk, to provide risk data management products. The move marks the company’s first foray into the risk management business.
Chaos reigns at new hedge fund
London-based hedge fund manager HED Capital Management is set to launch a new $200 million fund, dubbed the Beaufort Chaos Fund, by June. HED claims its chaos theory-based strategy obviates the need for derivatives.
Banks support European credit master agreement changes
Investment banks have signalled their support for the International Swaps and Derivatives Association's April 5 decision to drop ‘obligation acceleration’ and ‘repudiation/moratorium’ as credit events for standard default swap transactions in Europe.