Technology
Getting the risk right
Credit risk systems
Automating the compliance process
COMPLIANCE
Single capital accord for all banks impossible, says Basel chief
BASEL II UPDATE
KWI launches new version of flagship trading product
London-based energy risk management software company, KWI, this week released KW3000 Version 7.0 – its updated flagship suite of applications for multi-commodity trading and risk management.
Eurex sees another record month of trading
Swiss-German derivatives exchange Eurex saw its busiest month ever in September, with 83.6 million contracts traded, up 22% on September last year.
Pensions’ credit crisis
The markets’ swoon isn’t the only problem plaguing pension plans, according to credit derivatives dealers. They are also dangerously exposed to their own corporate sponsors. Navroz Patel reports on recent efforts to convince pensions to hedge this risk
The convergence of ALM and ERM
Banks seeking a truly complete view of their exposures are beginning to seek ways to integrate the enterprise risk management systems they use for their trading books with the asset and liability management systems they use for their banking books. Clive…
BBVA selects Asset Control for Europe, Latin America
Spanish bank BBVA, formed by the merger of Banco Bilbao de Vizcaya and Argentaria in 2000, has selected Asset Control to provide infrastructure to centralise and monitor the control of pricing and reference data for its risk management department.
Integral awarded patent for Web technology
Californian software company Integral Development said it has secured a patent for its Web-based straight-through processing transaction technology. The patent applies to Integral’s Integral Direct FX, Direct Derivatives, AutoDealer and Integral…
Tullet releases SwapMarkerEurope on Bloomberg
Tullett Financial Information, a subsidiary of brokerage firm Tullet & Tokyo Liberty that provides data on derivatives products, has launched its SwapMarkerEurope interest rate swaps service on Bloomberg.
Basel II system improvements still unclear, says UK regulator
The precise steps banks need to take to ensure their risk management systems are compliant with the proposed Basel II capital accord aimed at making the world’s banking system safer is unclear, a UK regulator said yesterday.
Op risk rules inadequate, says Isma professor
The Basel II capital accord rules regarding operational risks for financial institutions are inadequate, Jacques Pézier, a visiting professor at Reading University’s Isma Centre, told delegates at a conference in London this morning.
General Motors signs up for online commodities hedging
US auto manufacturer General Motors has signed up to the online commodities hedging service Reval.com, a provider of risk management and US derivatives accounting rule FAS 133 compliance services.
CLS endorses ‘in-principle’ Hong Kong and New Zealand dollars
CLS Bank, which launched continuous linked settlement (CLS), the global foreign exchange settlement system, on September 9, has said that Hong Kong and New Zealand dollars should become eligible currencies once they have satisfied CLS Bank rules.
SSgA may implement genetic programming investment model
The investment committee of State Street Global Advisors (SSgA), manager of $770 billion in assets, will decide on October 16 whether to implement an investment model derived from genetic programming exercises to its $390 million emerging market equities…
Poor vendor data delays BofNY securities ‘master’ project
The Bank of New York said its efforts to build a ‘master’ securities database was delayed due to poor data from between 13 to 15 data providers.
London Bridge buys stake in Amelia Financial Systems
London Bridge Software has bought a minority stake (less than 20%) in UK-based operational risk management software company Amelia Financial Systems. It refused to provide more specific details on the financial terms of the deal.
Bear Stearns to use Derivatech for FX options
Bear Stearns has taken Derivatech’s FX risk management platform to support its expanding FX options trading and distribution operations in New York and London.
JP Morgan says disposable computing is key to IT
JP Morgan Chase has solved the problem of how to provide computationally intensive derivatives pricing and risk modelling capabilities across products and throughout the firm, without vastly expanding its IT budget with what Steve Neiman, head of high…
Business managers play key role in shrinking Merrill IT budget
Merrill Lynch has stemmed IT cost overruns by shifting the responsibility for technology project costs to business managers and away from IT managers.
GFI launches new credit portal
GFI Group has launched its new Credit Portal, which provides online access to GFI’s databases and risk management tools.
Fortis London commodities unit to implement Ubitrade system
Fortis Commodities Brokerage, the London commodity trading unit of Benelux bank Fortis, has signed up to Ubitrade Futures & Options, a capital markets trading and risk management system developed by French company Ubitrade.