Risk magazine/News
Commonwealth Bank of Australia issues five series of Shield CLNs
Commonwealth Bank of Australia (CBA) is issuing five series of credit-linked notes (CLNs), maturing on September 4, 2006 and referenced on a portfolio of 100 equally weighted investment-grade credits.
Ontario Teachers’ Pension Plan licenses credit risk software from Kamakura
Ontario Teachers’ Pension Plan, Canada’s second largest pension fund, has licensed credit risk modelling software from Honolulu-based Kamakura.
Eurex and BOTCC finalise agreement on US exchange
European derivatives exchange Eurex has finalised the terms of a clearing agreement with the Board of Trade Clearing Corporation (BOTCC), opening the way for the launch of a new US exchange next year.
Omhex starts operations
Omhex, the company formed by the merger of Sweden's OM Technology and Finland’s Helsinki Exchanges (Hex), which operates the country’s derivatives exchange, started trading today.
Gain Capital takes $10 million investment from Tudor
Gain Capital, the foreign exchange trading platform aimed at middle-market traders, has secured a $10 million investment from Tudor Ventures, the venture capital and private equity arm of Tudor Investment.
SG appoints interest rate derivatives marketer
SG, the investment banking arm of French bank Société Générale, has appointed Arun Jagannathan from Merrill Lynch to sell interest rate derivatives and structured products to German and Austrian banks.
Dresdner appoints new global head of equity derivatives
Dresdner Kleinwort Wasserstein (DrKW) has appointed Chris Seery as its new global head of equity derivatives.
Citi, SG and DrKW to market make iBoxx; new index launched
Citigroup, Dresdner Kleinwort Wasserstein (DrKW) and Société Générale will make markets in indexes provided by bond and credit default swap index company iBoxx. They join two existing providers, ABN Amro and Deutsche Bank, and should help improve…
d-cyphaTrade to launch electricity options on SFE
Sydney-based d-cyphaTrade plans to list electricity options on the Sydney Futures Exchange (SFE), with a first phase launch scheduled for the fourth quarter of this year.
BTM expands use of forex pricing system in Japan
The Bank of Tokyo-Mitsubishi (BTM) has extended its use of financial software company Cognotec’s online foreign exchange trading system in Japan.
Lloyds TSB selects SAS to manage risk
UK financial services group Lloyds TSB has installed banking risk management software from SAS, a North Carolina-based data management software vendor. The technology will help the bank to meet Basel II credit risk compliance and further automate its…
Prime broker fees "too low"
Pricing credit risk has come under scrutiny from central bankers in London, as increased competition for prime brokerage business has caused service fees to tumble.
Almeida rejoins Deutsche as global FX sales head
Dan Almeida will begin in the newly created position of global head of foreign exchange sales at Deutsche Bank in London on September 2.
Back-up systems key to blackout recovery
New angles
Mark-it set to sign 12 dealers to Red in next fortnight
UK credit data company Mark-it Partners expects to sign up between 12 and 20 major credit derivatives dealers to use its credit reference entity database, Red, within the next two weeks.
Deutsche Bank to use Isaac Technology credit risk system
Deutsche Bank has signed up to use US-based Fair Isaac Blaze Decision System software to build an enterprise-wide credit decisioning and risk monitoring solution, the company announced this week.
Euronext profits from derivatives growth
Pan-European exchange Euronext reported strong results today for second-quarter 2003, boosted by increased revenues in derivatives trading.
BoA hires two for European structured products group
Banc of America Securities has appointed Andrew Jackson as a European structurer in its global structured products group, with responsibility for originating and structuring pooled and single-name structured credit products.
HHEx to launch China index future by year-end
The Hong Kong Exchanges and Clearing (HKEx) plans to introduce a new China index futures contract before the end of the year.
WestLB dumps top systems for Summit
The global financial markets group of Düsseldorf-based Westdeutsche Landesbank (WestLB) has selected New York-based transaction processing technology company, Summit Systems, for a major consolidation of its systems environment. The integrated system…
Merrill Lynch beefs up Asia-Pacific debt team with new hires
Merrill Lynch has hired Sibo Feng as director in its global credit products group to focus on correlation trading. Feng, who will be based in Tokyo, was previously with Bank of America.
TriOptima completes biggest ever swap tear-up
Swedish financial technology company TriOptima has completed the largest ever swap termination of 11,446 swaps totalling $987 billion.
HSBC hires three for structured products business
HSBC has bolstered its structured products business in Asia, with the addition of new hires from three of its regional rivals, Citigroup, Deutsche Bank and JP Morgan Chase.
Onus now on dealers to guard against currency derivatives scams
Under new rules that become effective on December 1, dealers will have to take greater responsibility for the actions of unregulated individuals that use them as counterparties in off-exchange currency derivatives transactions with investors.