Risk magazine/News
DTCC signs collaboration agreement withTaiwanese counterpart
The New York-based Depository Trust & Clearing Corporation (DTCC) and the Taiwan Securities Central Depository (TSCD) have signed an agreement to co-operate in their business activities, including sharing information on risk management.
BoA: single-tranche CDOs compensate well for their risks
The additional spread available from single-tranche collateralised debt obligations (CDO) – compared to other portfolio credit products - more than compensates investors for the particular risks associated with tranched products, claims Bank of America …
CBOT partners with Taiwan Futures Exchange
The Chicago Board of Trade (CBOT) announced that it has signed a memorandum of understanding with the Taiwan Futures Exchange to share information on market and product development and potentially work toward developing markets for new derivative…
European Commission welcomes IASB compromise
The European Commission has welcomed yesterday’s International Accounting Standards Board decision to try to allow for ‘macro-hedging’ as part of proposed new accounting standards, due to come into place in 2005.
ABN Amro targets exotic credit derivatives with senior hire
ABN Amro has hired Richard Whittle from UBS as global head of exotic credit derivatives - a new role in the bank’s financial markets business.
Bloomberg hires Hagan for new quant team
Pat Hagan – a former managing director in Bear Stearns’ fixed income research group – has joined Bloomberg’s nascent quantitative research and development group.
IIB Bank selects SAS for Basel II credit risk compliance
Ireland-based IIB Bank, a fully owned subsidiary of KBC Bank, has licensed risk management software from North Carolina-based data management software vendor SAS to meet Basel II credit risk compliance.
IASB relaxes stance on 'macro-hedging'
The International Accounting Standards Board (IASB) today relaxed its stance on ‘macro-hedging’ with its latest proposal to improve derivatives accounting.
DrKW appoints new global head of equity-linked origination
Dresdner Kleinwort Wasserstein (DrKW), the US investment banking arm of Dresdner Bank, has appointed Ken Robbins as a managing director and global head of equity-linked origination.
Deutsche Bank appoints Almeida as head of forex sales
Deutsche Bank has appointed Dan Almeida as global head of foreign exchange sales. In this newly created position, Almeida will be responsible for delivering Deutsche Bank's foreign exchange capabilities to all institutional and corporate clients.
Morgan Stanley appoints Eric Dinallo as head of regulation
Morgan Stanley has hired Eric Dinallo, currently chief of the investment protection bureau in the office of the New York State attorney-general, as a managing director and head of regulatory matters.
RBC reaches settlement agreement in Enron bankruptcy case
The Royal Bank of Canada (RBC) yesterday reached a settlement agreement with Enron Corporation, the Enron Creditors' Committee and Netherlands-based Rabobank, resolving aspects of a share transaction known as ‘Cerberus’, which also involved the use of…
Barcap hires director of corporate risk management from UBS
Barclays Capital has appointed Jonathan Shiff, a former director of fixed-income derivatives at UBS, as a director in its corporate risk management team in New York.
Hedge fund investment inflows reach $13.83 billion in Q2, says Tremont
Hedge funds received a record $13.83 billion in investment inflows at the end of the second quarter of 2003, according to research conducted by US investment adviser Tremont’s Tass Research unit.
Citi grabs King to head credit research group
Citigroup has hired Matthew King as head of quantitative credit strategy in Europe from JP Morgan Chase.
Swiss Re and MMC to launch flood assessment tool
Reinsurer Swiss Re and Czech technology company MultiMedia Computer (MMC) have teamed up to develop a flood risk assessment tool for the Czech insurance market.
Donohue to replace McNulty at CME
The Chicago Mercantile Exchange (CME) announced that James McNulty, president and chief executive, will step down at the end of the year, only one year after taking the exchange public. Craig Donohue will take over as chief executive on January 1…
Falling volatility could lead to a reassessment of investment strategies, says Morgan Stanley
Investors may have to rethink their investment strategies if credit and equity market volatility continues to fall, according to research by Morgan Stanley.
HSBC USA adopts Calypso for equity derivatives
HSBC Bank USA has extended its use of Calypso Technology’s trading and processing platform to include equity derivatives products.
Wall Street Systems appoints Longden
Wall Street Systems, a US provider of treasury and capital markets services, has appointed Chris Longden as regional managing director for Europe, the Middle East and Africa (EMEA). Based in London, Longden will be responsible for managing the sales and…
STP break puts banks at risk
Third-party banks using the continuous-linked settlement (CLS) service may be subject to increasing operational risk as a result of a breakdown in straight-through processing (STP), reports Risk's sister publication FX Week .
S&P hires CreditTrade’s former head of information services
Rating agency Standard & Poor’s (S&P) has appointed Krishna Biltoo, former head of information services at credit derivatives inter-dealer broker CreditTrade, as a managing director of its securities services, Europe.
Equity strategies lead Van Hedge Fund Index growth
Equity-oriented strategies, after benefiting from the stock market's continued gains, have posted the highest returns for July on the Van Hedge Fund Index.
Deutsche bridges private banking and forex
Deutsche Bank is seeing increased foreign exchange business from its private clients following the recent appointment of David Bee in London, Risk's sister publication FX Week reports. Bee is working with Jim Turley, global head of forex in London, and…