Risk magazine/News
Derivatives dealers report business as usual after power cut
Major derivatives dealers say their systems coped well with yesterday’s power cuts in New York and report that trading is continuing as normal.
UK warrants market sees growth on the back of equity rally
The upturn in equity markets that began in the spring has led to increased investor interest in UK warrants, according to Goldman Sachs. But the UK warrants market, which was launched in October by the London Stock Exchange (LSE), has yet to see…
CME to close open-outcry pits an hour early
The Chicago Mercantile Exchange (CME) will close pit trading in open-outcry interest rate products, including its flagship Eurodollar futures contract, an hour earlier – at 1pm – than normal as a result of the power cuts in the New York region, the…
US/Canadian blackouts 'could have been avoided'
Blackouts in the US that have left 50 million people without power would probably have been avoided had delayed reliability legislation been passed several years ago, according to the CEO and president of the North American Electric Reliability Council …
Union Planters picks Principia Partners’ treasury risk service
Union Planters, a US regional bank based in Memphis, Tennessee, has selected Principia Partners’ treasury risk service to manage the bank’s derivatives trading.
ANZ appoints director of financial markets for Europe and US
Australia and New Zealand Investment Bank (ANZ) has appointed Gilles Planté as director of its financial markets business for Europe and the US. He was previously director of commodities and foreign exchange derivatives, a post he has held since 1997.
Stanfield Capital names Yeager as head of risk management
Stanfield Capital Partners, an investment management company, has appointed Gordon Yeager as managing director and head of risk management. He will be responsible for risk management across all investment strategies.
Ziff transfers to Mercer Oliver Wyman from Nera
Bradley Ziff has joined Mercer Oliver Wyman (MOW), a subsidiary of Marsh & McLennan, as a director to help with the consultancy’s global efforts in operational risk consulting.
Investors cut US hedge fund allocations by 14% in Q2, says Reuters poll
Investors cut allocations to hedge funds by 14% between April and June this year, and more than doubled investments in the safest alternative strategies, according to the LJH-Reuters poll of hedge fund managers.
Wall Street Systems to offer Treasury Engine on Linux
Wall Street Systems, a US provider of treasury and capital markets services, will offer its flagship product, Treasury Engine, on the Linux operating system from September.
CME and UK's Met Office to launch European weather derivatives
The Chicago Mercantile Exchange (CME), the UK's Met Office and its joint venture company, Weather Xchange Limited (weatherXchange), have unveiled plans to jointly develop global weather futures and options contracts.
Basel II creates myriad problems for US investment banks
Basel II is causing substantial problems for US investment banks whose overseas subsidiaries may receive harsh treatment under the new capital regime and whose home regulator, the Securities and Exchange Commission (SEC), says it is unsure when it will…
Commerzbank selects SunGard’s Credient Analytics
Commerzbank has selected Credient Analytics, the credit analytics service provided by SunGard Trading and Risk Systems, to handle investment banking credit exposure.
Forex dealers leave Fimat Chicago
Fimat, the brokerage arm of French investment bank SG, shed four staff from its US dealing team earlier in August, sources close to the company told RiskNews ' sister publication FX Week .
ABN Amro to go global with Dealstation
Dutch bank ABN Amro is planning a global debut next year for Dealstation, its white-labelled, foreign exchange trading platform, bank officials told RiskNews ' sister publication Trading Technology Week .
Italy's Abaxbank builds treasury unit with forex options appointment
Milan-based Abaxbank has hired its third new treasury team member this year. The new arrival is Cinzia Lacopone in foreign exchange options.
Bear Stearns snares another CSFB credit derivatives head
US investment bank Bear Stearns has snared another top credit derivatives executive from Credit Suisse First Boston (CSFB) following its appointment of Mark Davies as global head of credit derivatives in May.
MFA publishes 2003 sound practices for hedge fund managers
The Managed Funds Association (MFA), a voice for the hedge fund industry, has submitted its 2003 Sound Practices for Hedge Fund Managers to the Securities and Exchange Commission (SEC).
Deutsche forex quant Jacobs follows McGhee to Citi
Deutsche Bank’s former deputy head of foreign exchange products development, Andrew Jacobs, is set to join his old boss, William McGhee, at Citigroup.
Derivatives expert Kim rises another rung at Merrill Lynch
Dow Kim, the Korean-born fixed-income derivatives profit generator at Merrill Lynch, has been named co-head of global markets and investment (GMI) banking at the US investment bank, following the departure of Arshad Zakaria.
Derivatives industry achieves new targets in confirmation processing, says Isda
The derivatives industry is setting and achieving new targets on confirmation processing, according to the International Swaps and Derivatives Association.
Prmia names Ahmad as regional director for Washington DC
The Professional Risk Managers’ International Association (Prmia) has named Syed Ahmad as its first regional director for the association’s newest chapter in Washington DC.
Isda releases new draft of FpML 4.0
The International Swaps and Derivatives Association has released the second working draft for Financial products Markup Language (FpML) version 4.0.
LSE appoints Stuchfield to head equity derivatives business
The London Stock Exchange (LSE) has appointed Nic Stuchfield as managing director of EDX London, the LSE-controlled derivatives exchange in which Sweden's OM holds a minority stake.