Risk magazine/News
Bank of America strengthens structured credit team
Bank of America (BoA) has hired Sean Rice and Justin Dash as principals within its global structured credit products' marketing and origination team.
JP Morgan and Morgan Stanley launch Tracx emerging markets
JP Morgan Chase and Morgan Stanley have launched the Tracx Emerging Markets (Tracx EM) index, the latest addition to the Tacx global suite of credit default swap (CDS) indexes created by the two US financial services firms.
Event-driven hedge fund strategies post strong returns
Event-driven strategies are the leading growth component in the S&P Hedge Fund Index, generating a 10.38% return for the year-to-date, according to Standard & Poor’s.
OneChicago trades one-millionth SSF contract
OneChicago, the joint single-stock futures venture of the Chicago Board Options Exchange, Chicago Mercantile Exchange and the Chicago Board of Trade, traded its one-millionth contract this morning, the exchange said in a statement.
Prebon Yamane goes live with SwapsWire in Tokyo
Brokerage house Prebon Yamane has gone live with SwapsWire in Asia, making it the first brokerage house in Tokyo to use the system since it went live in Japan last month.
CLS to include South Korean won
CLS Bank, which operates the continuous-linked settlement service for foreign exchange, plans to include the South Korean won as a CLS-eligible currency.
JPMC’s Puth to relocate to London
David Puth, global head of forex and commodities at JP Morgan Chase in New York, will transfer to London on August 26.
Steady increase in pay for North American equity derivatives specialists, reports Greenwich
Compensation to equity derivatives investors increased steadily last year, according to research by Greenwich Associates, a Connecticut-based consulting company.
CAI adds to emerging markets forex team
Crédit Agricole Indosuez has added to its emerging markets team in South-east Asia.
Deutsche loses top forex quants
Deutsche Bank, which claims in promotional material to possess a foreign exchange options business that is “unsurpassed” by its competitors, has lost its head of foreign exchange products development William McGhee, and his deputy Andrew Jacobs. The pair…
Resecuritisation set for rapid growth in Japan, says Moody's
Resecuritisation deals - collateralised loan obligations (CLOs) backed by structured finance securities - are likely to grow in Japan, according to a report issued this week by Moody’s Investors Service.
US credit default swaps and CLN markets recovering, says S&P
The US credit default swaps (CDS) and credit-linked notes (CLN) markets are recovering from a lull in activity, according to rating agency Standard & Poor’s (S&P).
Swaps trader awarded £1m in Cantor Fitzgerald case
Steven Horkulak has won his constructive dismissal court case against the US swaps broker Cantor Fitzgerald, his former employer, for loss of salary and discretionary bonus, a sum totalling around £1 million.
Japanese CJ50 index reaches ¥10 billion on first trading day
The CJ50 index that tracks the movement of Japan’s 50 most actively traded credit default swaps started trading today, with volume reaching beyond ¥10 billion ($83 million), according to BNP Paribas.
Isda and BMA propose 35% charge for restructuring risk
The International Swaps and Derivatives Association (Isda) and the Bond Market Association (BMA) submitted a comment letter today to the Basel Committee on Banking Supervision in which they argued that, for the sake of capital calculations, loans hedged…
Front to boost product development with new hire
Front Capital Systems, a Stockholm-based operating unit of Pennsylvania-based technology company SunGard, has appointed Mats Lillienberg as chief technology officer in a bid to expand its product development.
Basel II Forum USA: Speakers stress feedback can still shape regulation
With the commentary period for the Basel Committee on Banking Supervision’s final consultative paper (CP3) officially ending tomorrow, two speakers at Risk ’s Basel II Forum USA urged banks to be vocal about concerns related to the implementation of…
Trema appoints McKibbin to lead sales effort
Trema has named Aislinn McKibbin as the new head of global sales in its financial institutions segment. McKibbin will be responsible for the development of Trema’s market share.
LME lines up Axa's Brydon as new chairman
The London Metal Exchange (LME) has appointed Donald Brydon, chairman of Axa Investment Managers, as an independent, non-executive director.
Allegheny sells $405m of energy supply contract to Goldman Sachs
Allegheny Energy yesterday took a step towards reducing its exposure to energy trading by selling an energy supply contract to a subsidiary of Goldman Sachs for $405 million.
Deutsche unveils IT 'vision' for derivatives
Deutsche Bank has started a radical overhaul of its derivatives technology that, internally, it is calling its 'vision programme’ for derivatives. The bank has now entered the first six months of an ambitious three-year programme designed to overhaul the…
Barra upgrade targets investment professionals
Barra, the Berkeley, California-based risk management technology vendor, has released a new version of its web-based risk analysis tool BarraOne, designed to make risk management more accessible to a broader range of investors.
Third-party CLS take-up slows
Take-up of the continuous-linked settlement (CLS) service by third-party banks is slowing as a result of time-consuming back-office changes and a waning sense of urgency, CLS project managers told RiskNews ' sister publication, FX Week .
JP Morgan, Citigroup pay $255 million in Enron, Dynegy settlement
The Securities and Exchange Commission (SEC) today settled enforcement proceedings brought against JP Morgan Chase and Citigroup. Both firms’ settlements pertain to Enron-related proceedings brought by the SEC. Under the agreements, JP Morgan Chase will…