Risk magazine/News
Energy brokers form their first trade association
Seven of the largest US over-the-counter energy brokers have formed a trade association with the aim of enhancing the struggling energy trading markets.
KWI hires new financial engineer
KWI, the London-based energy risk management software company, has hired Oleg Zakharov as vice-president of financial engineering – a newly created position. In his new role, Zakharov will be responsible for KWI’s risk management framework, architecture…
Alpha appoints Rogers to new UK marketing role
New York-based Alpha Investment Management has hired Carcie Rogers to boost its marketing efforts to large financial institutions in the UK and the rest of Europe.
Reuters adds US/Singapore dollar forward pair to dealing platform
Dealers will be able to trade US dollar/Singapore dollar forwards on Reuters' electronic matching service from today, according to the UK information and technology group.
CreditTrade plans to offer web-based data service
CreditTrade, the London-based interdealer-broker and provider of credit derivatives data, plans to launch a new web-based data service, CreditTrade Insight, early next year.
US investors complacent about currency risk, says Merrill
A decade of US asset and currency outperformance has engendered complacency among US-based equity investors, according to Merrill Lynch’s foreign exchange strategy group.
Citi to outsource e-liquidity
Citigroup has launched a unique liquidity outsourcing platform for foreign exchange, a senior forex official at Citigroup in New York told RiskNews ' sister publication FX Week .
Clients of settlement members go live today on CLS
Clients of banks that have signed up as settlement members to CLS Bank can from today have their foreign exchange transactions settled on continuous linked settlement (CLS), the system built to reduce risk in the global forex markets.
BoA launches new China receivables capability
Bank of America Global Treasury Services (GTS) has launched a new receivables platform aimed at boosting its China cash management capabilities. The China receivables services will offer clients a renminbi collections services from the end of the month.
Moody's publishes CDO hedge counterparty guidlines
Rating agency Moody's Investors Service today said it has published a series of guidelines outlining the steps by which a collateralised debt obligation (CDO) hedge counterparty can better detach its own credit risk from the CDO itself.
Mistry joins Native American Securities
Azam Mistry, HSBC’s former director of risk management advisory in Asia-Pacific, has re-emerged at Native American Securities in New York as its new head of derivatives marketing and sales.
Kiodex teams with Reuters in Asia and Latin America
Reuters is to market the Risk Workbench platform of New York-based technology company Kiodex to its commodities and energy customers in Asia, Latin America and the Caribbean.
New US online options exchange announces investors
The Boston Options Exchange (BOX), a venture of the Boston Stock Exchange, has announced investment stakes by Credit Suisse First Boston, JP Morgan Chase, Salomon Smith Barney and UBS Warburg. The size of the investments was undisclosed.
Deutsche Bank credit protection trades wider following Q3 losses
The cost of senior debt protection for Deutsche Bank has crept 5 basis points wider to 58bp-mid after the bank posted a third-quarter net loss of €299 million. In otherwise thin markets, credit derivatives traders in London said active buyers of…
Currency overlay set to hit $500 billion
Currency overlay, the management of currency exposures in an investment portfolio separate from underlying asset exposures, is set to become a $500 billion dollar industry within the next three years, according to Piero Overmars, Dutch bank ABN Amro’s…
ING provides cross-currency swap for Samsung Card ABS
The Netherlands' ING Bank will provide the cross-currency swap for South Korean consumer finance company Samsung Card’s $400 million of cross-border asset-backed securities, said a spokeswoman for the Korean company.
RiskMetrics links fixed-income trading system to its risk management system
RiskMetrics Group, the New York-based risk analytics and technology firm, is integrating a pricing and portfolio analytics system into RiskManager, its flagship web-based application for the measurement and analysis of market-based value-at-risk.
JP Morgan signs up 18 CLS third-party customers
JP Morgan Treasury Services, a unit of JP Morgan Chase, has signed up 18 third-party service customers to allow them access to continuous linked settlement (CLS). The third-party service contracts allow counterparts to settle their foreign exchange…
Prebon Yamane launches py match for Singapore dollar
Brokerage house Prebon Yamane Asia-Pacific has extended py match, its online automated matching system for floating rate reset risk positions in swap portfolios, to include Singapore dollars.
Singapore issues risk management guidelines
Guidelines on sound risk management practices issued by Singapore regulators today emphasise the three pillars of adequate management oversight, sound risk management policies and strong risk measurement ability.
Airline exposures cast shadow over CDOs and derivatives trading
Collateralised debt obligation (CDO) investors assessing their credit risk exposure should be aware that recovery prospects among airlines bonds vary dramatically from company to company, according to Goldman Sachs.
Vivendi spreads widen due to Cegetel bid fears
Credit protection spreads on Vivendi Universal debt widened by 60 basis points yesterday as speculation again mounted that the French telecoms company would attempt to boost its stake in French mobile telephone company Cegetel. Five-year credit default…
Defaults by EU companies outpace global and US counterparts, says S&P
The default rate in the European Union (EU) continued to outpace its global and US counterparts during the third quarter, according to rating agency Standard & Poor's (S&P). A total of 20 rated EU entities have defaulted on rated debt worth $8.7 billion…
EU Cad 3 paper delayed to mid-November
The European Commission hopes to issue an update on progress with its complex third bank capital adequacy directive (Cad 3) in mid-November, a delay to its original plan to publish a paper in late October, a commission spokesman said.