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US listed equity option competition set for increase
Competition in the US equity options market is set to increase with the electronic linkage of five exchanges.
Top dealers plot ‘Project Red’ revival
The backers of ‘Project Red’, a credit derivatives reference entity database (Red) set up by top dealers Deutsche Bank, Goldman Sachs and JP Morgan to remove basis risk in credit trading, have conditionally agreed to sell the service to UK credit risk…
Software survey 2003
Credit technology hogged the spotlight in 2002, as the spectacular collapse of a host of corporate giants combined with movement on the Basel II Accord focused everyone's attention on this class of exposures.
CreditTrade launches credit derivatives web service
CreditTrade, the London-based inter-dealer broker and provider of credit derivatives data, has launched its new web-based data service, CreditTrade Insight.
OneChicago offers free analytics to boost SSF trading
OneChicago, a joint venture between Chicago’s three largest exchanges, will offer customers a new research and analytics system today called OneChicago Analytics.
Niche lenders brace for Basel
Banks with niche lending businesses are scrambling to assemble enough data to allow them to benefit from Basel II's most advantageous capital provisions. Gallagher Polyn reports on one successful initiative.
Clearing will solve energy market woes, says University of Houston
Over-the-counter clearing of energy derivatives contracts could provide the market with the required transparency to help rebuild the energy trading industry, according to research by Global Energy Management Institute (GEMI) at the University of Houston…
Malaysian bourse plans to launch single-stock futures
The Malaysia Derivatives Exchange (MDEX) plans to introduce single-stock futures (SSFs) by the first quarter of this year. The move is expected to boost liquidity in the country’s stock and derivatives markets, said Zaha Rina Zahari, chief operating…
HKEx considers risk leagues for listed companies
The Hong Kong Exchange and Clearing (HKEx) is considering splitting its listed companies into different leagues according to their risk profiles, the HKEx said last Friday in an in-house publication. The move is aimed at quelling investor concerns of a…
Taiwan to launch first ETF
The Taiwan Stock Exchange (TSE) has granted a licence to asset management company State Street Global Advisors and Taiwanese securities firm Polaris International Securities Investment Trust to launch the country's first exchange-traded fund (ETF). The…
Deutsche and CME try to revive Russian rouble futures trading
Deutsche Bank has committed to providing bid and offer prices on Russian rouble futures for the Chicago Mercantile Exchange (CME), in a move designed to capitalise on revived interest in Russia by Western investors. It is the first time the contract has…
Measuring the operational risk of fund valuation companies
How can we model the losses due to operational risk in asset management? The loss process approach provides an answer specifically suited to this question for the fund valuation business and is in line with the work in progress of the Basel Committee on…
Dairy futures take off as CME sees record performance
The market for milk futures and options on the Chicago Mercantile Exchange (CME) has set open interest records over the past two days, reaching 7,805 positions on January 15. This month, an average of 1,000 contracts a day have far surpassed average…
Ice opens doors to futures exchange traders
Atlanta-based commodities exchange IntercontinentalExchange (Ice) has received approval from the US Commodity Futures Trading Commission (CFTC) permitting registered traders and locals with floor or electronic trading privileges on any regulated US…
Indian regulator delays derivatives trading on six stocks
The Securities and Exchange Board of India (Sebi) has asked the country's two major exchanges to delay derivatives trading on six stocks, following an investigation into an alleged stock market "scam" in 2001.
Ethical ETF launches on Borsa Italiana
A new euro-denominated ethical index exchange-traded fund (ETF) started trading on the Borsa Italiana – the Italian stock exchange – today. The Ethical Index Euro ETF (ticker B1ET IM) is the first ethical ETF in Italy.
Eurex to go head-to-head with CBOT
European derivatives exchange Eurex plans to launch a US exchange that will compete directly with the Chicago Board of Trade (CBOT).
CBOT to use Liffe Connect
The Chicago Board of Trade (CBOT) has entered a licensing agreement to use Liffe Connect, the derivatives trading system used by pan-European exchange Euronext.Liffe, replacing the existing a/c/e platform currently being licensed from Eurex. The move…
Kat to set up Alternative Investment Research Centre in London
Harry Kat, a former derivatives banker and quantitative finance academic, has been made professor of risk management at the Sir John Cass School of Business at City University in London. Kat, an author of numerous quantitative finance papers and former…