Exchanges
UK central banker warns against half-baked contingency plans
DISASTER RECOVERY
The Basle II capital accord: op risk proposals in brief
BASLE II UPDATE
Opinion: Credit derivatives – don’t disable the concept
Standardising the credit derivatives market could paralyse it, argues Ralf Lierow, director of portfolio management, Europe, equipment and sales financing, Siemens Financial Services
Static data moves forward
Firms tackling high-speed and information-intensive tasks such as straight-through processing or risk management without accurate instrument and counterparty reference data may be taking enormous operational and credit risks. Clive Davidson reports on…
Retail product design innovations
Retail investors the world over are looking for alternatives to the faltering stock and fixed-income markets. Derivatives dealers looking to tap this demand are rolling out new products and revising old ones for the retail audience. John Ferry and Navroz…
AngloGold cuts hedging by 12%
South Africa’s largest gold producer, AngloGold, reduced its hedge book by 12% in the first quarter, as it moved to gain exposure to a rising spot price.
Euronext to launch dedicated warrants platform
Pan-European exchange Euronext is set to launch a platform dedicated exclusively to warrants, in a move designed to enhance the visibility of the market and promote trading.
GFI and ACM offer online freight derivatives
New York-based brokerage GFI has teamed with shipping brokers ACM in London to offer online freight derivatives trading on GFInet, the firm’s electronic broking platform.
LSE predicts UK equity derivatives surge
Clara Furse, chief executive of the London Stock Exchange (LSE), today warned that stamp duty on UK share trading could increasingly damage London’s competitive advantage in international financial markets and thereby reduce the likelihood of the UK…
Isda AGM: UBS Warburg Energy to expand online product offering
UBS Warburg Energy may add interest rate swaps along with metals and currency derivatives to the online energy-trading platform it bought from bankrupt energy trader Enron in January this year.
SFE appoints market makers for options
The Sydney Futures Exchange (SFE) has appointed two official market makers for its SPI 200 options contract in an attempt to enhance the liquidity of the exchange-traded options market.
HKEx to delist forex futures
Hong Kong Exchanges and Clearing (HKEx) will delist its one-day rolling currency futures contracts for euro, yen and sterling on May 21.
Eurex to offer Stoxx sector futures in US
Eurex, the Swiss-German derivatives exchange, will start offering Dow Jones Stoxx 600 Bank and Dow Jones Euro Stoxx Bank index futures in the US today after receiving the regulatory go-ahead.
Chaos reigns at new hedge fund
London-based hedge fund manager HED Capital Management is set to launch a new $200 million fund, dubbed the Beaufort Chaos Fund, by June. HED claims its chaos theory-based strategy obviates the need for derivatives.
Basel II op risk survey planned for June 1
Global banking regulators hope to issue another survey on June 1 seeking information from banks on their operational losses in order to help with the development of the complex, risk-based Basel II bank capital adequacy Accord, regulators said.
Basel II securitisation paper planned for October
Global banking regulators plan to issue on October 1 a working paper on the treatment of asset securitisation in the Basel II banking Accord, one of the issues that prompted its delay until late 2006.
CME and GSCC team to offer eurodollar futures cross-margining
Clearing members of both the Chicago Mercantile Exchange (CME) and the Government Securities Clearing Corporation (GSCC) can start cross-margining buy-sell and repo US government securities against eurodollar futures and options from April 12.
Mitsui Sumitomo builds unemployment rate derivatives
Japan's Mitsui Sumitomo Insurance plans to develop derivatives linked to unemployment rates in Japan as a means for companies to hedge their exposures to large fluctuations in domestic unemployment rates.
HKEx to launch Dow futures next month
Hong Kong Exchanges and Clearing (HKEx) plans to start trading Dow Jones Industrial Average (DJIA) futures on its subsidiary, the Hong Kong Futures Exchange, by May 6, according to HKEx.
Electronic platforms short circuit
E-trading
Eurex blames dealers for system limits
Swiss-German derivatives exchange Eurex is clamping down on dealers that overload its system with transactions and price information. The exchange said the growing use of automated quote engines by dealers threatens to overload its trading capacity and…