News
CEIOPS looks at Solvency II developments
The Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) held its Members’ Meeting, where it addressed the development of Solvency II and approved its final “Answers to the European Commission’s third wave of Calls for Advice in…
CBOT to list electronic ag futures
The Chicago Board of Trade will list agricultural futures on its electronic trading platform from August, in a move it says was driven by customer demand.
UK pension deficits cut by 61%
The pension deficits of the UK’s 200 largest defined benefit schemes have declined by 61% in the first four months of the year because of increasing returns from the equity and bond markets, according to research from Aon Consulting. Deficits now stand…
Of MiFID and Market Data
The EU's Markets in Financial Instruments Directive will dramatically transform the structure of the market data industry, according to market participants.
Fisco publishes study on barriers to cross-border securities trading
The European Commission’s Clearing and Settlement Fiscal Compliance expert group (Fisco) has issued a fact-finding study examining EU fiscal compliance procedures for clearing and settlement of cross-border securities transactions. The study analyses how…
CEBS extends the deadline for responses to questionnaire on large exposures
The Committee of European Banking Supervisors (CEBS) has granted an extension to the deadline for industry to comment on the EC’s call for advice on large-exposure rules following industry concerns related to the tight timeline. The revised deadline is…
FSA publishes letter detailing views on fighting money laundering
The Financial Services Authority (FSA) has today published a letter written to Ian Mullen, chair of the Joint Money Laundering Steering Group (JMLSG), detailing implications of the group’s guidance to the development of the Anti-Money Laundering (AML)…
BoA bolsters rates team with ex-Morgan Stanley duo
Bank of America has hired two senior interest rate traders from rival Morgan Stanley, as it seeks to bolster its trading and rates teams across Europe, Middle East and Africa (EMEA). Tim Yip started last month, and was joined by Ferruccio Ferrara last…
CDS buyers should beware of de-mergers, warns Fitch
Investors in credit default swaps (CDS) could find their holdings unexpectedly affected by corporate spin-offs and de-mergers, rating agency Fitch has warned.
BNP hires Citi forex options head
BNP Paribas has hired a number of foreign exchange employees from rivals Citigroup and Barclays Capital, as the French bank continues a drive to increase its presence in the US and Europe.
Reuters signs two Gulf clients for risk management tool
Reuters has signed two deals in Dubai and Qatar for the use of its risk management platform, Kondor. The Department of Finance (DoF) in Dubai and the Commercial Bank of Qatar (CBQ) have purchased the trade and risk management product suite.
EC updates FSAP imposition tables
The EC has updated its tables on the transposition of the Financial Services Action Plan (FSAP), detailing the current state of play specific to each of the member countries. Greece and Luxembourg are currently the most behind in implementing the…
Icap buys EBS currency broker for $775m
London-based inter-dealer broker Icap has bought currency broker EBS for $775 million in cash.
Fitch sees stable credit risk for iTraxx Asia ex-Japan Series 5
The credit risk of the overall iTraxx Asia ex-Japan Series 5 credit default swap (CDS) index is “broadly stable” following its rollover from Series 4, notwithstanding a ratings deterioration of certain tranches within the index, according to a report by…
S&P to release report on use of data in IRB systems
Standard & Poor’s (S&P) will shortly release a white paper concerning the use of the company’s ratings default data in internal ratings systems for low default portfolios. S&P, expected to offer the report on general release next week, examines the…
LSE £510 million payout goes ahead
Shareholders in the London Stock Exchange (LSE) yesterday backed the board's £510 million payout plan, as consolidation manoeuvring continued.
BNP Paribas to expand equity derivatives team by 200
BNP Paribas is increasing the headcount of its equity derivatives division by almost a third, in an effort to tap the growing demand for equity-linked products from emerging markets. In an interview with RiskNews , the bank’s global head of equities and…
Markit to calculate iTraxx values
Frankfurt-based International Index Company (IIC) has appointed UK-based data services provider Markit as exclusive calculation agent for the iTraxx indexes, which track the prices of credit derivatives.
Moulds appointed president of EMEAA at BoA
Jonathan Moulds is to take over from William Fall as president of Europe, Middle East, Africa and Asia (EMEAA) at Bank of America in London following Fall’s announcement of retirement after 11 years at the bank. The appointment will be effective…
Barna leaves Merrill for Deutsche equity role
Peter Barna has joined Deutsche Bank in New York as a director in the bank’s US convertible and equity linked solutions group. He comes from Merrill Lynch, where he worked for eight years, most recently as director in equity linked capital markets with…
globalCOAL and Icap settle dispute
globalCOAL and Icap Energy have settled the legal dispute between them on the use by Icap of price screens in NEWC coal swaps. Icap has formally agreed not to offer its clients electronic trading or indicative price services in NEWC or other globalCOAL…