News

Isda muddies debt waters

The International Swaps and Derivatives Association (Isda) has finally released its 2003 credit derivatives definitions, which take effect on March 17.

Eulia chief risk officer to run Prmia’s new Paris chapter

Christian Jimenez, chief risk officer for Eulia, the European Financial Alliance formed in 2002 by the Caisse des Dépôts Group and Caisse d'Epargne Group, will head the Professional Risk Managers’ International Association’s (Prmia) first Paris chapter.

Reliant bows out of energy trading

Houston-based Reliant Energy has exited the energy derivatives trading market as a result of an $80 million trading loss it suffered at the end of February.

Vol surge expected from Eastern Europe

Political events in countries slated to join the European Union and the euro are set to trigger a wave of foreign exchange volatility in emerging European countries, market participants said.

Algorithmics launches Algo Risk on Bloomberg

Algorithmics, the Toronto-headquartered provider of risk management software, has launched its Algo Risk risk management application, a product developed in partnership with news and information provider Bloomberg.

Tullett expands SwapMarker coverage

Tullett Financial, a subsidiary of inter-dealer broker Tullett, which provides data on derivatives products, has brought together its North American and European SwapMarker services to offer a single global service for real-time interest rate derivatives…

SG reorganises European forex derivatives sales team

SG, the corporate and investment banking arm of Société Générale, has reorganised its London-based, western European (excluding France) foreign exchange cash and derivatives sales team into two specialised lines.

£60 billion Isis fund signs up to Riskdata

Isis, a £60 billion UK investment fund created through the merger of Friends Ivory & Sime and Royal & SunAlliance Investments at the end of last year, has signed up to use an interactive risk management system developed by Paris-based company Riskdata.

Risk ’s quant of the year backs Buffett

Peter Carr, recipient of Risk 's 2003 quant of the year award, said that in a [hypothetical] argument between quants convinced of the infallibility of their models and derivatives sceptics such as Warren Buffett, he would probably side with Buffett.

Greenspan defends role of derivatives

In a speech today, Alan Greenspan, chairman of the US Federal Reserve, defended the use of derivatives as hedging tools, especially credit derivatives. His comments come in the wake of Warren Buffett’s criticism of derivatives as potential “time bombs”.

Eurohypo selects Front Arena

Eurohypo, the German mortgage bank created by Deutsche Bank, Dresdner Bank and Commerzbank, has selected the Front Arena IT system to manage its interest rate derivatives, fixed-income, credit derivatives, structured products and money markets trading.

Japanese credit default swaps market turns defensive

Japan’s credit default swaps market continued to ignore the threat of war in Iraq, diplomatic tensions with North Korea and weak stock markets, but the mood in Tokyo was nevertheless bearish, and market participants were more keen to buy protection than…

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