News
Fimat to launch global hedge fund index
Fimat Global Fund Services, the prime brokerage arm of Fimat International Banque, plans to add to the growing number of hedge fund indexes in the market with the launch of a volatility arbitrage hedge fund index in the next few weeks.
European securitised credit risk transfer set to rise by 15%, says Moody’s
The amount of credit risk transferred in European securitisation deals will increase 15% to €400 billion this year, credit rating agency Moody’s predicted today.
BIS issues "problem bank structure" rules
The Bank for International Settlements (BIS) issued two papers near the end of January aimed at curbing money laundering and fraud by clamping down on problematic banking structures.
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…
Bank One to hire six forex options traders
Chicago-based Bank One is set to hire six foreign exchange options staff around the world in a bid to capture more top-tier corporate business.
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…
Corporate defaults at new record levels last year, says S&P
Global corporate defaults last year were at new record levels, with 234 companies defaulting on $178 billion of debt, according to credit rating agency Standard & Poor's (S&P).
BNP Paribas to launch managed synthetic CDO in Japan
French bank BNP Paribas is on the verge of closing a ¥140 billion ($1.19 billion) managed synthetic collateralised debt obligation (CDO) with Japanese asset management firm Daiichi Life-IBJ Asset Management (DIAM). Expected to close in mid-February, the…
ABN Amro hires head of European bank origination
ABN Amro has hired Tim Skeet, a senior debt capital markets banker, as head of European bank origination.
GFI creates standalone chief financial officer role
Inter-dealer broker GFI has hired James Peers, a former Bank One executive, as its chief financial officer.
Euro swap rates hit historic lows
The two-year euro swap rate hit its lowest-ever level today, 2.56%, as investors continued to adopt a risk-aversion stance in the markets
Refco hires new London FX head
Futures commission merchant Refco has named Farooq Muzammal as its new head of foreign exchange in London.
Japan credit default swaps continue technical tightening
Credit default swap spreads in Japan were tighter across the board this week, with some protection sellers posting aggressive offers on the market, dealers said today.
Japan to complete Indonesia forex swap
The Japanese Ministry of Finance (MoF) and the central Bank of Indonesia will sign a delayed foreign exchange swap deal in mid-February, the MoF said this week.
HVB protection surges on downgrade
The cost of senior credit protection for the five-year debt of Germany's HypoVereinsbank (HVB) has surged nearly 30 basis points this week following a two-notch downgrade of its unsecured deposit and debt rating by Moody’s late on Wednesday.
CDO managers target leveraged loans, says S&P
European collateralised debt obligation (CDO) managers are likely to target leveraged loans this year, said the European structured finance ratings unit of Standard & Poor's (S&P) today.
Moody’s to give more weight to operational risk when rating banks
Moody's Investors Service will focus more on operational risks when rating banks, the rating agency said today.
G-30 Proposes Global Clearing and Settlement Reforms
London — Today the Group of 30 proposed a series of 20 major reforms for the clearing and settlement infrastructure of the global capital markets.
New chairman for Committee on Global Financial System
Roger Ferguson, vice-chairman of the Board of Governors of the Federal Reserve System, was named chairman of the Basel-based Committee on the Global Financial System (CGFS), the Bank for International Settlements said today.
UK stockbroker to buy Tullett for up to £250 million
Publicly quoted UK stockbroker Collins Stewart has made a £250 million bid for UK inter-dealer broker Tullett. The largely share acquisition has received approval from most of Tullett’s shareholders and is scheduled for completion within two months.
G30 proposes major clearance reforms and emphasises risk issues
The Group of Thirty (G30), an association of private and central bankers, today issued an ambitious blueprint for a reform of the global securities clearing and settlement system. The initiative comprises 20 recommendations, designed to reduce investor…
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…
New Tullett chief Smith plans expansion in rates swaps and energy
Terry Smith, chief executive of Collins Stewart, the UK stockbroker taking over inter-dealer broker Tullett for £250 million, said expansion in interest rate swaps and energy derivatives would be a key area of growth for the combined entity.