News
Citi to outsource e-liquidity
Citigroup has launched a unique liquidity outsourcing platform for foreign exchange, a senior forex official at Citigroup in New York told RiskNews ' sister publication FX Week .
Clients of settlement members go live today on CLS
Clients of banks that have signed up as settlement members to CLS Bank can from today have their foreign exchange transactions settled on continuous linked settlement (CLS), the system built to reduce risk in the global forex markets.
BoA launches new China receivables capability
Bank of America Global Treasury Services (GTS) has launched a new receivables platform aimed at boosting its China cash management capabilities. The China receivables services will offer clients a renminbi collections services from the end of the month.
Moody's publishes CDO hedge counterparty guidlines
Rating agency Moody's Investors Service today said it has published a series of guidelines outlining the steps by which a collateralised debt obligation (CDO) hedge counterparty can better detach its own credit risk from the CDO itself.
Going short under the SMD
Scott Greene, Mark Niehaus and Pankaj Sahay of PricewaterhouseCoopers look at the effect of settling a short position in the day-ahead market under the Federal Energy Regulatory Commission’s proposed standard market design
Mark-to-market accounting revisited
New risk disclosure and valuation regulations are aiming to revive energy trading in the US, but cumbersome accounting rules may put companies off hedging altogether, finds Catherine Lacoursière
Mistry joins Native American Securities
Azam Mistry, HSBC’s former director of risk management advisory in Asia-Pacific, has re-emerged at Native American Securities in New York as its new head of derivatives marketing and sales.
Kiodex teams with Reuters in Asia and Latin America
Reuters is to market the Risk Workbench platform of New York-based technology company Kiodex to its commodities and energy customers in Asia, Latin America and the Caribbean.
New US online options exchange announces investors
The Boston Options Exchange (BOX), a venture of the Boston Stock Exchange, has announced investment stakes by Credit Suisse First Boston, JP Morgan Chase, Salomon Smith Barney and UBS Warburg. The size of the investments was undisclosed.
Deutsche Bank credit protection trades wider following Q3 losses
The cost of senior debt protection for Deutsche Bank has crept 5 basis points wider to 58bp-mid after the bank posted a third-quarter net loss of €299 million. In otherwise thin markets, credit derivatives traders in London said active buyers of…
Singapore issues risk management guidelines
SINGAPORE - Guidelines on sound risk management practices issued by Singapore regulators today emphasise the three pillars of adequate management oversight, sound risk management policies and strong risk measurement ability.
Currency overlay set to hit $500 billion
Currency overlay, the management of currency exposures in an investment portfolio separate from underlying asset exposures, is set to become a $500 billion dollar industry within the next three years, according to Piero Overmars, Dutch bank ABN Amro’s…
ING provides cross-currency swap for Samsung Card ABS
The Netherlands' ING Bank will provide the cross-currency swap for South Korean consumer finance company Samsung Card’s $400 million of cross-border asset-backed securities, said a spokeswoman for the Korean company.