News
Peter Davies joins RiskMetrics
Peter Davies, one of the leading developers of risk management systems over the past decade, has re-emerged after a summer break in a new position as vice-chairman of RiskMetrics, the New York based risk advisory firm.
S&P highlights CDOs’ evolution from risk transfer tool to investment product
Issuers are increasingly viewing synthetic collateralised debt obligations (CDOs) as a way of creating tailored investment products, rather than simply a method for transferring an entire portfolio of credit risk, claims rating agency Standard & Poor’s.
Peter Davies joins RiskMetrics
Peter Davies, one of the leading developers of risk management systems over the past decade, has re-emerged after a summer break in a new position as vice-chairman of RiskMetrics, the New York based risk advisory firm.
Commerzbank credit protection costs double in a week
The cost of credit protection for Commerzbank has nearly doubled over the last week. The widening follows rumours of large credit derivatives trading losses at the German bank and a cut in its long-term credit rating from A to A- yesterday from Standard …
US banks beat European and Asia-Pacific counterparts in managing risk
European and Asia-Pacific banks lag behind their North American rivals in using risk management tools to generate shareholder value, according to research from London-based management, systems and technology consulting firm, PA Consulting Group.
Cognotec launches Autodeal Plus with buy-side target
Ireland-based foreign exchange trading software vendor Cognotec has launched the next generation of its Autodeal pricing and trading system.
Equity put–credit default swap arbitrage opportunities disappearing, say US dealers
Jeremy Howard, head of US convertibles research at Deutsche Bank in New York, has said that the days of buying low-strike equity put options to hedge sales of credit default swap protection are largely gone.
Fed's Gordy criticises Basel II procyclicality adjustment
NEW YORK - The procyclicality ‘smoothing’ adjustment technique likely to form part of the Basel II capital Accord is sub-optimal, according to Michael Gordy, a senior economist in the research and statistics division of the Board of Governors of the…
CME to launch Eagle Project in mid-November
US futures exchange, the Chicago Mercantile Exchange (CME), said this week that it plans a mid-November launch for its Eagle Project, which will permit electronic calendar spread trading on its Globex electronic trading platform.
Bond Market Association warns Congress of catastrophe bond market disruption
Christopher McGhee, head of insurance risk-linked securities trading at insurance and reinsurance broker Marsh & McLennan Securities in New York, told a US House of Representatives financial services subcommittee yesterday that pending accounting changes…
Bear Stearns recruits futures sales team to target hedge funds
Bear Stearns has recruited an eight-person futures sales team to target hedge funds, led by industry veteran Roland Morris, for its interest rate futures department.
Lehman Brothers hires head of fixed-income Asia
Lehman Brothers has promoted Hyung Soon Lee, currently head of high-yield Asia, to head of fixed-income Asia.
Cruickshank to leave LSE in July 2003
London Stock Exchange’s (LSE) Don Cruikshank has said he will not seek re-appointment as chairman at the exchange’s next annual general meeting in July 2003.
CME to launch Eagle Project in mid-November
US futures exchange, the Chicago Mercantile Exchange (CME), said this week that it plans a mid-November launch for its Eagle Project, which will permit electronic calendar spread trading on its Globex electronic trading platform.
CSFB launches fixed-income indexes on Bloomberg
Swiss bank Credit Suisse First Boston (CSFB) has released its Liquid Global fixed-income indexes on data vendor Bloomberg's data terminals. CSFB clients will be able to access all of CSFB's liquid bond indexes, including the Liquid US Corporate Index …
Fed’s Gordy criticises Basel II procyclicality adjustment
The procyclicality ‘smoothing’ adjustment technique likely to form part of the Basel II capital Accord is sub-optimal, according to Michael Gordy, a senior economist in the research and statistics division of the Board of Governors of the Federal Reserve…
Japan's SMBC prepares credit derivatives desk
Japan’s Sumitomo Mitsui Banking Corporation (SMBC), one of the country’s big four banking groups, is planning to set up a dedicated Japanese credit derivatives desk by the end of the year.
Goldman Sachs appoints derivatives marketeer for Swiss clients
Goldman Sachs has expanded its European fixed-income corporates team with the appointment of Maroan Maizar to run its foreign exchange and derivatives marketing effort for Swiss clients.
JP Morgan Chase taps Juice in New York
JP Morgan Chase’s North American Credit Markets group in New York has deployed New York-based Juice Software’s technology to consolidate and deliver real-time prices from multiple sources, according to officials involved.
Small coffee producers in Nicaragua access risk markets
The first international price insurance transaction for small coffee producers in Latin America was implemented last week in Nicaragua, with support from the World Bank’s Commodity Risk Management Group (CRMG), a unit of the International Task Force on…
FX options business booming
Banks are expanding FX options teams in London and Asia in response to increased interest in derivatives from clients, officials told RiskNews’ sister publication FX Week .
UBS hires Asian credit trader
UBS Warburg has bolstered its Asian credit derivatives team, with the appointment of Anders Haagan as director of credit derivatives trading in Singapore.
Alpha Investment Management appoints new managing director for risk management
Alpha Investment Management, a provider of hedge funds and fund of funds, with $2.2 billion in assets under management, has appointed Bruce Schreiber as managing director for risk management. Schreiber will be responsible for overseeing all of Alpha's…
Deutsche Postbank ramps-up FX trading
German savings bank Deutsche Postbank is to add seven more foreign exchange traders to its new trading floor in Frankfurt, a spokesperson told RiskNews’ sister publication FX Week . When completed, the expansion - which started with the relocation of its…