News
SG appoints director of structured products in Tokyo
SG, a division of French banking group Société Générale, has boosted its Tokyo-based structured products team with the appointment of Soon-Il Lee as a director of the group.
HypoVereinsbank moves for Japanese credit derivatives licence
HypoVereinsbank is preparing to apply for a licence that would allow it to trade credit derivatives in Tokyo. The move comes as the German bank has significantly beefed up its credit derivatives and securitisation teams in Asia.
Credit Markets Update: Iberian credits tighten following IMF's Brazil bail-out
The International Monetary Fund's (IMF) $30 billion rescue package for Brazil, announced yesterday, generated a positive response from financial markets participants and caused the credit default protection on Iberian names to narrow.
Pardue resigns from Morgan to set up alternative investment house
Charles Pardue has resigned as co-head of marketing for structured finance at JP Morgan in Europe to establish Prytania Alternative Investment Management. He plans to launch Prytania in early 2003.
Lehman finds link between high volatilities and SEC investor confidence measure
The Lehman Brothers equity derivatives and quantitative research group has found the current trend of high implied and realised volatilities for US stocks partly attributable to a US Securities & Exchange Commission (SEC) order aimed at bolstering…
Kiodex focuses on accounting transparency for corporations
Kiodex, the New York-based provider of Web-based energy risk management services, has launched an accounting tools module on its Risk Workbench platform, an online business process outsourcing resource.
UBS will not replace timezone risk manager Mullet
UBS Warburg, the investment banking arm of Swiss bank UBS, said it will not replace Mark Mullet, a timezone risk manager for North America FX options.
Bank of Ireland opts for Integral STP over client e-trading
Bank of Ireland has taken Integral’s AutoDealer product to aid straight-through processing, the Californian software firm said earlier this week. But, said an official at Bank of Ireland in Dublin, the bank has no immediate plans to use the system to…
Danish regulator scotches rumours of favourable hedge fund ruling
Denmark's chief regulator, the Financial Supervisory Authority (FSA), is unlikely to relax rules that block locally domiciled investment funds from using leverage, FSA financial inspector Jens Vestergaard told RiskNews .
Citi moves to prevent future Enron-style 'loan' fiascos
Citigroup has pledged not to conduct structured finance deals for companies that hide debt from investors in a move designed to improve its image post-Enron.
Credit Markets Update: Spreads in Europe stay wide
Credit default swap spreads on European corporates continued to widen across the board this week, albeit at relatively more moderate levels than witnessed in the past few weeks. Traders said poor corporate earnings reports, negative rating actions and…
Bank race for CLS clients
The world’s top FX banks are racing against time – and each other – to sign up a potential 2,000 third-party banks and institutions as clients for a new forex settlement system, Continuous Linked Settlement (CLS).
Deutsche Bank Americas credit derivatives head moves to Asia
Alejandro Brockmann, head of credit derivatives for the Americas at Deutsche Bank in New York, has now been made head of the bank's emerging markets trading and integrated credit trading for Asia. He will officially take on his new Singapore-based role…
NetRisk’s Ceske heads to GE Capital
Rob Ceske, head of business development at NetRisk and its subsidiary OpVantage, has left the company to take on a new role at GE Captial. Ceske’s departure from the Connecticut-based risk management company comes as it is being acquired by Fitch Risk…
ABN offers Multi-Strategy hedge fund to Singaporean retail investors
ABN Amro Asset Management has started offering Singaporean retail investors access to its ABN Amro Multi-Strategy Fund.
Evolution Markets launches weather desk
New York-based environmental and energy broker Evolution Markets has returned to the weather derivatives sector with the launch of a weather desk, six years after it brokered its first over-the-counter weather deal.
Tullett completes restructuring of European operations
UK interdealer broker Tullett & Tokyo Liberty has completed the restructuring of its European operations - following the merger of Tullett & Tokyo and Liberty back in December 1999 - by naming five managing directors to drive the broker towards its goal…
Aquila finally buries energy trading business
Missouri-based energy trader Aquila today said that it has put the lid on the coffin of its energy trading division, following almost two months of speculation. In June, Aquila unveiled plans to wind down its trading book, but said it was looking for a…
Macquarie to offer exchange-traded ELIs in HK by month-end
Australia’s Macquarie Bank is looking at listing Equity Linked Instruments (ELIs) on the Hong Kong Exchanges & Clearing (HKEx) by the end of August, according to Matthew Long, Macquarie's Hong Kong-based associate director for equity derivatives sales.
SG launches another capital guaranteed fund in Hong Kong
SG, a division of French banking group Société Générale, has launched another capital guaranteed fund into the Hong Kong retail market, this time linked to stock market volatility.
Deutsche Bank forex up 15%
In line with its top-tier rivals, Deutsche Bank has bucked the mid-tier trend of lower forex earnings from reduced market volatility, to report a 15% increase in first-half FX profits.
Summit and CoVision link up for hedge fund trading platform
New York-based transaction processing technology company, Summit Systems, has teamed up with another New York company – investment management firm CoVision Capital Group – to create an investment trading platform specifically geared to hedge funds.
CreditTrade launches mark-to-market credit derivatives service
Credit derivatives inter-broker dealer and data provider, CreditTrade, and UK pricing company Totem Market Valuation, have launched a consensus-based, mark-to-market pricing service for banks.
Barclays opts for SunGard’s BancWare
Barclays Bank has implemented SunGard Trading and Risk Systems' BancWare product for its financial risk management activities across the UK, France and Spain.