News
From Enron to Iraq
The freight derivatives market has ridden out the loss of market-maker Enron, and now all eyes are turning to the effect of military action against Iraq. By Kevin Foster
Ferc unable to regulate OTC derivatives, admits own official
Charles Whitmore, special assistant in the office of market oversight at the Federal Energy Regulatory Commission (Ferc), told an EPRM enterprise-wide risk management conference in Houston, Texas, yesterday, that he did not think the Ferc was capable of…
Basel II securitisation paper delayed
The planned paper on asset securitisation in the context of the Basel II bank accord will not be published today as hoped, but is likely to be issued some time next week, global banking regulators said.
Decillion launches first South African fixed-income arbitrage fund
Decillion, a South African financial services company, today launched the first fixed-income arbitrage hedge fund in the country. The fund, called Granite Fixed Income, will pursue arbitrage strategies on corporate credit, relative value strategies on…
KWI launches new version of flagship trading product
London-based energy risk management software company, KWI, this week released KW3000 Version 7.0 – its updated flagship suite of applications for multi-commodity trading and risk management.
Eurex sees another record month of trading
Swiss-German derivatives exchange Eurex saw its busiest month ever in September, with 83.6 million contracts traded, up 22% on September last year.
Cadiz to set up South African hedge fund
South African investment banking group, Cadiz Holdings, plans to set up its first hedge fund, a long/short equity fund called Hedge Funds Solutions, on November 1.
Commerzbank appoints structurer to US derivatives group
Commerzbank Securities, the investment banking arm of Germany's Commerzbank, has made Henry Flowers a senior structurer at its US structuring desk, part of Commerzbank's derivatives group in New York.
Job moves
QUOTE OF THE MONTH: - “We don’t have a problem with regulators telling us that we should tie our shoelaces, but we don’t want them to tell us how to do it” George Mathewson, chairman of the Royal Bank of Scotland, commenting on the rigidity of the Basel…
A first for Singapore
New angles
BBVA selects Asset Control for Europe, Latin America
Spanish bank BBVA, formed by the merger of Banco Bilbao de Vizcaya and Argentaria in 2000, has selected Asset Control to provide infrastructure to centralise and monitor the control of pricing and reference data for its risk management department.
Reuters beefs-up treasury team
Technology and information provider Reuters has added to its Treasury marketing and strategy team, the firm said last week.
Singapore FX build-up for BoA
Bank of America (BofA) made four new hires in FX trading in Singapore in September. The hires are part of the bank’s ongoing move to strengthen foreign exchange, said Larry Baum, New York-based global head of spot, forward and proprietary trading.