News
CSFB lures top quant Lipton from Deutsche
Alexander Lipton, the first recipient of Risk 's 'quant of the year award' in 2000, has joined Credit Suisse First Boston as a director in the firm's global modelling and analytics team in New York, reporting to managing director Daniel Brown.
European Union Basel II/Cad 3 timetable remains tight
The European Commission’s plans to apply risk-based protective capital rules to banks in the European Union (EU) remain on a tight schedule following yesterday’s progress statement on the Basel II bank Accord by global banking regulators, a Commission…
Eurex gains control of a/c/e as alliance with CBOT is ‘restructured’
European derivatives exchange Eurex has acquired full ownership of a/c/e, the electronic trading platform it shared with the Chicago Board of Trade (CBOT). The move restructures a partnership agreement with the Chicago exchange which has been in place…
Reech appoints Chaplin to develop credit derivatives functionality
Reech Capital, the London-based supplier of risk management, pricing, valuation and operational services, has appointed Geoff Chaplin to oversee development of credit derivatives functionality for its portfolio of quantitative business tools.
Isda OTC derivatives operations benchmarking survey shows mixed results
The International Swaps and Derivatives Association’s latest over-the-counter derivatives operations benchmarking survey showed an increase in processing speed and automation for standardised products such as vanilla forward rate agreements (FRAs) and…
Rift emerges at CFTC over Feinstein bill
Thomas Erickson, a commissioner of the US Commodity Futures Trading Commission (CFTC), yesterday said he fully supports increased oversight of energy derivatives trading, in the wake of Enron’s collapse. Erickson, testifying before the US Senate…
Isda welcomes “positive” Basel II statement
The progress statement on the Basel II bank accord issued today by global regulators was mostly positive, said officials at the International Swaps and Derivatives Association (Isda), the trade body for the world’s financial risk management industry.
Basel II op risk floor abandoned
Global banking regulators said today they would eliminate the floor on capital charges under the advanced approaches to measuring operational risk in the Basel II bank accord.
Regulators say main Basle II issues agreed
Global banking regulators believe there are now no substantial issues remaining with the complex Basel II rules on bank capital following an agreement on key issues announced today.
National regulators able to ‘opt out’ of Basel II maturity treatment
The Basel Committee on Banking Supervision, the architect of Basel II, has climbed down from its initial plans to force banks to include a full maturity adjustment on capital allocated against risk of defaulting loans, in its proposed mark-to-market…
Basel II op risk floor abandoned
Global banking regulators said today they would eliminate the floor on capital charges under the advanced approaches to measuring operational risk in the Basel II bank accord.
Isda welcomes “positive” Basel II statement
The progress statement on the Basel II bank accord issued today by global regulators was mostly positive, said officials at the International Swaps and Derivatives Association (Isda), the trade body for the world’s financial risk management industry.
National regulators able to ‘opt out’ of Basel II maturity treatment
The Basel Committee on Banking Supervision, the architect of Basel II, has climbed down from its initial plans to force banks to include a full maturity adjustment on capital allocated against risk of defaulting loans, in its proposed mark-to-market…
Aquila backs Feinstein energy trading proposals
Missouri-based energy company Aquila today said it strongly supports Senator Dianne Feinstein's proposal for more aggressive Commodity Futures Trading Commission (CFTC) oversight of energy derivatives trading.
Credit Markets Update: Vivendi and Alcatel protection still available
Credit default swaps are still being trading on troubled French companies Vivendi and Alcatel, although at spreads of between 1,500 to 2,500 basis points for five-year protection, traders in London said today.
DrKW sets up prime brokerage service
Dresdner Kleinwort Wasserstein (DrKW) has launched a prime brokerage business, offering financing and support services to hedge funds and alternative investment funds.
UK bankers fear capital floors higher under latest Basel II plans
The British Bankers' Association (BBA) is concerned that global banking regulators appear to have raised and expanded the application of the capital charges floor in the Basel II bank Accord, a BBA official said today.
ING re-enters Asian equity derivatives market
ING Financial Markets has appointed Trinh Du as director and head of structured and listed equity derivatives trading, marking the Dutch institution’s return to the Asian equity derivative markets after an absence of five years.
Isda to testify before Senate committee
The International Swaps and Derivatives Association will today testify that there is no need for further over-the-counter energy derivatives regulation. Representatives of the trade association, due to speak before the US Senate Committee on Agriculture,…
JP Morgan names most vulnerable European corporates
US investment bank JP Morgan Chase named ABB, Alcatel, Alstom, Deutsche Telekom, Ericsson, Fiat, France Telecom, ICI, Invensys, Repsol-YPF, Rhodia, Vivendi Universal as the most exposed credits post-WorldCom in its latest credit research report.
ICE to buy Enron’s back-office architecture
Atlanta-based commodities market-place the IntercontinentalExchange (ICE) plans to acquire the assets of CommodityLogic, a collection of back-office software and hardware, from bankrupt energy trader Enron. The purchase and sale agreement is subject to…
US institutions take greater risks in convertible arbitrage
US institutions that invest in convertible securities, such as convertible arbitrage hedge funds, take more risks than their European counterparts, according to a research report published by US-based financial consultancy Greenwich Associates.
DrKW adds to credit derivatives team
Dresdner Kleinwort Wasserstein (DrKW) has continued to expand its credit derivatives team and hired Hideyuki Kudo in Japan and Hans-Juergen Brasch and Kaveh Taleghani in London.
BIS head defends complexity of Basel II
The most advanced approaches under the Basel II bank capital adequacy accord are likely to be complex if banks are to have the right incentives to measure and manage their risks, a senior international central banker said today.