News
Hedge funds of funds may offer CDO opportunity, says S&P
Standard & Poor’s (S&P) today predicted that collateralised debt obligations (CDOs) of hedge fund of funds will be the next sector to fuel growth in alternative investments.
Hedge funds open to retail investors in HK
A new ruling by Hong Kong's Securities and Futures Commission (SFC) today will allow retail investors in the Special Administrative Region to buy hedge funds from the third quarter of this year.
Moody’s highlights swap risks within European securitisations
Using fixed amortisation schedule swaps to hedge securitisations can actually increase, rather than reduce the market risk, claims Moody’s Investors Service.
FASB redefines derivatives
The Financial Accounting Standards Board (FASB) yesterday amended the definition of derivatives within its mark-to-market accounting regulation FASB 133.
iBoxx launches Xavex
News
XBRL promotes transparency
Credit tech
UK's FSA to tackle operational risk
The UK’s Financial Services Authority (FSA) today launched its whistle-blowing initiative, designed to encourage financial industry workers to make disclosures about malpractice in the workplace.
AFP warns against hasty derivatives regulation
Bill Miller, chairman of the Association of Financial Professionals’ (AFP) End-Users of Derivatives Council (EUDC), is calling for restraint when considering amending US derivatives regulation following the collapse of Enron.
Swiss Re executes $40 million catastrophe risk CDO
Swiss Re Capital Markets Corporation (SRCMC) has executed what is believed to be the first ever synthetic CDO based on natural catastrophe risks. The underlying risk exposures were accessed through industry loss warranties (ILWs), for which Judith…
San Paolo plans to launch first Italian single-manager hedge fund
Obiettivo SGR, a subsidiary of Italian banking organisation San Paolo IMI, plans to become the first single-manager hedge fund launched in Italy.
Credit Markets Update: Spreads widen on US telecoms woes
The cost of credit derivatives protection rose on a number of telecoms today following the resignation yesterday of WorldCom chief executive Bernard Ebbers and a wider than expected $698 million loss in the first quarter reported by Qwest.
Nordea snares Andreasen and Bangert to boost exotics
Nordea Markets, the investment banking arm of pan-Nordic bank Nordea, has made two key hires as part of its bid to boost complex derivatives activities.
BNP boosts Asia-Pacific fixed-income derivatives team
French bank BNP Paribas has made three new hires to its Asia-Pacific interest rate derivatives trading team in Singapore.
AngloGold cuts hedging by 12%
South Africa’s largest gold producer, AngloGold, reduced its hedge book by 12% in the first quarter, as it moved to gain exposure to a rising spot price.
WorldCom spreads blow out
The cost of protection on WorldCom’s five-year debt blew out today, following the resignation of chief executive Bernard Ebbers.
ABN Amro snaps up HVB’s Seeger
Dutch bank ABN Amro has hired Kai Seeger from HypoVereinsbank as part of its step-up in credit derivatives activity under the stewardship of Arnie Groes, head of global credit derivatives.
Wall Street Systems offers rates module
Wall Street Systems has released an interest rate derivatives (IRD) module, which supports traditional analytic models as well as multiple-term structure models such as Black-Derman-Toy, Hull-White and Black-Karasinksi.
Citi and JPMC days away from FX Connect integration
The integration of Citigroup and JP Morgan Chase on State Street's FX Connect is only days away, said Simon Wilson-Taylor, managing director of Global Link.