News
Eurex blames dealers for system limits
Swiss-German derivatives exchange Eurex is clamping down on dealers that overload its system with transactions and price information. The exchange said the growing use of automated quote engines by dealers threatens to overload its trading capacity and…
GFI to use CSK’s Slingshot for trading portal
Interdealer broker GFI is implementing CSK Software’s Slingshot product to stream real-time data into Web-based products, including a new trading portal. The project is part of a larger market data strategy at GFI.
Deutsche hires head of IT for global markets derivatives
Deutsche Bank has hired Diane Brunsden from JP Morgan Chase spin-off Arcordia Solutions as global head of information technology for its global markets derivatives division.
Korea's Daishin Securities contracts Kamakura for market risk
Daishin Securities has signed up to use Kamakura Corporation's technology to manage its market risk activities at its Seoul-based head office. Daishin is Kamakura's seventh Korean trading firm client.
BofA fills sales gaps with derivatives experts
Banc of America Securities, the investment banking arm of Bank of America (BofA), has hired a number of derivatives experts in London to fill gaps in its sales team. The hires are part of a bid to expand the bank’s European fixed income and derivatives…
SEC chairman calls for stock option re-think
Executive stock option plans should be approved by shareholders and used to reward long-term success rather than short-term performance, said Harvey Pitt, chairman of the Securities and Exchange Commission (SEC).
Evolution creates chief executive role
Evolution, the London-based financial markets technology consultancy firm, has hired Peter Robin as its chief executive, a newly created role.
European insurers in joint effort to cover ‘terror risks’
Leading European insurance groups are set to combine resources to establish a Luxembourg-based company to cover property against acts of terrorism.
SSB ramps up credit structuring
Salomon Smith Barney's (SSB) credit derivatives group in New York has hired collateralised bond obligation (CBO) structurer Steve Segretta from CIBC World Markets. Doug Warren, co-head of SSB's credit derivatives unit, said he is looking to hire two to…
eSpeed licenses futures trading patent to Ice
Technology company eSpeed has licensed its electronic futures trading patent to online energy platform Intercontinental Exchange (Ice). The move will enable Ice to expand its electronic trading platform to cover energy futures and options contracts…
Measurisk chief executive moves to K2
K2 Advisors, the New York-based fund of hedge funds with $1 billion under management, has hired Kelsey Biggers as a managing director of risk management. Biggers was previously chief executive, vice-chairman and co-founder of Measurisk, a New York-based…
Henderson signs with Xenomorph for derivatives support
Henderson Global Investors, a subsidiary of the Australian Mutual Provident Society (AMP), has selected Xenomorph to provide risk management for derivatives support across a range of investment products.
BarCap poised to move NYC trading floor in July
Barclays Capital, the investment banking arm of the UK's Barclays Bank, plans to begin moving to its new trading floor in midtown Manhattan in July, according to Nick Themelis, Barclays Capital's chief information officer for the Americas.
SGX plans a series of Japan derivatives initiatives
The Singapore Exchange (SGX) plans to bolster its focus on Japan with a series of new products due to be launched in the next few months.
Nesbitt Burns raids Commerzbank for US start-up
BMO Nesbitt Burns, the Toronto-based investment banking subsidiary of Bank of Montreal, has expanded its equity derivatives operations into the US market by poaching six of Commerzbank’s equity derivatives team.
CME introduces new forex contracts
The Chicago Mercantile Exchange (CME) said yesterday it will introduce 13 new foreign exchange futures contracts to start trading in the second quarter of this year. The new contracts include 11 non-dollar cross-rates and two dollar-based contracts.
HSBC rolls out Rolfe & Nolan back office system in US
The UK's largest bank, HSBC, has started rolling out derivatives back office technology developed by Rolfe & Nolan (R&N) in New York and Chicago.
