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Merrill Lynch snags two from SG in Asia
Merrill Lynch (Asia Pacific) has snatched two derivatives specialists from SG Securities Global Equities, in a move to strengthen its position in the region's equity derivatives markets, according to the bank.
OCC says derivatives revenues, notionals down
US commercial banks’ revenues from derivatives fell by $805 million, to $2.65 billion, from the third to the fourth quarters of 2001, according to figures released yesterday by the Office of the Comptroller of the Currency (OCC).
New ABN Amro hire to expand electronic futures business
Steve Chivers has joined ABN Amro as a Chicago-based senior global technology manager of the bank's global futures division – a newly created position.
Kiodex secures second round of financing
Kiodex, a New York-based provider of Web-based energy risk management solutions, has secured an additional $10 million in financing from Warburg Pincus, the global private equity firm. The firm originally invested $15 million in April 2001. It plans to…
Refco signs up TradeTrac for forex
Refco, the world's largest non-bank futures commission merchant, has signed up TradeTrac for its foreign exchange activities. TradeTrac provides front-, middle- and back-office risk management services, and was developed by risk technology firms…
EIB loan protection
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BNL plans weather desk for Italy
Rome-based Banca Nazionale del Lavoro (BNL) is planning to set up a weather derivatives desk, which could add to the recent thrust of new players in the weather risk market. BNL hopes to establish the desk, specifically for the Italian market, by the…
Calls mount for bank and rating agency disclosure on Enron
Leaders of the US House Energy and Commerce Committee yesterday called on 10 investment banks and three credit-rating agencies to turn over records linked to Enron. Questions to the banks focused on loans to Enron and whether future business with Enron…
Overmars to head ABN financial markets
Piero Overmars has stepped up from his role as ABN Amro’s head of global financial markets in Japan, to become the Dutch bank’s global head of global financial markets, based in Amsterdam. He replaces Nils Lorenzen, who has resigned for personal reasons…
Citibank appoints head of structuring for Asia-Pacific
Citibank has named Rodrigo Zorrilla as head of structuring and corporate sales for Asia-Pacific, reporting to Paco Ybarra, head of financial markets for Citibank Asia-Pacific. He will be responsible for the development and structuring of Citibank's Asian…
Thyssenkrupp
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New multi-bank op risk data pooling venture
Over a dozen large global banks plan to form a new not-for-profit venture to pool operational risk data this spring. The Operational Risk Data Exchange (ORX) will be incorporated in Switzerland – selected for its data privacy and confidentiality laws –…
Hawke highlights "thorny issues" of Basel II
John Hawke, the US Comptroller of the Currency, this week said that “there are a number of thorny issues that remain to be worked out” in the Basel II bank capital adequacy Accord. Speaking at a conference held by the Institute of International Bankers…
Deutsche Banc Alex. Brown hires investment-grade bond traders
Deutsche Banc Alex. Brown, the US investment banking arm of Deutsche Bank, has added to its integrated credit trading group by hiring Michael Wheeler and Alex Marx as senior investment-grade bond traders.
Liffe adds to stock futures line-up
The London International Financial Futures and Options Exchange (Liffe) will list a further 22 European universal stock futures from April 18 2002. From that date, a total of 118 universal stock futures will be available on blue-chip stocks from 12…
Bourse de Montréal reaches out to US market
Bourse de Montréal has obtained approval from the US Commodity Futures Trading Commission (CFTC) to offer US dealers and brokers access to its electronic trading platform, the Montréal Automated System (Sam), for trading futures contracts and options on…
Barclays hires two for Latin America credit trading
Barclays Capital, the investment banking division of Barclays Bank, has hired Michael McGowan and Ronaldo Lyrio as directors of credit trading for Latin America, as part of the bank’s effort to grow its presence in the region.