News
DrKW restructures credit derivatives group
Dresdner Kleinwort Wasserstein (DrKW) has undertaken a major reorganisation of its credit derivatives operations, and named Rick Weinstein its new head of credit derivatives.
Noonan to step down as American Re head
Ed Noonan will relinquish his role as president and chief executive of American Re, one of the largest reinsurers in the United States, at the end of March.
SG lures Deutsche’s Hopkin to securitisation team
SG, the investment banking arm of French bank Société Générale, has hired Richard Hopkin as deputy head of its European securitisation team.
Traders confused over mixed signals on yen policy
Traders are having problems second-guessing the Japanese government’s policy on the yen, after the currency's firming to ¥132.38 against the dollar yesterday. This followed the yen hitting a three-year low of ¥133.70 the day before.
UBS in bid to tap retail interest in equity-linked note
UBS Warburg, the investment banking unit of Switzerland's UBS, is negotiating with Hong Kong Exchanges and Clearing to list an equity-linked note released in Hong Kong in November. The move is an effort to generate retail investor interest in the…
Deutsche Börse to release Neuer Sentiment Index
Deutsche Börse is set to release a new 'behaviour-oriented' equity index based on the Neuer Market – made up of 325 mainly German technology and high-growth companies – as a market information tool for dealers.
Finland’s Oko Bank selects Misys for OTC derivatives
Oko Bank, the central bank for Finland’s co-operative banking community, will extend its use of London-based Misys International Banking Systems’ Opics solution to cover regulated and over-the-counter (OTC) derivatives activities.
Isda hits back at call for more derivatives regulation
The International Swaps and Derivatives Association (Isda) has hit back at calls for more derivatives regulation in the wake of Enron’s demise. “Advocating regulation for regulation’s sake is bad policy, and could severely affect the US role in global…
CBOE's Walsh emerges as OneChicago ops head
Robert Walsh, vice-president of trade processing at the Chicago Board Options Exchange (CBOE), will become managing director of operations for OneChicago, the joint venture created to trade single-stock futures by Chicago's three derivatives exchanges:…
US swap spread narrowing set to continue
US swap spreads narrowed during the year’s first week of trading. But despite anticipation that the Fed will soon discontinue cutting interest rates, spreads will continue to be tight over the next few months, according to economic research from JP…
OneChicago selects CBOEdirect trading platform
OneChicago, the joint venture of Chicago’s three derivatives exchanges created to trade single-stock futures, has selected the Chicago Board Options Exchange’s (CBOE) screen-based system, CBOEdirect, as its trading platform.
Swiss Re signs up Longitude in weather push
Swiss Re signed up with New York-based risk management software firm Longitude today, to help its development of new weather risk management products.
Ramseyer-Torres named DrKW deputy head of equities
Roselly Ramseyer-Torres, who has been steadily building up Dresdner Kleinwort Wasserstein’s (DrKW) equity derivatives capability, has climbed another rung in the German investment bank’s corporate ladder by being named deputy head of global equities.
Swiss Re’s Wilson joins Oliver, Wyman
Oliver, Wyman & Company, the New York-based consultancy, plans to boost its risk management practice by hiring Tom Wilson, former Swiss Re New Markets chief financial officer and chief risk officer.
AEP snaps up Enron's Nordic power team
Ohio-based utility American Electric Power (AEP) is set to enter the Nordic power market after its London-based European trading arm, AEP Energy Services, assumed operation of Enron's offices in Oslo and Stockholm.
Smartstream launches ETC application
Smartstream Technologies, the London-based provider of reconciliation and trade confirmation management solutions, plans to let fund managers create electronic notification of trade execution through its latest electronic trade confirmation (ETC) module,…
Innovative CDOs set to lead the way in 2002
Innovatively structured collateralised debt obligations (CDOs) will spur the growth of structured finance products in 2002, according to a report by rating agency Standard & Poor’s (S&P).
EEX to offer clearing for OTC forwards
Germany’s European Energy Exchange (EEX) plans to become the first power exchange in continental Europe to offer central counterparty clearing services for over-the-counter (OTC) electricity forward transactions.
Innogy subsidiary to use kW3000 risk management tool
Npower Northern Limited, a subsidiary of energy supplier Innogy, has chosen to use London-based KWI's kW3000 trading and risk management product.
Temenos signs new contracts with Mellon, TIB and Techcom
Swiss-based financial services vendor, Temenos, has signed US-based Mellon Financial Corporation, Russia's Trust and Investment Bank (TIB) and Vietnam-based Techcom Bank to roll out its integrated banking software suite, Globus.
2001 a record year for Liffe and Eurex
Europe’s two largest derivatives exchanges this week reported record trading volumes for 2001. Eurex, the Swiss-German exchange, traded a total of 674 million contracts in 2001, a 48% increase on 2000’s 455 million contracts. The London International…
Hungarian netting legislation welcomed by Isda
The International Swaps and Derivatives Association (Isda) today said it welcomed the implementation of Act CXX of 2001 on the Capital Markets (CMA), which provides legal certainty to the enforceability of close-out netting in Hungary. The CMA, passed by…
More derivatives deals use collateral, says Isda survey
Derivatives dealers are increasingly relying on collateral to mitigate credit risk, according to the International Swaps and Derivatives Association (Isda). The amount of collateral in circulation in the derivatives markets now exceeds $250 billion, an…
