News
IntesaBCI selects mpct’s CLS Server
Italy's largest banking group, IntesaBci, has selected mpct Solution’s CLS (Continuous Linked Settlement) Server to power its CLS services, which will run on the Sun Solaris Unix platform at the bank's Milan headquarters.
New CEO for MTS Japan
Fabrizio Lavezzari had been named as the new chief executve of MTS Japan, the electronic platform for Japanese bonds. He replaces William Campbell, who a senior MTS official said had left to pursue other personal and business interests. The official said…
Reuters snares Trott for RTS
International financial information and trading technology provider Reuters has talked former Bank of England chief forex dealer Jim Trott out of retirement to join the firm as strategic and commercial manager for Reuters Treasury Services (RTS).
Inreon sees limited deal volumes
Online trading platform Inreon has seen a number of transactions completed on its internet-based reinsurance trading platforms, but volumes have been muted, with a total value of $30,000 to $600,000 (inreon declined to provide specific figures) through…
Basel may scrap IRB floor
A US bank regulator has said the Basel Committee will soon abandon its controversial 90%, two-year floor on the benefit banks can reap by moving to the advanced internal ratings based (IRB) regulatory capital technique under the Basel II Capital Accord.
Regulated derivatives see record trading
Derivatives exchanges have seen strong rises in trading volumes at a time when the take-over battle intensifies for the London International Financial Future and Options Exchange (Liffe).
Risk expert Zakaria takes a top post at Merrill
Merrill Lynch has promoted its corporate head of risk management, Arshad Zakaria, to co-head its corporate and institutional client group (CICG). He will have executive responsibility for global investment banking, debt, equity and securities services…
WTC-hit derivatives houses maintain ratings
International rating agency Moody’s has confirmed the ratings on five derivatives firms, following initial concern that the houses, all located in or near the World Trade Center, would be adversely affected by the terrorist attacks of 11 September.
Canada’s Royal Bank signs up to Algo Credit Evaluator
RBC Dominion Securities (RBC DS) has joined Bank One in conducting beta tests of Algorithmics' Algo Credit Evaluator (ACV), a credit evaluation tool developed by the Toronto-based risk analytics vendor.
Isda introduces online information resource
The International Swaps and Derivatives Association (Isda) has introduced a new online information resource for its members called netalytics, which covers the validity and enforceability of the close-out netting provisions of the Isda master agreements…
Patsystems launches mobile access
Trading software designer patsystems has launched a new product that it claims will give traders remote access to all leading derivatives exchanges
OpenLink appoints Findur sales head
Financial and energy trading and risk management software solutions provider OpenLink International has appointed John Lister as sales manager for its Findur treasury system and suite of financial tools. Findur is a fully integrated front-through-back…
DSTi forms trading alliance with SunGard
DST International (DSTi), an order-processing provider to the fund management industry, has formed a strategic alliance with SunGard Trading Systems that will allow fund managers to fully integrate DSTi's portfolio management services with SunGard's…
Freddie Mac names Sannini as corporate controller
Freddie Mac has made Edmond Sannini a senior vice-president and corporate controller with responsibility for the US mortgage securitisation corporation's accounting and control function.
Moody's forms Basel II advisory group
Moody’s Risk Management Services (MRMS) has formed a 'BIS II implementation advisory group' that will help clients establish internal credit rating approaches in line with changes to capital requirements for banks, proposed by the Basel Committee on…
Donation fuels Cambridge’s research ambitions
William Janeway, vice-chairman at Warburg Pincus, a leading New York private equity firm, has donated $10 million to the University of Cambridge’s Judge Institute business school. The money will fund research into the links between the risk management…
eAcumen launches weather risk platform
San Francisco-based risk technology firm, eAcumen, has launched the core module of WeatherBook, a quantitative weather risk management platform that prices weather derivatives and simulated portfolios using a proprietary simulation algorithm.
ACBM moves to make convertibles less risky
The Association of Convertible Bond Management (ACBM) has drawn up a series of new recommendations to protect investors from non-standard convertible bond issue terms. The standardisation and clarification guidelines are seen as an important measure to…
Blewitt exits creditex for BofA
Former creditex chief strategic officer Dik Blewitt has been hired by Bank of America in New York as a managing director in its structured credit products group. Blewitt will structure credit products using credit derivatives for pension funds and…
The shifting sands of Basel II
Four months after the Basel Committee on Banking Supervision closed the consultation period on its January 2001 draft for a new international capital Accord, it has already made major amendments to its proposal.
Cantor names new executives
Cantor Fitzgerald has named new managers to its sister business eSpeed to replace those lost in the World Trade Center tragedy. The broker lost nearly 700 of its 1,000 staff in the tragedy, which has now claimed more than 6,000 lives.
CLS hit by yet more set-backs
CLS (Continuous Linked Settlement) Bank, a financial industry initiative established to mitigate settlement risk in the foreign exchange market, has been forced to once again delay the launch of its service. The latest estimate for the start of CLS…
Basel II regulators lighten Pillar 3 disclosure burden
Global banking regulators said they are significantly reducing the amount of information they will require from banks under a key provision of the proposed Basel II banking accord.
Basel cuts op risk charge benchmark to 12%
Global banking regulators will base their proposed capital charge for operational risk on a 12% benchmark, down from the controversial 20% originally proposed.