News
Alliant Energy to use KWI
Wisconsin-based energy services provider Alliant Energy is to implement trading and risk management tools provided by Houston-based software firm KWI.
ICE to offer OTC clearing via London
The IntercontinentalExchange (ICE), a leading operator of over-the-counter (OTC) markets for oil, gas, power and metals, has teamed up with the London Clearing House (LCH) to offer OTC derivatives clearing to clients.
Basel issues best practice in audit function
The Basel Committee on Banking Supervision has issued a best practice paper on the need for co-ordination between banks, their internal and external auditors, and supervisors that highlights the responsibility board directors have with regard to risk…
Bear Stearns boosts European marketing effort
Bear Stearns International has poached two derivatives marketers from rivals BNP Paribas and Citigroup to build its European derivatives marketing effort.
OCC appoints two new directors
The US Options Clearing Corporation (OCC), the not-for-profit central US derivatives clearing organistion, has appointed Bear Stearns' Richard Lindsey and Charles Schwab's Stanley Lauchner to its board of directors.
MTS dealer-to-client platform BondVision debuts
Italian inter-dealer broker MTS has started trading on its internet dealer-to-client trading platform BondVision, with Eur248 million of government and agency securities traded yesterday. Average deals were Eur20 million, which EuroMTS deputy chief…
CME to start trading benzine futures next month
The Chicago Merchatile Exchange (CME) and internet marketplace CheMatch will start offering benzine futures contracts from 21 Septemeber. At the same time, the pair will also offer mixed xylene futures.
RMS adds Japan and Germany to weather system
Risk Management Solutions (RMS), the California-based provider of products and services for the management of natural hazard risks, has added Japanese and German temperature data to its Climetrix weather derivatives trading and risk management system.
CBOT offers mini Dow hedges
The Chicago Board of Trade (CBOT) will launch a mini-sized Dow futures contract based on the Dow Jones Industrial Average (DJIA) at the end of September via its a/c/e trading platform - created via a tie-up with European derivatives exchange Eurex.
Aquila outsources risk management expertise
North American energy company Aquila is to start outsourcing energy trading and risk management services to third parties, following the creation of a new unit, Radius Group.
Sydney Futures Exchange sees profits soar
The Sydney Futures Exchange (SFE) posted a net interim profit of A$11.1 million ($5.9) this year, almost hitting the same level as full-year 2000 when profits were $11.5 million. Included in the profits was $0.7 million from the sale of software by…
Liffe says no discussions held on LSE merger
Brian Williamson, chairman of the London International Financial Futures and Options Exchange (Liffe), has said that “no preliminary discussions” have taken place regarding a merger with the London Stock Exchange (LSE).
Volvo’s Jarlen denies credit derivatives deal
Magnus Jarlen, risk manager at Volvo Treasury, has denied trade press reports that Volvo has signed up to its first credit derivatives deal, saying that although the Swedish truck manufacturer had met with investment banks like JP Morgan Chase to discuss…
MBRM offers options on convertible bonds
Derivatives software firm MB Risk Management (MBRM) is to offer an online capability to price and risk-manage options on convertible bonds as a new feature to its Universal Convertibles Add-ins.
eSpeed boosts intellectual property portfolio
Cantor Fitzgerald spin-off eSpeed has stepped up its efforts to gain a competitive edge by purchasing the Lawrence patent, which protects the electronic bid-wanted auction model used by eSpeed and several of its competitors for trading municipal bonds…
Barclays Global Investors installs BlackRock's Aladdin
Barclays Global Investors (BGI) has enlisted BlackRock Solutions' Aladdin enterprise investment system for its fixed-income risk analytics and processing. The investment arm of the UK’s Barclays Bank went live with Aladdin for domestic active fixed…
apsWire expands board, gains regulatory go-ahead
OTC derivatives dealing platform SwapsWire will expand its board of directors from nine to 13, with shareholders Bank of America, Credit Agricole Indosuez and Lehman Brothers gaining board representation along with chief executive Andrew Brown.
TT becomes latest service provider casualty
Trading Technologies (TT), a multi-market trading screen technology provider for exchange-traded derivatives, has become the latest casualty of the global economic slowdown, and has unveiled restructuring plans that included 37 job losses and the closure…
Macquarie and Aquila link to offer Australian weather hedges
Australia's leading investment bank has signed up with the US' Aquila to market weather derivatives in Australia and New Zealand.
Hedge fund bears thrive
The gloomy economic environment is bolstering the returns of hedge funds that focus on short selling and distressed securities, according to figures released yesterday by Van Hedge Fund Advisors International.
Prudential Securities hires futures head
New York-based Prudential Securities has made Alex Ladouceur its head of global futures, foreign exchange and metals – a newly created role. Ladouceur will drive all the company’s futures division operating activities, including sales and trading,…
ICE promotes sales and marketing staff
IntercontinetalExchange (ICE), which has bought London's International Petroleum Exchange, has promoted a number of its sales and marketing staff to manage the growth in business during the past 10 months, the company said.
RMS upgrades Hawaii hurricane model
Risk Management Solutions (RMS), the California-based provider of natural hazard risk modelling, has released an upgraded Hawaii Hurricane model that offers improved risk assessment capabilities to insurers re-entering the Hawaiian market for hurricane…
Investec extends Front system to FX
Investec has extended its use of Front Capital Systems' Front Arena to support its global FX trading.