JP Morgan
Deutsche Bank seeks plays on EU convergence
Deutsche Bank has launched a Central European foreign exchange (CEFX) convergence index designed to provide optimally weighted risk/return exposure to the Polish, Hungarian, Czech and Slovakian currencies. The index is tradable as a spot currency, with…
CLS Is Live. What Next?
CLS participants breathed a huge sigh of relief when the long-awaited system launched successfully. Is anyone ready to start expanding the system to new products?
Kosda to launch benchmark CMS index
The Korean Swaps Dealers Association (Kosda) plans to launch a benchmark constant maturity swap (CMS) fixing index in December, according to Seung Won Hwang, head of derivatives marketing at Citibank and co-chairman of Kosda.
Dongwon Securities poaches JP Morgan Chase banker
South Korea’s Dongwon Securities has hired BJ Kim, an ex-JP Morgan Chase banker, as executive vice-president to boost the firm’s over-the-counter derivatives capabilities. Previously, Kim was head of credit markets at JP Morgan Chase in Seoul.
Prebon builds bridge to SwapsWire
Institutional broker Prebon Yamane is going live this week with a system, developed in-house, that allows traders to have direct links to the SwapsWire online platform, according to officials at the firm, based in London. Swapswire, owned by a consortium…
Basel II will lead to more instability, critic argues
LONDON - The Basel II bank capital accord will result in more banking instability and more pro-cyclicality, where bank actions taken in response to solvency rules reinforce economic and market cycles, a leading critic of the accord said in October.
US and European credit derivatives markets remain muted
Default protection costs continue to tighten in both the US and the European credit default swap market in line with the cash market, traders said today, adding that volumes continue to remain relatively muted, particularly in the European markets.
Credit ratings come into FX focus
Credit ratings are becoming increasingly significant to foreign exchange market players, with downgrades increasing in the current economic downturn, market participants told RiskNews ' sister publication FX Week .
Clients of settlement members go live today on CLS
Clients of banks that have signed up as settlement members to CLS Bank can from today have their foreign exchange transactions settled on continuous linked settlement (CLS), the system built to reduce risk in the global forex markets.
New US online options exchange announces investors
The Boston Options Exchange (BOX), a venture of the Boston Stock Exchange, has announced investment stakes by Credit Suisse First Boston, JP Morgan Chase, Salomon Smith Barney and UBS Warburg. The size of the investments was undisclosed.
JP Morgan signs up 18 CLS third-party customers
JP Morgan Treasury Services, a unit of JP Morgan Chase, has signed up 18 third-party service customers to allow them access to continuous linked settlement (CLS). The third-party service contracts allow counterparts to settle their foreign exchange…
JP Morgan Chase markets CDO with equity puts in Asia
JP Morgan Chase has begun marketing synthetic collateralised debt obligations (CDOs) with embedded equity put options to a small number of investors in Asia-Pacific. This type of structure is aimed at sidestepping the sometimes-thorny issue of…
LSE launches covered warrants trading
The London Stock Exchange (LSE) launched its covered warrants market this morning, giving UK private investors direct access to equity hedging tools.
SunGard coup for FXConnect
State Street Corporation is due to announce this week that it has secured a coveted deal with the treasury software unit of Pennsylvania-based technology company SunGard.
Morgan unveils managed bespoke credit investment product
JP Morgan Chase has completed what it claims is the first of a new generation of credit derivatives investment deals.
International banks step-up German fixed-income derivatives coverage
Deregulation of the German insurance market is attracting the world's top investment banks to expand fixed-income derivatives operations in Frankfurt.
JP Morgan Chase snatches Asia Risk’s house of the year award
JP Morgan Chase has won RiskNews ' sister publication Asia Risk 's derivatives house of the year award, while also picking up its prize for credit derivatives house of the year – an accolade it has held since the magazine began publishing its awards…
Basel to adopt flexible approach to point-in-time and business cycle ratings
NEW YORK - The Basel Committee on Banking Supervision, the architect of the Basel II capital Accord, will adopt a flexible approach to point-in-time and business cycle credit ratings used by banks when reviewing advanced internal-rating based approaches.
JP Morgan Chase in major ramp-up of portfolio management technology
JP Morgan Chase has assigned the largest chunk of its IT budget for the next two years to overhauling its portfolio management infrastructure, according to the US bank’s head of portfolio management Blythe Masters.
Basel to adopt flexible approach to point-in-time and business cycle ratings
The Basel Committee on Banking Supervision, the architect of the Basel II capital Accord, will adopt a flexible approach to point-in-time and business cycle credit ratings used by banks when reviewing advanced internal-rating based approaches.
Barclays Capital strengthens high-grade credit derivatives trading team
Barclays Capital, the investment banking division of Barclays, has appointed Spencer Jesner and James Parascandola to the firm's high-grade credit derivatives trading team. Jesner joins as a director and head of the US credit default swap trading team,…
Equity put–credit default swap arbitrage opportunities disappearing, say US dealers
Jeremy Howard, head of US convertibles research at Deutsche Bank in New York, has said that the days of buying low-strike equity put options to hedge sales of credit default swap protection are largely gone.
JP Morgan Chase taps Juice in New York
JP Morgan Chase’s North American Credit Markets group in New York has deployed New York-based Juice Software’s technology to consolidate and deliver real-time prices from multiple sources, according to officials involved.
JP Morgan may boost capital for equity-linked FX trading model
Larry Kantor, global head of FX strategy at JP Morgan Chase, said the bank was mulling whether to put more proprietary capital behind a trading model that measures FX risk appetite using cues from the equities market, called the Liquidity, Credit and…