Month: January 2007

Derivative Fitch Upgrades Platform for Credit Derivatives

Derivative Fitch, the credit derivatives rating agency, has launched a new version of its Risk Analytics Platform for Credit Derivatives (RAP CD) with daily mark-to-market pricing and risk analysis and full support for CDO2 structures. The new version also includes the addition of portfolio reporting and an improved graphical interface. Portfolio reporting offers the ability […]

Reuters Signs Eight to Kondor+

Reuters has signed eight clients to its Kondor+ trading and risk management product suite as the demand for adequate automation and risk management services grows in the face of continuing regulation. The deals strengthen Reuters’ Trade and Risk Management business across Europe. Clients include Montepio, a commercial bank in Portugal that has signed up for […]

New Peak for CLS

CLS Bank International set a new record for the volume of payment instructions settled in one day on January 16, settling 705,582 payment instructions with a gross value of $ 5.22 trillion. As is generally the case with CLS, the new record follows a US public holiday, therefore two days’ worth of trades are condensed […]

T-Zero Hires Harrington as COO

T-Zero, a credit derivatives messaging and connectivity provider, has hired George Harrington as chief operating officer to expand its senior management team. Launched in the summer of 2005 by e-trading platform provider Creditex to bring operational efficiencies to the credit derivatives industry, T-Zero enables market participants to automate post-trade processes by communicating with different credit […]

Credit Derivatives Veteran joins Codefarm

Codefarm, a Brighton, UK-based technology company that provides products and services for the structured credit market, has appointed Paul Varotsis as a non-executive director. Over the past twenty years, Varotsis has held a number of positions within the credit derivatives businesses at some of the major banks. He was head of CDOs at Barclays Capital, […]

RBC Completes Russian Rouble Issues

RBC Capital Markets said last week that it had completed two of the first ever bonds denominated in Russian roubles.  The first issue was RUB 2 billion with a five-year term issued by the European Bank of Reconstruction and Development and the second issue was RUB 2 billion with a four-year term issued by Nordic […]

Two More QFIIs Approved in China

China’s State Administration for Foreign Exchange (SAFE) has approved a further $500 million in mandates under its Qualified Foreign Institutional Investor (QFII) program, which allows qualifying firms to hold tradable Chinese shares for overseas investors. The latest mandates were given to GE Asset Management and UBS Global Asset Management, who received $200 million each. The […]

Chinese Banks Seek Greater Access to Derivatives

Chinese banks are reportedly approaching the country’s regulators for permission to use more hedging instruments to allow them to deal with potential foreign exchange losses as the yuan appreciates, according to a Xinhua report. “As the yuan increases in value, Chinese banks are becoming more exposed to potential exchange losses when they convert overseas profits […]

GL Trade Buys FNX

GL Trade, a provider of front to back office trading systems and market data, has moved to strengthen its position in the US by acquiring FNX Solutions, which specialises in the management and processing of OTC products for capital markets and hedge funds and is mainly based in the US and Japan. The deal, terms […]

PGS Launches Investable FX Index

Parker Global Strategies (PGS), which has tracked FX managers’ performance since January 1986 in its Parker FX Index, has launched an investable foreign exchange index, the PGS FX Alpha Edge. The index is designed to capture alpha available in the global currency markets, as well as to provide a return stream with low correlation to […]