Month: April 2013

And Finally…

I think it is well understood that operational risk rather than market risk is the biggest challenge facing our industry today. Markets will move, but as the events of late 2008 proved, with the odd exception, they rarely cause substantial damage to a trading business. The opposite it true of operation risk. Regular readers know […]

Tech Corner

IndusInd Bank has selected Calypso Technology’s cross-asset front-to-back solution to support growth plans for its treasury activities, increase its global market business and manage risk. Calypso’s service will enable IndusInd to quickly introduce new products including derivatives, and will provide the ability to contain risk exposure within limits, helping the bank to remain ahead of […]

On the Move

Nilsson Joins Lloyds Anders Nilsson has joined Lloyds Bank Commercial Banking in London as head of corporate FX sales, Profit & Loss understands. Sources familiar with the matter say that the appointment was announced internally last week and that he will report to Matt Lawrence, head of financial markets corporate sales at the bank. Nilsson […]

New CLS Board Elected

CLS Group has elected five new directors to its board. The addition of Gerard Gil, David Hudson, Karen Keenan, Maggie Parent and Kam Keung (KK) Tse to the board takes the total members to 24, five of whom are independent, ‘outside’ directors. Gil is a senior advisor to BNP Paribas’ general management and supervised the […]

TradingScreen Complies with Dodd-Frank Requirements

Liquidity, trading and investment technology provider, TradingScreen, is now compliant with the US Commodity Futures Trading Commission’s (CFTC) rules under the Dodd-Frank Wall Street Reform and Consumer Protection Act, covering certain foreign exchange transactions. The firm says that is it compliant with the rules that require firms to display mid-point pricing on FX pre-spot, forward […]

Software Bug Causes CME Data Leak

A software bug at CME Group’s swaps data repository (SDR) allowed some traders to see confidential details regarding hundreds of transactions at the beginning of the month. During a software upgrade to the exchange’s SDR, a glitch allowed some traders to see details on both sides of the trade of around 500 transactions in agriculture […]

ISDA Elects Board Members

The International Swaps and Derivatives Association (ISDA) elected 12 directors at its 28th AGM in Singapore last week. The two new directors are Sotaro Kato, managing director, co-CAO, Global Markets Asia-Pacific at Nomura Securities, and Christopher Murphy, global head of rates and credit at UBS. In Kato’s role at Nomura he is responsible for leading […]

Asian Banks Gain Ground on Global Rivals, Survey

Asian banks are gaining ground on their global counterparts by improving their service quality in corporate banking, according to the latest study from financial research firm, Greenwich Associates. Banks in the region have reportedly increased their service levels to, “fill the void left by retrenching foreign European banks,” says the report, Asian Companies Forge New […]

BNP Paribas Partners with Swift for Collateral Protection Service

BNP Paribas Securities Services is working with financial messaging service provider, Swift, to enhances its collateral protection offering for corporate, buy-side and sell-side clients. The bank is working with Swift to integrate the latter’s standardised messages in its ‘Margin Protect’ service, which supports full compliance with impending regulatory requirements on OTC transactions, mitigation of counterparty […]

Integral EBCS Compliant

Integral Development says it has upgraded its service to facilitate liquidity provider compliance with the two most prominent requirements of the External Business Conduct Standards (EBCS) in time to meet the May 1 deadline. The rules promulgated by the U.S. Commodity Futures and Trading Commission (CFTC) state that by that date, the Pre-Trade Mid-Market Mark […]